Odisha Cadre IAS Officer Rajesh Verma has been appointed as Chairperson of the Investor Education and Protection Fund Authority (IEPFA).
Verma will replace Injeti Srinivas following the latter’s superannuation on May 31, 2020. The 1987-batch IAS officer was the Special Secretary in the Ministry of Agriculture and Farmers’ Welfare. He was the Principal Secretary to Odisha Chief Minister and also served as the Principal Secretary, Energy Department before the central deputation.
The other 3 members include Anil K. Sharma, Executive Director, Reserve Bank of India will be an ex officio member of IEPFA till he holds the mentioned post. Gopal V Kumar is another member who has more than 20 years of professional experience in the areas of Economic Research, Corporate Advisory, Business Valuation, Insurance Analytics, Management Consulting, Private Equity, Product Management, and Actuarial Consulting.
Another member is Rakesh Jain, Chartered Accountant who brings with him the experience of over 30 years in the profession. He has rich experience in taxation matters and business advisory. He is a fellow member of The Institute of Chartered Accountants of India and commerce graduate from Agra University.
Investor Education and Protection Fund is a fund set up under Section 205C of the Companies Act, 1956 to pool all the dividends of the Asset Management Companies, matured deposits, share application interests or money, debentures, interests, etc. that are unclaimed for seven years. Investors seeking a refund for their unclaimed rewards approach the Investor Protection and Education Fund.