Investors Protection Fund to be made operational

By Our Legal Correspondent

NEW DELHI, DEC. 13. The Department of Company Affairs (DCA) has decided to make operational the Investors Education and Protection Fund and to strengthen the measures for the protection of investors.

This was decided at a meeting convened by the Secretary of DCA, Dr. P. L. Sanjeev Reddy with representatives of the Reserve Bank of India, Securities and Exchange Board of India, National Stock Exchange, Unit trust of India and other financial institutions and the three professional institutes of the chartered accountants, cost accountants and company secretaries.

According to an official release, it was agreed that all the agencies would provide integrated and coordinated approach to the DCA in evolving a right mechanism for redressal of grievances of investors by empowering them through a sustained awareness and education programme, solving the problems of investors online with the help of enabling technology with adequate networking and linkages among all the agencies.

It was also agreed to involve the three institutes to strengthen the disciplinary action on the part of chartered accountants and company secretaries for making the mechanism for redressal of investors grievances effective.

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Section  : Business
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