Vinay Vohra & Co.

[Analysis] SEBI Launches a Dedicated Bank Account for Seamless Credits to IPEF by Market Participants

Best Taxation Service

We are a thriving firm of Chartered Accountants with the goal of providing a one-stop shop for all financial services.

Business Strategy & Growth

We believe integrity is the quintessential value that is the engine behind getting things done in the organization.

Highly Dedicated Worker

You can put your trust in the economic realm and expect the best outcome. With a strong team that possesses the necessary skill set .

SEBI Investor Protection and Education Fund Regulations

Table of Contents

  1. Introduction
  2. Diverse Payment Options available for funding IPEF
  3. Details of remitters to be furnished during the payment processing
  4. Comments

1. Introduction

Earlier, SEBI vide its Circular No. SEBI/HO/ISD/ISD/CIR/P/2020/135 dated July 23, 2020 had prescribed that as per Regulation 4(2) of SEBI (Investor Protection and Education Fund) Regulations, 2009, any amount collected by the listed companies, intermediaries and fiduciaries for violation(s) of CoC shall be credited to the SEBI Investor Protection and Education Fund through online mode or by way of demand draft in favour of the Board.
Currently, SEBI vide its Circular No. SEBI/HO/GSD/TAD/P/CIR/2023/149 dated September 04, 2023 has modified the mode of payment for crediting the amount to the SEBI Investor Protection and Education Fund (SEBI IPEF).

SEBI has introduced a new bank account to streamline payments from market participants to SEBI IPEF. Pertaining to this, a link has been made accessible in the Homepage of SEBI website (www.sebi.gov.in) under the head “Click here to make payment to SEBI IPEF”.

Taxmann.com | Research | Company & SEBI Laws

2. Diverse Payment Options available for funding IPEF

The provided link allows the remitter to complete the payment using any of the diversified methods:

(a) Net Banking

(b) NEFT/RTGS

(c) Debit Cards

(d) UPI

3. Details of remitters to be furnished during the payment processing

While making the payment via the above link, the remitter shall furnish the requisite information :

(a) Name of the Payer

(b) PAN

(c) Mobile Number

(d) E-mail ID

(e) Purpose behind the payment

(f) Amount to be paid

4. Comments

The transition from SEBI’s previous requirement of online mode or demand drafts to now exclusively accepting contributions through online mode via a newly opened bank account simplifies the payment process, promoting greater efficiency and accessibility for market participants. This change reflects SEBI’s commitment to embracing digital payment methods and may lead to increased contributions to the Investor Protection and Education Fund (IPEF).

The post [Analysis] SEBI Launches a Dedicated Bank Account for Seamless Credits to IPEF by Market Participants appeared first on Taxmann Blog.

source

1

Auditing - Assurance

2

Goods & Services Tax

3

Investment in India by Foreign Nationals & NRI's

4

Accounting & Bookkeeping

5

International Taxation

6

Startup Services

7

Mergers & Acquisition Advisory

8

Income Tax

9

Corporate Financial Services

10

Indian Business Advisory Service
Have Any Question?

Always willing to lend a hand and answer any questions you may have. It would be great if you could contact us.

Newsletter

Signup our newsletter to get update information, insight or news