IEPFA Panel Suggests Simplified Process For Small Investor Claims
The committee comprised representatives from the MCA, the IEPFA, the Securities and Exchange Board of India, the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India, and the Institute of Company Secretaries of India.
The IEPFA has received a set of recommendations from a high-level committee to simplify documentation requirements for low-value claims cases, an official statement said on Saturday.
"This initiative was expected to significantly reduce timelines, improve transparency, and provide hassle-free services to investors," the Ministry of Corporate Affairs (MCA) said in a release.
The committee comprised representatives from the MCA, the IEPFA, the Securities and Exchange Board of India, the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India, and the Institute of Company Secretaries of India.
Industry associations such as the Federation of Indian Chambers of Commerce and Industry, the PHD Chamber of Commerce and Industry, the Confederation of Indian Industry, and the Registrar Association of India were also part of the committee. The panel has already submitted its report to the IEPFA, the release said.
"The suggestions, once adopted by IEPFA, would have been applicable to claims valued up to Rs 5 lakh (physical securities), Rs 15 lakh (demat securities), and dividends up to Rs 10,000, as suggested by the committee," it added.
The Investor Education and Protection Fund Authority (IEPFA), under the Corporate Affairs ministry, promotes investor awareness, financial literacy, and safeguards unclaimed dividends and shares.
