New Delhi [India], July 20 : The government is working on a system to reduce the timelines for processing of claims, said Anita Shah Akella, CEO, Investor Education and Protection Fund Authority (IEPFA) and Joint Secretary, Ministry of Corporate Affairs.
Speaking at a Seminar on IEPF, Corporate Exits and Investors Protection organised by industry body PHDCCI earlier this week, she said that presently the time taken to settle claims is too long as there is a lot of reliance on physical verification to certify and verify actual claimant.
According to a statement from PHDCCI, the official shared a few steps taken by the IEPF Authority to improve claimant experience including search facility to check if shares are with IEPFA or Companies; Integration of MCA21, Depositories, PFMS and Faster verification of claimant identity and entitlement by prevalidation of details at form filing stage using Aadhaar-PAN-Demat-Bank linkage, among others.
Akella further highlighted the steps taken to improve greviance redressal system.
She said that the ticketing system has been implemented on the MCA Portal thus helping in tracking of responses.
The Government is also conducting Niveshak Panchayat in Delhi every week and Niveshak Sunwai in different cities from time to time.
The initiative of holding Niveshak Shivir camps across the country in partnership with SEBI for end to end resolution of issues of physical shareholders has also commenced with the first one already held in Pune.
Sameet Gambhir, Chair, Corporate Affairs Committee, PHDCCI gave the theme address where shared that numerous issues are still being encountered by the investors who are trying to get their claims from IEPF.
The Seminar was a part of Knowledge Series on Corporate Affairs being organised by the Corporate Affairs Committee for 2025-26.
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