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India Gazette
4 days ago
- Business
- India Gazette
IEPFA and SEBI launch first Niveshak Shivir in Pune to empower investors and resolve unclaimed dividends
New Delhi [India], June 1 (ANI): The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, in collaboration with the Securities and Exchange Board of India (SEBI), successfully launched the pilot chapter of Niveshak Shivir in Pune on Sunday. The initiative is a part of IEPFA's continued mission to empower investors and strengthen financial literacy. The event marked a significant step in facilitating direct engagement with investors and addressing unresolved financial claims, according to the Ministry of Corporate Affairs. In line with IEPFA's broader investor outreach initiatives, Niveshak Shivir was conceptualised to assist investors in resolving pending issues related to unclaimed dividends and shares, updating KYC and nomination details, and facilitating faster settlements of claims - all under one roof. Over 450 claimants participated enthusiastically in the event, which attracted investors and stakeholders from Pune and nearby regions. By bringing together representatives from MIIs (Market Infrastructure Institutions), Registrars and Transfer Agents (RTAs), Depositories and Depository participants, the event successfully created awareness of the processes, thereby ensuring a transparent and seamless awareness towards demat of physical shares, updating KYC and nomination and the processes of IEPF claim were demystified. Investors were guided through every step of the process by trained officials at nineteen dedicated kiosks. To further streamline the process, search facility was made available at the venue, enabling participants to quickly check whether they or their family members had held any unclaimed shares or dividends. Once verified, trained officials assisted claimants in accurately filling out the IEPF-5 form, ensuring a smooth and guided claim submission process. Anita Shah Akella, CEO of IEPFA and Joint Secretary, Ministry of Corporate Affairs, along with Ananth Narayan, whole time Member, SEBI, and other officials inaugurated a special investor guide brochure developed by NSDL titled 'Investor Guide to Claiming Unclaimed Shares and Dividends.' The brochure outlines, in simple language, the step-by-step process for reclaiming unclaimed dividends and shares through the IEPF portal, key documents required (such as PAN, Aadhaar, and Entitlement Letter), and tips for avoiding common reasons for claim rejections. This initiative is expected to further empower investors with the knowledge needed to effectively navigate the claim process. The Shivir is the first in a planned series of Niveshak Shivir events to be held in major cities with significant volumes of unclaimed investor funds. This reflects IEPFA's deep commitment to investor-centric governance and transparency. Citywise calendar of events of Niveshak Shivir would be rolled out based on the learnings of this pilot. The Government of India established the Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs. Its mandate is to promote investor awareness, ensure effective grievance redressal, and facilitate the recovery of unclaimed investments through accessible and user-friendly platforms. (ANI)
Economic Times
19-05-2025
- Business
- Economic Times
Rs 11,000 crore in Reliance shares lie unclaimed, says Gurmeet Chadha warning of IEPF bottlenecks
Responding to Chadha's post, Abhinav Roy commented, 'Retrieving shares from the IEPF is extremely frustrating. I applied for my father's shares, and even after 1.5 years and getting all approvals from the RTA, the shares still haven't been credited!' Tired of too many ads? Remove Ads No of unclaimed shares in Reliance (IEPF account) is 7.4 cr .. amount ~11000 cr Delhi NCR alone has 1100 cr worth of shares which are unclaimed. L&T worth 2000 cr , ICICI bank 1300 cr , asian paints 500 cr… Mutual funds worth 2700 cr are unclaimed.. Pl get ur shares… undefined Gurmeet Chadha (@connectgurmeet) May 18, 2025 Growing pile of dormant assets Tired of too many ads? Remove Ads Calls for reform mount Over Rs 11,000 crore worth of Reliance Industries Ltd RIL ) shares remain unclaimed in the Investor Education and Protection Fund (IEPF), wealth advisory firm Complete Circle Consultants' CIO Gurmeet Chadha flagged, highlighting a growing pile of dormant equity and mutual fund assets stranded amid a sluggish and opaque process of reclaiming such a post on X (formerly Twitter) dated May 18, Chadha wrote, 'No of unclaimed shares in Reliance (IEPF account) is 7.4 crore .. amount ~Rs 11000 crore. Delhi NCR alone has 1100 crore worth of shares, which are unclaimed.' He also highlighted large sums tied up in shares of Larsen & Toubro (Rs 2,000 crore), ICICI Bank (Rs 1,300 crore), and Asian Paints (Rs 500 crore), in addition to Rs 2,700 crore in unclaimed mutual fund urged investors to act swiftly: 'Pls get ur shares dematted, ensure all MFs have nomination and bank details updated. Do a forensic search for your family accounts and seek professional help.'The IEPF, set up to hold unclaimed dividends and shares, has become a repository of dormant wealth as beneficiaries struggle with procedural roadblocks. Chadha's post triggered a spate of responses from investors who shared long-standing grievances about the inefficiency of the system.'Getting shares out of IEPF is the most time consuming and inefficient process. There is no proper process/timelines defined between IEPF and the registrar/nodal officers of the companies. People just give up half way,' one user wrote. Several pointed to issues such as mismatches in personal details and a lack of coordination between the IEPF Authority and company user said, 'I am trying to get it done via an agent. The very first thing he told me was it'll at least take a minimum of 2 years. It's a scam actually. So much of documentation first and then wait at IEPF!'The prolonged processing timelines and poor transparency have led to broader calls for policy-level reforms. 'Govt must ease the process of claiming shares in IEPF,' one user posted, echoing several others who said they were still awaiting share transfers more than a year after filing their claims.'Claiming Shares from IEPF is not so easy task. I filled application in IEPF in dec its in processing. infact application filled in last year nov i.e nov 2023 is in process. so back log is very very high..' another user Roy, responding to Chadha's post, said, 'Getting back shares from IEPF is a real pain. Have applied for my father's shares and it's been 1.5 yrs still not got the shares credited inspite of everything being approved from the RTA!'Chadha's comments serve as a reminder of the importance of regular portfolio maintenance and documentation hygiene in an environment where administrative red tape can erode investor wealth.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
19-05-2025
- Business
- Time of India
Rs 11,000 crore in Reliance shares lie unclaimed, says Gurmeet Chadha warning of IEPF bottlenecks
Over Rs 11,000 crore worth of Reliance Industries Ltd ( RIL ) shares remain unclaimed in the Investor Education and Protection Fund (IEPF), wealth advisory firm Complete Circle Consultants' CIO Gurmeet Chadha flagged, highlighting a growing pile of dormant equity and mutual fund assets stranded amid a sluggish and opaque process of reclaiming such assets. In a post on X (formerly Twitter) dated May 18, Chadha wrote, 'No of unclaimed shares in Reliance (IEPF account) is 7.4 crore .. amount ~Rs 11000 crore. Delhi NCR alone has 1100 crore worth of shares, which are unclaimed.' He also highlighted large sums tied up in shares of Larsen & Toubro (Rs 2,000 crore), ICICI Bank (Rs 1,300 crore), and Asian Paints (Rs 500 crore), in addition to Rs 2,700 crore in unclaimed mutual fund investments. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Chadha urged investors to act swiftly: 'Pls get ur shares dematted, ensure all MFs have nomination and bank details updated. Do a forensic search for your family accounts and seek professional help.' No of unclaimed shares in Reliance (IEPF account) is 7.4 cr .. amount ~11000 cr Delhi NCR alone has 1100 cr worth of shares which are unclaimed. L&T worth 2000 cr , ICICI bank 1300 cr , asian paints 500 cr… Mutual funds worth 2700 cr are unclaimed.. Pl get ur shares… — Gurmeet Chadha (@connectgurmeet) May 18, 2025 Growing pile of dormant assets The IEPF, set up to hold unclaimed dividends and shares, has become a repository of dormant wealth as beneficiaries struggle with procedural roadblocks. Chadha's post triggered a spate of responses from investors who shared long-standing grievances about the inefficiency of the system. Live Events 'Getting shares out of IEPF is the most time consuming and inefficient process. There is no proper process/timelines defined between IEPF and the registrar/nodal officers of the companies. People just give up half way,' one user wrote. Several pointed to issues such as mismatches in personal details and a lack of coordination between the IEPF Authority and company registrars. Another user said, 'I am trying to get it done via an agent. The very first thing he told me was it'll at least take a minimum of 2 years. It's a scam actually. So much of documentation first and then wait at IEPF!' Calls for reform mount The prolonged processing timelines and poor transparency have led to broader calls for policy-level reforms. 'Govt must ease the process of claiming shares in IEPF,' one user posted, echoing several others who said they were still awaiting share transfers more than a year after filing their claims. 'Claiming Shares from IEPF is not so easy task. I filled application in IEPF in dec its in processing. infact application filled in last year nov i.e nov 2023 is in process. so back log is very very high..' another user noted. Abhinav Roy, responding to Chadha's post, said, 'Getting back shares from IEPF is a real pain. Have applied for my father's shares and it's been 1.5 yrs still not got the shares credited inspite of everything being approved from the RTA!' Chadha's comments serve as a reminder of the importance of regular portfolio maintenance and documentation hygiene in an environment where administrative red tape can erode investor wealth. Also read | Cochin Shipyard, Mazagon, HAL slip up to 4% as defence stocks retreat after last week's rally cools ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
09-05-2025
- Business
- Business Standard
RIL dividend: How to check and claim unpaid dividend
Reliance Industries Ltd (RIL) has asked shareholders to claim their unpaid dividends before the due date to avoid transfer of these amounts to the Investor Education and Protection Fund (IEPF). The company's statement is part of a regulatory requirement to inform shareholders before unclaimed dividends and corresponding shares are moved to IEPF's account. What is IEPF and why your dividends may go there Under Section 124 of the Companies Act, 2013, any dividend that remains unpaid or unclaimed for seven consecutive years is transferred to IEPF. Along with the unclaimed dividend, corresponding shares on which dividends have not been claimed are also moved to the IEPF account. RIL listed details of shareholders whose dividends from previous years remain unclaimed. These pertain to FY17, and the transfer to IEPF is scheduled later this year. How to check if you have unclaimed dividends Steps to check and claim unpaid dividends: View the list of unpaid dividends associated with your account Contact RIL's Registrar and Transfer Agent (KFin Technologies Ltd) for assistance Claim process before IEPF transfer Shareholders must apply in writing to KFin Technologies Ltd along with: A duly signed application Valid identity proof (PAN/Aadhaar) Bank details and cancelled cheque Proof of shareholding All requests must be submitted before the stipulated cut-off to ensure the dividend is credited and shares are not transferred to the IEPF. What if your dividends are already with IEPF? If your dividends and shares have already been transferred to IEPF, you can still claim them by filing Form IEPF-5 online via the Ministry of Corporate Affairs website. Post submission, physical documents must be sent to RIL and the IEPF Authority for verification.
