SEBI and Ministry launch 'Niveshak Shivir' for investor assistance
SEBI and the Ministry of Corporate Affairs have launched the 'Niveshak Shivir' initiative to assist investors in reclaiming unclaimed dividends and shares, enhancing financial literacy, and reducing intermediary reliance. The program will feature helpdesks for direct interaction with company representatives and RTAs, starting in Mumbai and Ahmedabad, with plans to expand to more cities.
New Delhi [India], May 11 (ANI): Market regulator Securities and Exchange Board of India (SEBI) and the Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, convene a strategic preparatory meeting in Mumbai for Niveshak Shivir initiative.
Niveshak Shivir - a nationwide investor assistance initiative aimed at enabling investors to reclaim unclaimed dividends and shares with greater ease, improving financial literacy and reducing reliance on intermediaries.
The initiative will feature dedicated helpdesks, allowing investors to interact directly with company representatives and Registrars and Transfer Agents (RTAs) for end-to-end assistance.
The "Niveshak Shivir" initiative will commence later this month in Mumbai and Ahmedabad, with plans to expand to other cities with high volumes of unclaimed investor assets.
The meeting was attended by Anita Shah Akella, CEO of IEPFA and Joint Secretary in the Ministry of Corporate Affairs, along with IEPFA officials; Ananth Narayan G., Whole-Time Member, SEBI; Shashi Kumar Valsakumar and Jeevan Sonparote, Executive Directors, SEBI; and other SEBI officials.
Representatives from key financial market infrastructure institutions were also present, including the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), National Securities Depository Limited (NSDL), Central Depository Services Limited (CDSL), and Registrars and Transfer Agents (RTAs) such as Link Intime and KFin Technologies.
Several key action points were discussed during the meeting aimed at enhancing communication with shareholders whose shares are subject to transfer to IEPFA.
Shareholders holding shares in dematerialised form that are due for transfer to the IEPFA are advised to contact the respective company directly for clarification and support.
Those holding shares in physical form should check the status of their shares on the IEPFA website. If the shares have already been transferred, they can file a claim using Form IEPF-5.
Alternatively, they may seek assistance from the company's Registrar and Transfer Agent (RTA).
The IEPFA also offers a search facility that enables shareholders to verify whether their shares have been transferred or are still held by the company. This feature helps claimants determine the current status of their shares, promoting timely action and minimising delays in the recovery process. (ANI)