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With reference to the Investor Education and Protection Fund Authority, consider the following statements:
1. It has been established under Section 125 of the Companies Act 2013 for administration of the IEPF fund as per section 125 (3) of Companies Act 2013.
2. It works under the administrative control of Ministry of Finance.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
With reference to the Investor Education and Protection Fund Authority...
Ministry of Corporate Affairs (MCA) has further simplified claim settlement process through rationalization of various requirements under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.
  • Investor Education and Protection Fund Authority (IEPFA) has been established under Section 125 of the Companies Act 2013 for administration of the IEPF fund as per section 125 (3) of Companies Act 2013.
  • The main objective of the authority includes to promote Investor Education, Awareness & Protection, refund unclaimed shares, dividends and other amounts transferred to it under sections 124 and 125 of the Companies Act 2013 to the rightful claimants.
  • IEPFA works under the administrative control of MCA.
Hence only statement 1 is correct.
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With reference to the Investor Education and Protection Fund Authority, consider the following statements:1. It has been established under Section 125 of the Companies Act 2013 for administration of the IEPF fund as per section 125 (3) of Companies Act 2013.2. It works under the administrative control of Ministry of Finance.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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With reference to the Investor Education and Protection Fund Authority, consider the following statements:1. It has been established under Section 125 of the Companies Act 2013 for administration of the IEPF fund as per section 125 (3) of Companies Act 2013.2. It works under the administrative control of Ministry of Finance.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Investor Education and Protection Fund Authority, consider the following statements:1. It has been established under Section 125 of the Companies Act 2013 for administration of the IEPF fund as per section 125 (3) of Companies Act 2013.2. It works under the administrative control of Ministry of Finance.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Investor Education and Protection Fund Authority, consider the following statements:1. It has been established under Section 125 of the Companies Act 2013 for administration of the IEPF fund as per section 125 (3) of Companies Act 2013.2. It works under the administrative control of Ministry of Finance.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?.
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