IEPFA, SEBI prepare to launch 'Niveshak Shivir' initiative

New Delhi, May 10 (IANS) In an effort to enhance investor outreach and streamline the process of reclaiming unclaimed dividends and shares, the Investor Education and Protection Fund Authority (IEPFA) organised a preparatory meeting in collaboration with the Securities and Exchange Board of India (SEBI) in Mumbai.

This strategic meeting marks a crucial milestone in the rollout of “Niveshak Shivir” – a nationwide investor assistance initiative aimed at enabling investors to reclaim unclaimed dividends and shares with greater ease, improving financial literacy and reducing reliance on intermediaries, the Ministry of Corporate Affairs said in a statement on Saturday.

The “Niveshak Shivir” initiative will commence later this month in Mumbai and Ahmedabad, with plans to expand to other cities with high volumes of unclaimed investor asset.

The initiative will feature dedicated helpdesks, allowing investors to interact directly with company representatives and Registrars and Transfer Agents (RTAs) for end-to-end assistance.

To facilitate better communication with shareholders whose shares are liable for transfer to the IEPFA, several action points were deliberated at the meeting.

As part of the action points, shareholders holding shares in dematerialised form, due for transfer to IEPFA, are encouraged to contact the respective company directly for clarification and support and shareholders holding shares in physical form should verify the status of their shares on the IEPFA website.

If the shares have already been transferred, they can initiate a claim by filing Form IEPF-5. Alternatively, they may contact the company’s Registrar and Transfer Agent (RTA) for assistance.

The IEPFA provides a search facility that enables shareholders to check whether their shares have been transferred to the IEPFA or are still with the company. This allows claimants to determine the current status of their shares, facilitating timely action and minimizing delays in the recovery process.

The meeting was attended by Anita Shah Akella, CEO of IEPFA and Joint Secretary in the Ministry of Corporate Affairs, along with IEPFA officials.

--IANS

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