The Investor Education and Protection Fund Authority (IEPFA) has received a set of recommendations from a high-level committee that proposes a simplified process for low-value investor claims, the Ministry of Corporate Affairs (MCA) said on Saturday.
According to the ministry, the changes are expected to reduce timelines, enhance transparency, and deliver hassle-free services to investors, PTI reported.
The committee comprised representatives from the MCA, IEPFA, the Securities and Exchange Board of India (SEBI), and professional bodies including the Institute of Chartered Accountants of India, Institute of Cost Accountants of India, and Institute of Company Secretaries of India. Industry associations such as FICCI, CII, PHDCCI, and the Registrar Association of India were also part of the panel.
The panel has submitted its report to IEPFA. Its recommendations, once adopted, would apply to claims valued up to Rs 5 lakh in physical securities, Rs 15 lakh in demat securities, and dividends up to Rs 10,000.
The IEPFA, under the Corporate Affairs Ministry, manages unclaimed dividends and shares while promoting investor awareness and financial literacy.
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