The Chief Executive Officer of the Investor Education and Protection Fund Authority (IEPFA) Ms Anita Shah Akella launched Investor Awareness Vans titled “Niveshak Sarathi” to disseminate financial education and raise awareness against fraudulent financial schemes across Delhi -National Capital region (NCR).
The Investor Education and Protection Fund Authority (IEPFA)
It was set up by the Government of India on 7 September 2016 under the Companies Act 2013, to administer the Investor Education and Protection Fund.
Investor Education and Protection Fund (IEPF)
The fund was set up under the Companies act in 1999 under the Union Ministry of Corporate Affairs .
The main aim of the Fund is to promote investors’ awareness and protection of the interests of investors.Here investor means those who have invested in companies shares, debentures, fixed deposits etc.
IEPF Source of Fund
The following amounts that remained unpaid and unclaimed by the investor for a period of seven years from the date they became due for payment are credited to the Fund.They are :
Amounts in the unpaid dividend accounts of the companies
The application moneys received by companies for allotment of any securities and due for refund
Matured deposits with companies
Matured debentures with companies
Grants and donations given to the fund by the Central Government, State Governments, companies or any other institutions for the purposes of the Fund;
And, the interest or other income received out of the investments made from the fund