The Investor Education and Protection Fund (IEPF) Authority has been able to recover deposits worth Rs 1,514 crore from Kolkata-based Peerless General Finance and Investment Company.This money of depositors was pending with the company for the last 15 years.
IEPF Authority has been set up under the Ministry of Corporate Affairs, Government of India.It is a statutory body under the Companies Act 2013.
Further,the Corporate Affairs secretary is the Chairperson of IEPF.The authority aims to administer the Investor Education and Protection Fund with the objective of promoting Investor’s Education,Awareness and Protection.
The Authority also takes various initiatives to fulfil its objectives through Investor Awareness Programmes and various other mediums like print, Electronic,Social Media and Community Radio.
The IEPF Authority is also in the process of commissioning an online facility to collect primary information directly from retail investors about the deposits which have matured and are still pending with various entities for repayment or payment of interests.