Section 7(4) in The Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016
(4)After verification of the entitlement of the claimant-(a)to the amount claimed, the Authority and then Drawing and Disbursement Officer of the Authority shall present a bill to the Pay and Accounts Office for e- payment as per the guidelines,(b)to the shares claimed, the Authority shall issue a refund sanction order with the approval of the Competent Authority and shall credit the shares to the DEMAT account of the claimant to the extent of the claimant's entitlement.
