TMI BlogCommon and Simplified Norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and NominationX X X X Extracts X X X X X X X X Extracts X X X X ..... rs of physical securities 1.4. Freezing of folios without valid PAN, KYC details and Nomination 1.5. Compulsory linking of PAN and Aadhaar by all holders of physical securities 2. Standardized, simplified and common norms for processing investor service request Investors holding securities in physical mode interface with the RTAs, inter-alia, for i) Registering of / Change in / Up-dation of: a) PAN, b) Nominee, c) Contact details (postal address, Mobile number E-mail), d) Bank details and e) Signature. ii) Processing of request for: a) Issue of Duplicate securities certificate b) Replacement / Renewal / Exchange of securities certificate, c) Consolidation of securities certificate d) Sub-division / Splitting of securities certificate, e) Consolidation of folios, f) Endorsement, g) Change in the name of the holder, h) Change in status from Minor to Major and Resident to NRI and vice versa, i) Claim for undelivered securities certificate, prior to its transfer Unclaimed Suspense Account, j) Claim from Unclaimed Suspense (demat) Account k) Transmission and l) Transposition. iii) Services through Depository Participants (DPs) for Demat and Remat In this rega ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d claimants of physical securities to furnish PAN and it is mandatory for RTAs to verify PAN details through the facility as may be provided by the Income Tax Department (ITD). In this regard, SEBI registered RTAs have been authorized as an eligible entity by the ITD to verify PANs through its Online PAN Bulk Verification (PBV) facility. b) Additionally, the Exemptions/clarifications to PAN , as provided in clause D to Instructions/Check List for Filing KYC Forms in Annexure 1 to SEBI circular No. MIRSD/SE/Cir-21/2011 dated October 05, 2011 on Uniform Know Your Client (KYC) Requirements for the Securities Market, shall also applicable for holder(s) / claimant(s) of securities held in physical mode. 2.5. Documents for Proof of Address 2.5.1. The RTA shall obtain any one of the following documents from the holder / claimant, if the address is not available in the folio or for processing the request for its change; a) Valid Passport / Registered Lease or Sale Agreement of Residence / Driving License / Flat Maintenance bill. b) Utility bills like Telephone Bill (only land line), Electricity bill or Gas bill - Not more than 3 months old. c) Identity card / doc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ank details, 3) E-mail address and 4) mobile number from the details available in the Client Master List (CML), if the holder / claimant provides the CML. 2.10. Mode for providing documents / details by investors The RTA shall enable the holder / claimant to provide the aforesaid document / details by any one of the following mode; a) through In Person Verification (IPV): the authorized person of the RTA shall verify the original documents furnished by the investor and retain copy(ies) with IPV stamping with date and initials b) through hard copies which are self-attested and dated c) through electronic mode with e-sign, as elaborated subsequently. 2.11. Timelines for registering of / up-dation of / change in PAN, KYC and nomination RTAs shall process any of the aforesaid request from the holder, within seven working days of receipt of the complete documents / details. However, as provided in the Rule 19 (10) of the Companies (Share Capital and Debenture) Rules, 2014, as amended from time to time, the cancellation or change in nomination shall take effect from the date on which the intimation for the same is received by the company / RTA. 2.12. Dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (s) iii. Securities holder(s) can change their nominee through Form SH-14 Listed companies, RTAs and Stock Exchanges shall make available these three forms in their respective websites. c) Contact details Postal address with PIN, Mobile number, E-mail address RTA shall obtain the folio number from the mobile number and E-mail address provided by the holder, so as to validate the same. d) Bank account details (bank name and branch, bank account number, IFS code) Upon receipt or up-dation of bank details, the RTA shall suo-moto, pay electronically, all the moneys of / payments to the holder that were previous unclaimed / unsuccessful. e) Specimen signature 4.2. From the date of issue of this circular, RTAs shall obtain documents / details of PAN, KYC details and Nomination, wherever, the same is not available in the folio, while processing any service requests or complaint from the holder(s) / claimant(s). 5. Freezing of Folios without PAN, KYC details and Nomination 5.1. The folios wherein any one of the cited document / details are not available on or after April 01, 2023, shall be frozen by the RTA. 5.2. The securities in the frozen folios sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s circular shall come into effect from January 01, 2022 and its provisions shall supersede provisions of previous circulars of SEBI in this regard. 9. RTAs shall provide a certificate of compliance from a practicing Company Secretary, within 45 days of this circular, certifying the changes carried out, systems put in place / new operating procedures implemented etc. to comply with the provisions of this circular. 10. Depositories are advised to take necessary steps to; 10.1. implement the provisions of this circular / make necessary amendment(s) to the relevant bye-laws / business rules / regulations / operational instructions, as the case may be, 10.2. bring the provisions of this circular to the notice of their constituents and 10.3. disseminate this circular on their websites. 11. The Stock Exchanges are advised to; 11.1. comply with the relevant portion(s) of this circular applicable to them, 11.2. bring the provisions of this circular to the notice of listed companies and 11.3. disseminate the same on their websites. 12. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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