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Refunds to claimants from Fund.

Rule 7 - Rules - Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 - Rule 7 - 1[7. Refund to claimants from Fund.- (1) Any person whose shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares etc., has been transferred to the Fund, may claim the shares under proviso to sub-section (6) of section 124 or ap .....

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s enumerated in Form IEPF-5 to the concerned company at its registered office for verification of his claim. 2[(2A) Every company which has deposited the amount to the Fund shall nominate a Nodal Officer for the purpose of coordination with IEPF Authority and communicate the contact details of the Nodal Officer duly indicating his or her designation, postal address, telephone and mobile number and company authorized e-mail ID to the IEPF Authority, within fifteen days from the date of publicatio .....

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PF5, after giving an opportunity to the claimant to furnish response within a period of thirty days.] (4) After verification of the entitlement of the claimant- (a) to the amount claimed, the Authority and then Drawing and Disbursement Officer of the Authority shall present a bill to the Pay and Accounts Office for e- payment as per the guidelines, (b) to the shares claimed, the Authority shall issue a refund sanction order with the approval of the Competent Authority and shall credit the shares .....

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d in writing specifying the reasons for the delay and the same shall be communicated to the claimant in writing or by electronic means. (7) In cases, where the application is incomplete or not approved, a communication shall be sent to the claimant and the concerned company by the Authority detailing deficiencies of the application. 4[Provided that in case of non receipt of rectified documents by the Authority after the expiry of ninety days from the date of such communication, the Authority may .....

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transmission of shares is received after the transfer of shares by company to the Authority, the company shall verify all requisite documents required for registering transfer or transmission and shall issue letter to the claimant indicating his entitlement to the said security and furnish a copy of the same to the Authority while verifying the claim of such claimant. (10) The claimant shall file only one consolidated claim in respect of a company in a financial year. (11) The company shall be .....

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2-2017, w,e,f, 28th February, 2017, before it was read as, "7. - (1) Any person, whose shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares, etc. has been transferred to the Fund, may Claim the shares under provision to sub-section (6) of section 124 or apply for refund. under clause (a) of sub-section (3) of section 125 or under proviso to sub-sec .....

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ed Office for verification of his claim. (3) The company shall. within fifteen days of receipt of claim form, send a verification report to the Authority in the format specified by the Authority along with all documents submitted by the claimant. (4) After verification of the entitlement of the claimant- (a) to the amount claimed, the Authority and then Drawing and Disbursement Officer of the Authority shall present a bill to the Pay and Accounts Office for e- payment as per the guidelines. (b) .....

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