Common and simplified norms for processing investor’s service requests by RTAs and norms for furnishing PAN, KYC details and Nomination
Summary
This circular mandates the furnishing of PAN, KYC, and nomination details for holders of physical securities in listed companies. It establishes procedures for freezing folios lacking these details and outlines simplified norms for processing investor service requests by Registrars to an Issue (RTAs). The document also specifies timelines for compliance, reporting obligations, and the electronic modes available for submitting documents and grievances. Paragraphs 20.3 and 20.4 mandate that entities disseminate the circular's provisions to constituents, stakeholders, and on their websites. Paragraph 21 establishes that the circular is issued under Section 11(1) of the SEBI Act to protect investors and regulate the securities market. Paragraph 22 directs users to access the circular on the SEBI website under the Legal Framework category. This section details the procedures for handling major signature mismatches, name changes, and updates to bank or address details. It mandates specific documentation requirements for proof of identity and address as listed in Annexures E and F. Additionally, it provides a comprehensive table of forms required for various investor services such as KYC
Text
It shall be mandatory for all holders of physical securities in listed companies to furnish PAN, Nomination, Contact details, Bank A/c details and Specimen signature for their corresponding folio numbers.
The folios wherein any one of the cited document/details as in para – 4 above are not available on or after October 01, 2023, shall be frozen by the RTA.
for any payment including dividend, interest or redemption payment in respect of such frozen folios, only through electronic mode with effect from April 01, 2024.
Frozen folios shall be referred by the RTA / listed company to the administering authority under the Benami Transactions (Prohibitions) Act, 1988 and/or Prevention of Money Laundering Act, 2002, if they continue to remain frozen as on December 31, 2025.
Self-attested copies of documents will be accepted by the RTA for processing of service requests, unless otherwise prescribed in the Companies Act, 2013 or the Rules issued thereunder or in SEBI Regulations or Circulars issued thereunder.
The security holder/claimant may provide the documents/details to the RTAs for various service requests by way of ‘In Person Verification’ (IPV) or Post or electronic mode with e-sign; unless otherwise prescribed...
For any service request except transmission and request for issuance for duplicate security certificates, indemnity shall not be required unless the same is specifically provided...
RTAs shall update the PAN and KYC details across all the folios of the holder managed by it and details which are already available with the RTA are to be overwritten, upon specific authorization for the same from the holder, as provided in Form ISR-1.
RTA shall update the folio(s) of the holder with the information on 1) present address, 2) bank details, 3) E-mail address and 4) mobile number from the details available in the Client Master List (CML)...
RTAs shall process any of the aforesaid requests from the holder, within timelines as mentioned in the circular no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/ 2021/670 dated November 26, 2021...
RTAs shall provide their complete contact details (viz. postal address, phone numbers and e-mail address etc.) on their respective websites. The same shall also be provided on the websites of the listed companies and the stock exchanges...
While processing service requests and related complaints, the RTAs shall raise all objections, if any, in one instance only.
You have read the preview. Create a free account to read the full document and see every order that applied it.
Free accounts include 10 searches/day with full text access.
Source: SecMarx — Common and simplified norms for processing investor’s service requests by RTAs and norms for furnishing PAN, KYC details and Nomination. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.