Lok Sabha Question No. 1927 (UNSTARRED), answered on 2018-12-21
Subject: Investor Education and Protection Fund
Ministry: CORPORATE AFFAIRS
Asked by: Tejpratap Singh,Yadav

## MINISTRY OF CORPORATE AFFAIRS

## GOVERNMENT OF INDIA LOK SABHA

UNSTARRED QUESTION NO. 1927 ANSWERED ON FRIDAY, THE 21 TH  DECEMBER, 2018

[AGRAHAYANA 30, 1940 (SAKA)]

## INVESTOR EDUCATION AND PROTECTION FUND QUESTION

1927. SHRI TEJ PRATAP SINGH YADAV:

Will the Minister of CORPORATE AFFAIRS

कारपोरेट कार्य मंत्री

be pleased to state:

- (a) Whether the Government has set up the Investor Education and Protection Fund (IEPF) to distribute amount to eligible depositors who have suffered losses due to wrongful act by companies and if so, the details thereof;
- (b) the  details  of  funds  allocated  to  Non-Government  Organisations  (NGOs)  and physical performance of IEPF during the last three years;
- (c) the details of complaints regarding the misappropriation of funds by NGOs and action taken against them;
- (d) whether  the  Government  has  launched  an  Investor  Helpline  to  provide  a mechanism  for  redressal  of  Investor's  grievances  and  if  so,  the  details  thereof including the number of complaints received, resolved and pending; and
- (e) the  steps  being  taken  by  the  Government  to  protect  the  interest  of  small investors?

## ANSWER

THE MINISTER OF STATE FOR LAW AND JUSTICE AND CORPORATE AFFAIRS                             (SHRI P.P. CHOUDHARY)

( श्री पी . पी . चौधरी )

विधध और न्र्ार् एिं कारपोरेट कार्य मंत्रालर् में राज्र् मंत्री

(a): Yes madam, The Investor Education and Protection Fund (IEPF) is to be inter-alia utilised for distribution of disgorged amount among eligible applicants in accordance with the disgorgement orders issued by the Court of Law. Till 30.11.2018, no such order for distribution of such amount has been received by Investor Education and Protection Fund Authority.

(b) & (c): During the last three years no funds have been allocated from IEPF to NonGovernment Organisations (NGOs) and hence no complaints regarding misappropriation of funds by NGOs have been received in last three years.

During the last three years, the performance of IEPF has been as under:

| Year                        |   Number of Investor Awareness Programs (IAPs) |   Number of Claims Settled |
|-----------------------------|------------------------------------------------|----------------------------|
| 2016-2017                   |                                           2171 |                         18 |
| 2017-2018                   |                                           5876 |                        623 |
| 2018-2019 (Upto 30.11.2018) |                                           7614 |                        476 |

(d):  The  IEPF  Authority  (IEPFA)  has  a  toll  free  helpline  to  provide  status  of  refund applications to the claimants.

(e):  Investors  Awareness  Programmes  (IAPs)  across  the  country  are  organized  by IEPFA  with  the  objective  of  creating  awareness  amongst  the  investors  about fraudulent schemes and facilitating informed investment decisions. IAPs, in the form of  audio  visual  programmes,  are  also  being  organized  in  the  rural  areas  through Common  Service  Centres  set  up  under  Ministry  of  Electronics  and  Information Technology,  Government  of  India.  Messages  for  creating  awareness  among  the investors are also disseminated through print and electronic media.

*********