Unclaimed mutual fund amounts allowed in dedicated liquid plans; enhanced disclosure and payout rules secure claimant principal and earned income. Unclaimed redemption and dividend amounts may be invested in a separate Liquid or Money Market Mutual Fund plan without exit load and with TER capped at fifty basis points. Mutual Funds and AMFI must publish lists of investors with unclaimed amounts on their websites (accessible upon proper credentials) and disclose prevailing values in periodic account statements. Claims within three years receive principal plus income earned; claims after three years receive principal plus income only up to the end of the third year, with subsequent income directed to investor education. Simple and performing schemes explicitly include retirement benefit and liquid/money market schemes.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Unclaimed mutual fund amounts allowed in dedicated liquid plans; enhanced disclosure and payout rules secure claimant principal and earned income.
Unclaimed redemption and dividend amounts may be invested in a separate Liquid or Money Market Mutual Fund plan without exit load and with TER capped at fifty basis points. Mutual Funds and AMFI must publish lists of investors with unclaimed amounts on their websites (accessible upon proper credentials) and disclose prevailing values in periodic account statements. Claims within three years receive principal plus income earned; claims after three years receive principal plus income only up to the end of the third year, with subsequent income directed to investor education. Simple and performing schemes explicitly include retirement benefit and liquid/money market schemes.
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