Business Economy


IEPFA proposes simplified documentation for low-value claims to enhance ease of living

New Delhi, Sep 6 (UNI) The Investor Education and Protection Fund Authority (IEPFA) has formed a committee to review existing procedures and recommend reforms for simplifying documentation in low value claim cases, an official document said today.
The committee comprised representatives from the Ministry of Corporate Affairs (MCA), Investor Education and Protection Fund Authority (IEPFA), Securities and Exchange Board of India (SEBI), Institute of Chartered Accountants of India (ICAI), Institute of Cost Accountants of India (ICMAI), Institute of Company Secretaries of India (ICSI), Federation of Indian Chambers of Commerce and Industry (FICCI), PHD Chamber of Commerce and Industry (PHDCCI), Confederation of Indian Industry (CII), and Registrar Association of India (RAIN).
This committee had submitted the report to IEPFA. Once the suggestions adopted by IEPFA it would be applicable to claims valued up to Rs 5 lakh (physical securities), Rs 15 lakh (demat securities), and dividends up to Rs 10,000.
The Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs plays a crucial role in investor education, financial literacy, investor protection and return of unclaimed investments to rightful owners.
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