IEPF
Regulation & taxAlso called: Investor Education and Protection Fund, Unclaimed dividend, Unclaimed dividends
The Investor Education and Protection Fund, to which dividends left unclaimed for a number of consecutive years fixed in the Companies Act — and the shares behind them — are transferred.
In plain terms
Not a confiscation. The rightful owner can claim them back through a prescribed application verified by the company and then the authority, and it is far harder for an heir than for the person who bought the shares.