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Q1. What is the difference between the Transmission and Transfer of Shares?

Transmission refers to handing over the shares to the legal heir by the operation of law. In contrast, the transfer involves voluntarily handing over the shares to the claimant in exchange for consideration.

Q2. What happens to the Unclaimed Shares?

The unclaimed shares are transferred to the Investor Education and Protection Fund (IEPF).

Q3.Who is eligible for the Recovery of Shares?

Any Individual or entity whose shares, mutual funds, or application amount is unclaimed and transferred to IEPF is eligible to recover shares.

Q4. Is there any legislative framework for the establishment of IEPF?

Yes, the IEFP was established as per Section 125 of the Companies Act.

Q5.Who regulates the IEPF?

The IEPF is regulated by the Ministry of Corporate Affairs (MCA).

Q6. How much time does it take for the company to prepare the verification report?

The company prepares the verification report within 15 days from the receipt of the application by the claimant.

Q7.What is the time period for the recovery of shares from IEPF?

The unclaimed amount is refunded to the claimant within 60 days from the date of receipt of the application.