Strengthening the Guidelines and Raising Industry standards for RTAs, Issuer Companies and Banker to an Issue - Clarification
Summary
SEBI clarifies guidelines for Registrars to an Issue and Share Transfer Agents regarding the collection of PAN and bank details from physical shareholders. The deadline for sending the initial letter via Registered or Speed post is extended to September 30, 2018, allowing it to be bundled with Annual Reports or AGM notices. Subsequent reminders may be sent using alternative modes such as ordinary post or courier.
Text
SEBI, vide circular No. SEBI/HO/MIRSD/DOP1/CIR/P/2018/73 dated April 20, 2018, inter-alia, mandated RTAs to send a letter under Registered / Speed post seeking PAN and bank details within 90 days of the said circular and two reminders thereof after the gap of 30 days.
The timeline for sending the initial letter by Registered / Speed Post to physical shareholders has been extended to September 30, 2018 to enable companies to send the initial letter along with Annual Reports/notice of AGM.
Subsequently, two reminders may be sent by other modes including ordinary post / courier.
Source: SecMarx — Strengthening the Guidelines and Raising Industry standards for RTAs, Issuer Companies and Banker to an Issue - Clarification. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.