MCA Appoints New Chairperson for Investor Education and Protection Fund Authority and Updates Annual Statement of Accounts Rules

The Ministry of Corporate Affairs (MCA), through Notification No. S.O. 4333(E). dated October 03, 2024, has appointed Smt. Deepti Gaur Mukerjee as the Chairperson of the Investor Education and Protection Fund Authority (IEPF Authority). Her appointment will be effective from the day she assumes office. This is in accordance with Section 125 of the Companies Act, 2013, and related rules. She replaces the previous appointee, as mentioned in the notification from May 5, 2016.

In a separate move, the MCA has also issued Notification No. G.S.R. 607(E)., which amends the Investor Education and Protection Fund Authority (Form of Annual Statement of Accounts) Rules, 2018. The amendment, effective from October 03, 2024, changes Rule 5, Sub-rule (2), where the term “one Member” has been replaced with “the chief executive officer” concerning the authority responsible for the annual statement of accounts.

These amendments aim to ensure efficient management and oversight of the Investor Education and Protection Fund, a critical body for protecting and educating investors.

Key Highlights:

New Chairperson: Smt. Deepti Gaur Mukerjee appointed as Chairperson of IEPF Authority.

Amendment to Rules: Change in the official responsible for the annual statement of accounts from “one Member” to the “chief executive officer.”

Effective Date: Both amendments took effect on October 03, 2024.

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