Key Takeaway: IEPF is not just for equity shares! Under Section 125(2)(c) & (d) of the Companies Act, 2013, matured company Fixed Deposits (FDs) and Debentures (NCDs) with bluechip corporations (Tata Motors, Mahindra, HDFC, Godrej, Bajaj) that remained unpaid for 7 years are deposited into IEPF. You can claim the full principal amount plus applicable statutory interest through Form IEPF-5.
Why Corporate Deposits End Up in IEPF
In the 1990s and 2000s, corporate Fixed Deposits offering 11% to 14% interest were enormously popular among Indian investors. When these deposits matured:
- Investors changed addresses and never received maturity cheques sent by post.
- Original FDR certificates were misplaced or kept in old bank lockers.
- Depositors passed away and family members had no idea these deposits existed.
After remaining unpaid for 7 years from maturity date, the issuing company is legally mandated to transfer the entire principal balance and accrued interest to the IEPF Authority under the Ministry of Corporate Affairs (MCA).
Checklist: Documents for Claiming Matured FDs & Debentures
- Original Fixed Deposit Receipt (FDR) / Debenture Certificate: Or an Indemnity Bond for lost FDR if misplaced.
- E-Form IEPF-5: Filed under the MCA portal selecting "Matured Deposits" or "Matured Debentures".
- Advance Receipt: Duly stamped with a revenue stamp and signed.
- Indemnity Bond: On non-judicial stamp paper as prescribed by MCA.
- Aadhaar-Linked Bank Account Proof: Cancelled cheque showing applicant name, account number, and IFSC code.
- Client Master List (CML): If claiming convertible debentures.
Frequently Asked Questions
Do matured corporate fixed deposits get transferred to IEPF?
Yes. Under Section 125(2)(c) of the Companies Act, 2013, matured company deposits remaining unpaid or unclaimed for 7 years from the date they became due are mandatorily transferred to the Investor Education and Protection Fund (IEPF).
Does IEPF pay interest on matured corporate deposits and debentures?
Yes, statutory interest accrued up to the date of deposit transfer to the IEPF is calculated and refunded directly to the claimant's bank account.
What if the original Fixed Deposit Receipt (FDR) is lost?
You can still file an IEPF-5 claim by furnishing an Indemnity Bond for lost FDR, banker verification letter, and affidavit confirming that the receipt is misplaced and has not been encashed.
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