Recovery of Shares
Vijay Balsana
06 Aug, 2024
Many people invest in shares and forget to claim them or let them expire before claiming them. As a result, the money often remains unclaimed for many years. To address this, the Ministry of Corporate Affairs established the IEPF to ensure that unclaimed shares can be transferred to and retrieved by the rightful owners.
Shareholders of a company can claim a refund of their unclaimed shares through the recovery of shares from IEPF that the company has transferred under the provisions of Section 124 of the Companies Act, 2013, and the Investor Education and Protection Fund Rules, 2016.