The government appointed corporate affairs secretary, Rajesh Verma, as the chairman of the Investor Education and Protection Fund Authority (IEPFA), according to a notification on Wednesday.
Verma shall head the authority as long as he holds the post of secretary at the ministry of corporate affairs.
The appointment was a routine change following Verma’s appointment as MCA secretary after Injeti Srinivas retired from the MCA post on April 30. The post of the chairman of the IE PFA is held by whoever is the current MCA secretary.
As per the notification, Anil K Sharma, executive director of the Reserve Bank of India, PS Narasimha, senior advocate and Gopal V Kumar, actuary and economist, were also appointed as members of the IEPFA.
Sharma replaced Manoj Pandey, joint secretary, MCA as a member of the authority. The remaining members of the IEPFA include Nagendra Parakh, executive director of the Securities and Exchange Board of India and Rajib Sekhar Sahoo, partner at SRB & Associates.
The IEPFA was established in September 2016 to make refunds of shares, unclaimed dividends, matured deposits/debentures from the Investor Education Protection Fund to investors and to promote awareness among investors.
