TMI BlogStandardisation and Simplification of Procedures for Transmission of SecuritiesX X X X Extracts X X X X X X X X Extracts X X X X ..... ion of Procedures for Transmission of Securities 1. SEBI has reviewed the process being followed by the Share Transfer Agents (STAs) and the Depositories / Issuer companies (in-house STAs) for effecting transmission of securities held in physical as well as dematerialized mode. 2. With a view to make the transmission process more efficient and investor friendly, it has been decided in consu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d documentary requirement as given in Annexure A. b. where the securities are held in single name without a nominee, the STAs/issuer companies shall follow, in the normal course, the simplified documentation as given in Annexure A, for a threshold limit of ` 2,00,000 (Rupees Two lakh only) per issuer company. However, the Issuer companies, at their discretion, may enhance the value of such secu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets and shall be complied with at the earliest and not later than 45 days from the date of issue of the circular. 7. This circular is available on SEBI website (www.sebi.gov.in) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... non judicial stamp paper to the effect of identification and claim of legal ownership to the securities b) For value of securities upto ` 2,00,000 (Rupees Two lakh only) per issuer company as on date of application, one or more of the following documents: i. No objection certificate [NOC] from all legal heir(s) who do not object to such transmission (or) copy of Family Settlement Deed dul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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