Who is Eligible to Apply for Shares Recovery from IEPF in India?

[ameeksingh]

The Investor Education and Protection Fund (IEPF) is a statutory body under the Ministry of Corporate Affairs (MCA), established to protect investors' interests. When shares, dividends, or other financial assets remain unclaimed for seven consecutive years, they are transferred to the IEPF. However, eligible claimants can recover these assets by filing a claim with the IEPF Authority.

Eligible Persons to Apply for Recovery from IEPF:

1. Registered Shareholders (Original Owners)
   The individual in whose name the shares or dividends were originally held is eligible to apply for recovery of shares from IEPF. They must provide proof of identity and ownership.
2. Legal Heirs or Successors
   If the original shareholder is deceased, their legal heir, nominee, or successor can file a claim. This requires additional documentation, such as:
   • Death certificate of the shareholder
   • Succession certificate, probate, or legal heir certificate
   • No-objection certificates (NOCs) from other legal heirs, if applicable
3. Nominees
   If the shareholder had nominated someone for their holdings, the nominee can apply directly for recovery from IEPF by submitting nomination details and identification documents.
4. Guardians of Minor Shareholders
   If the rightful shareholder is a minor, their legal guardian can file a claim on their behalf.

Important Notes:

• Only one consolidated claim per company can be filed in a financial year.
• Claims must be filed online through the IEPF-5 form and followed by the submission of physical documents to the concerned company and the IEPF Authority.

Proper documentation and due process are critical for successful recovery. Seeking legal or professional help is advised for complex claims or large amounts.