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With reference to the Investor Education and Protection Fund Authority (IEPFA), consider the following statements:
1. It has been established under Section 125 of the Companies Act 2013.
2. It works under the administrative control of Union 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?
Most Upvoted Answer
With reference to the Investor Education and Protection Fund Authority...
The Investor Education and Protection Fund Authority (IEPFA) has signed a MoU with Indira Gandhi National Open University (IGNOU) for promoting Investor Education and Financial literacy among youth by utilizing the tele-lecturing facility of Gyan Darshan Channel.
  • This association with IGNOU/Gyan Darshan channel will help in propagating the message of Investor Education and Awareness among a large group of present and prospective stakeholders.
  • The panel of resource persons for the lecture series would include experts from professional institutions such as ICAI, ICSI & Senior officials from IEPFA, Ministry of Corporate Affairs and other regulators.
  • The proposed lecture series of 75 episodes will be live tele-lecturing series on 24x7 Gyan Darshan TV channel.
Investor Education and Protection Fund Authority (IEPFA)
  • 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 Ministry of Corporate Affairs.
Hence only statement 1 is correct.
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With reference to the Investor Education and Protection Fund Authority (IEPFA), consider the following statements:1. It has been established under Section 125 of the Companies Act 2013.2. It works under the administrative control of Union 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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