Rule 7: Refunds to claimants from Fund

Rule 7: Refunds to claimants from Fund · Complied AI

(3)

The company shall, within thirty days from the date of receipt of claim, send an online verification report to the Authority after verification of details in Form No. IEPF-5 in the format specified by the Authority along with all the documents submitted by the claimant and shall attach the scanned copy of all the original documents submitted by the claimant in physical form duly certified by its Nodal Officer alongwith the e-verification report along with a scanned copy of both sides of original physical share certificate or original bond or deposit or debenture certificate/s duly cancelled and certified:

Proviso

Provided that if the online verification report is not sent by the company within thirty days of filing of claim, the company may do so by paying additional fee of fifty rupees for every day subject to maximum of two thousand and five hundred rupees:

Proviso

Provided further that the company shall be liable to maintain the original documents submitted to it by the claimant and shall produce such documents whenever required:

Proviso

Provided also that in case of non-receipt of verification report along with documents by the Authority after the expiry of sixty days from the date of filing of Form No. IEPF-5, the Authority may reject Form No. IEPF-5, after sending a communication to the claimant and the concerned company, on the e-mail address of the claimant and the company, to furnish response within a period of fifteen days:

Proviso

Provided also that for failure to submit verification report of the claim in accordance with these rules, the company and its Nodal Officer shall be punishable as per the provisions of the Act.

Explanation

In case (i) loss of original physical share certificate or original bond or deposit or debenture certificate or proof of entitlement, the company and the claimant shall follow the procedure as laid down in the Companies (Share Capital and Debenture) Rules, 2014 , the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, guidelines, procedures and circulars issued from time to time and Schedule III of these rules and attach certified copies of all documents as may be required under the said rules or guidelines with the e-verification report; (ii) In addition, the company shall attach a scanned copy of both sides of share certificate generated under clause (d) of sub-rule (3) of rule 6 of these rules along with the e-verification report;(iii) The Company shall be solely responsible for collecting original physical share certificate or original bond or deposit or debenture certificate or proof of entitlement from the claimant and shall be liable for any misuse thereof.

Notes, amendments & references (30)

Refunds to claimants from Fund. – Substituted vide IEPF Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017 GSR 178 dated 28.02.2017. To view the notification, Click Here

1. MCA vide its Circular dated 16.07.2024, has extended the last date for filing Form IEPF-5 without any additional fees to 16.08.2024. To view the Circular. Click Here .

2. Substituted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2024 dated 16.07.2024. To view the Notification, Click Here . To view the Revised Return, Click Here .

3. Substituted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2025 dated 01.10.2025. To view the Notification, Click Here .

(2) Substituted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.09.2019. To view the Notification, Click Here .

Advance Receipts Omitted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2021 dated 09.11.2021. To view the Notification, Click Here

Form IEPF-5 To view the form, Click Here

(2A) Substituted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.08.2019. To view the Notification, Click Here .

Refer Schedule IV. To view the schedule, Click Here

(2A) Every company which has deposited the amount to the Fund shall nominate a Nodal Officer for the purpose of coordination with IEPF Authority and communicate the contact details of the Nodal Officer duly indicating his or her designation, postal address, telephone and mobile number and company authorized e-mail ID to the IEPF Authority, within fifteen days from the date of publication of these rules and the company shall display the name of Nodal Officer and his e-mail ID on its website. Inserted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017 dated 13.10.2017. To view the notification, Click Here

(2B) Inserted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.08.2019. To view the Notification, Click Here .

1. MCA vide its Circular dated 16.07.2024, has extended the last date for filing Form IEPF-2 without any additional fees to 16.08.2024. To view the Circular. Click Here .

3. MCA has extended the last date to file Form IEPFA-1A and IEPF-2 to 31.12.2019 and 30.11.2019 respectively vide its Circular dated 25.10.2019. To view the Circular. Click Here .

4. To view the return, Click Here

3. To view the return, Click Here

(3) Substituted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.09.2019. To view the Notification, Click Here .

MCA vide its Circular dated 16.07.2024, has extended the last date for filing the e-verification report without any additional fees to 16.08.2024. To view the Circular. Click Here .

To view the schedule, Click Here

Provided that in case of non receipt of documents by the Authority after the expiry of ninety days from the date of filing of Form IEPF-5, the Authority may reject Form IEPF-5, after giving an opportunity to the claimant to furnish response within a period of thirty days. Inserted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017 dated 13.10.2017. To view the notification, Click Here

(7) Substituted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.09.2019. To view the Notification, Click Here .

Provided that in case of non receipt of rectified documents by the Authority after the expiry of ninety days from the date of such communication, the Authority may reject Form IEPF-5, after giving an opportunity to the claimant to furnish response within a period of thirty days . Inserted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017 dated 13.10.2017. To view the notification, Click Here

(8) Substituted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.09.2019. To view the Notification, Click Here .

1.MCA vide its Circular dated 16.07.2024, has extended the last date for filing Form IEPF-5 without any additional fees to 16.08.2024. To view the Circular. Click Here .

Inserted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.09.2019. To view the Notification, Click Here .

Provided that Inserted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.09.2019. To view the Notification, Click Here .

(10) The claimant shall file only one consolidated claim in respect of a company in a financial year. Omitted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.09.2019. To view the Notification, Click Here .

(b) Inserted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.08.2019. To view the Notification, Click Here .

(c) Inserted vide the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 dated 14.08.2019 w.e.f., 20.08.2019. To view the Notification, Click Here .

* Substituted vide IEPF Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017 GSR 178 dated 28.02.2017. To view the notification, Click Here

To view the form, Click Here