SEBI Proposes Timelines for Transfer of Unclaimed NCS Amounts to IEPF/IPEF

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  • Last Updated on 27 October, 2025

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SEBI unclaimed NCS transfer

Consultation Paper; Dated: 24.10.2025

The Securities and Exchange Board of India (SEBI) has proposed an amendment to Regulation 61A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to clarify the timeline and process for the transfer of unclaimed amounts by entities that have issued listed non-convertible securities.

1. Objective of the Proposal

The proposed amendment aims to:

  • Promote ease of doing business,
  • Standardise compliance procedures across issuers, and
  • Align SEBI’s framework with the provisions of the Companies Act, 2013 for consistency and clarity.

2. Key Proposal

  • Timeline for Transfer – Entities with listed non-convertible securities will be required to transfer unclaimed amounts to the Investor Education and Protection Fund (IEPF) or the Investor Protection and Education Fund (IPEF) after the completion of seven years from the date of maturity of such securities.
  • Mode of Transfer – The transfer shall be carried out in accordance with Section 125 of the Companies Act, 2013, ensuring uniformity in procedure and record maintenance.

3. Expected Impact

The amendment will:

  • Eliminate ambiguity regarding the timing and mechanism of fund transfer,
  • Simplify regulatory compliance for issuers, and
  • Enhance investor protection by ensuring timely transfer of unclaimed amounts to designated funds.
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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied