INVESTER EDUCATION AND PROTECTION FUND (IEPF) AUTHORITY:

IEPF (Invester education and protection fund Authority)

CONTEXT:- 

The invester education and protection fund (IEPF) authority has been able to force peerless general finance and investment company LTD to transfer deposits worth about RS 1514 crore to the IEPF.

 

ISSUE:-

# This depositors money was pending with the peerless general finance and investment company limited for the last 15 years.

# This amount was taken by the company by issuing about 1.49 crore deposit certificates and include more than 1 crore individual investors.

ABOUT IEPF:-

# Parent body-union ministry of corporate affairs.

#Status-A Statutory body under complaines Act 2013.

# Mandate-To administer the invester education and protection fund (IPEF) with the objective of promoting Investors education, awareness and protection.

# Administration - secretary ministry of the corporate affairs is the chairperson of the Authority.