Government of India has simplified the reporting process for companies handling unclaimed dividends, deposits, and share application refunds. The number of required forms has been reduced from five to three by merging certain forms, streamlining compliance. Additionally, fund transfers to the Investor Education and Protection Fund (IEPF) are now integrated with Bharatkosh via the MCA21 portal, enabling Straight Through Processing (STP) without manual intervention. This automation ensures that claimants can retrieve all transferred amounts through a single claim, making the refund process more efficient. As of the end of FY 2023-24, the gross receipts in the IEPF Authority stood at ₹8,237.20 crore, with a net balance of ₹8,107.81 crore after refunds and other adjustments.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
LOK SABHA
UNSTARRED QUESTION NO. 48
ANSWERED ON MONDAY THE 3RD FEBRUARY, 2025
REPORTING PROCEDURE FOR COMPANIES ON UNCLAIMED DIVIDENDS
QUESTION
48. Dr. C M Ramesh:
Will the Minister of CORPORATE AFFAIRS
be pleased to state:
(a) whether the Government has simplified reporting process for companies on unclaimed dividends, deposits and share application refunds;
(b) if so, the details thereof;
(c) the extent by which the above is helpful to further smoothen the claim process for investors;
(d) whether the total balance amount in the Investor Education and Protection Fund Authority is more than Rs. 6000 crore; and
(e) if so, the details thereof ?
ANSWER
MINISTER OF STATE OF THE MINISTRY OF CORPORATE AFFAIRS AND MINISTRY OF ROAD TRANSPORT AND HIGHWAYS
(HARSH MALHOTRA)
(a) & (b):- The Number of forms required to be filed by companies has been reduced from 5 to 3. This has been achieved by merging Form IEPF-3 with IEPF-4 and form IEPF-7 with IEPF-1. The transfer of amount to IEPF fund has been integrated with Bharatkosh through MCA21 and all the company forms are being taken on record through STP (Straight Through Process) without manual intervention
(c) As the transfer of fund to IEPF and reporting has been made STP, the claimants shall be able to claim the refund of all the amount transferred to the IEPF, together in a single claim.
(d) & (e): Details of Funds for dividend at the end of FY 2023-24 in IEPF Authority is as under:
| Gross Receipt in the Fund (in crores) | Net Balance – after refund etc. (in crores) |
| ₹8237.20 | ₹ 8107.81 |
