Recovery of Shares From IEPF | MUDS Management

Recovery of Shares From IEPF

Are You Desperate To Regain Your Unclaimed Investments?

There are many of us who are in dire need of help in reclaiming those shares, debentures, dividends, mutual funds, deposits, etc. that never reached us as we have either lost, misplaced or forgotten about their certificates & details. Lately all shares and certificates were issued in physical form and often, they were lost or torn or simply the owner passed away without handing over the same to his heir(s).

Regaining such benefits is an arduous task, as we lack the knowledge of complete process that needs to be performed for successful recovery of them.

What Is IEPF?

Have you heard about IEPF? Are you aware what it does & how?

Well, for beginners, it is the abbreviation of Investor Education and Protection Fund. It is a fund that has been set up by the Ministry of Corporate Affairs (MCA) and is funded by unclaimed shares, dividends, deposits, debentures, et all.

A trust monitors the IEPF and utilizes money that remains unclaimed for more than 7 years.

Type of Funds That Are Moved To IEPF:

Stay informed that under mentioned funds are transferred to IEPF:

  • Unclaimed Shares
  • Unclaimed Dividends
  • Unclaimed Debentures of companies & the interest accrued on it.
  • Unrealized Proceeds from matured deposits of companies

Can A Shareholder Reclaim Such Unclaimed Shares?

Yes, a shareholder can reclaim any such investment from IEPF as the IEPF authority maintains the details of all the accounts. The aforesaid can be done by following the prescribed procedure and on submission of duly filed form and required documents.

Process To Secure Refund Shares From IEPF:

Any person, whose unclaimed shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares, etc. has been transferred to the Fund, may claim the shares under provision to sub-section (6) of section 124 or apply for refund under clause (a) of sub-section (3) of section 125 or under proviso to sub-section (3) of section 125, as the case may be, from the Authority.

  1. In the of a company, the claimant is entitled to only one consolidated claim in a financial year.
  2. On the other hand, if the claimant is an administrator nominee or a legal heir or a successor then, before filing any claim with Shares from IEPF authority, he needs to ensure that the transmission process has been completed by the concerned company.

Step 1. Completion of Transmission process from Company- Prior to claiming shares it is important to complete the transmission process with the company considered after which the application may be made for claiming such shares

Step 2. Claimant to Authority- E-Form IEPF-5 needs to be downloaded from the site, duly fill it and then upload it.

This form requires all details of the unclaimed investment to be filled. In addition, it also seeks the details of the claimant.

Step 3. Claimant to Company- After filing of the e-form, the claimant is required to send copies of required documents by post to the Nodal Officer of the concerned company.

Step 4. Company to Authority- The company shall send a verification report to the Authority, within 15 days of receipt of the claim form.

Step 5. Authority to Claimant- After the receipt of all relevant documents, verification of the entitlement by the claimant is done. Thereafter, a refund sanction order and finally, the transfer materializes in the Demat account of the claimant.

How To Successfully Reclaim Your Unclaimed Shares?

Seeking consultation and guidance from a credible consultancy firm will not only expedite the process but also will guarantee the regaining of investment which is as good as dead for now.

MUDS: Unrivalled & Unsurpassable Services!

A consultancy firm with years of experience behind them, thousands of satisfied clients pan India, best professionals in the field, MUDS gives guaranteed solutions to such problems!l

“There are lots of formalities to be followed to recover the unclaimed shares from IEPF, which is a little demanding for a layman, therefore, it is better to seek professional help.”
-Shweta Gupta, Founder and CEO, MUDS

By | 2021-01-15T12:45:48+05:30 July 10th, 2019|Recovery of Bad Debt|0 Comments

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