Investors’ Education Protection Fund (IEPF)

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.... TO, All Chambers of Commerce FICCI, ICAI, ICSI, ICWAI, ASSOCHAM RBI The Department has vide its Circular No. 22/2002 dated 23rd September, 2002 have clarified inter alia that the Investors' Education Protection Fund (IEPF) became operational only on 1st October 2001, and all amounts due for transfer between 1st November 1998 and 30th September 2001 should have been transferred to i....

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....ced with unavoidable practical difficulties arising from the following:- (1) Issue of various debt instruments with varied interest dates; (2) Acceptance of fixed deposits from the public and shareholders over a long period of time; (3) Segregation of accounts in respect of debentures redemption proceeds, fixed deposit repayments and interest thereon was time consuming; (4) Manual main....

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....a reasonable period of time was required to resolve the same, it has been decided that in cases where compliance had actually been made by the company in question on or before 31st March, 2003, by deposit of the requisite amount into the IEPF, the objective of the said circular shall be deemed to have been satisfied and therefore a company need not be proceeded against for any penal action on grou....