Dear Investors,
SUBJECT: EXTENSION OF TIMELINES FOR:
(i)
Nomination in eligible
demat accounts and
(ii) Submission of PAN,
Nomination and KYC details by physical security holders;
and Voluntary nomination for trading accounts
Here came up again One of the Most
awaited Circular issued by SEBI issued vide Ref No SEBI/HO/MIRSD/POD-1/P/CIR/2023/158
dated September 26, 2023 for which everyone was waiting since last Circular of
SEBI wherein the timeline
of September 30, 2023 was prescribed by SEBI circular
SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/42 dated March 27, 2023.
Based
on the representations received from Exchanges, Depositories, Brokers’ Associations and various other stakeholders,
investors, Registrars Association of India and various other stakeholders, it has been decided to extend the last date
for choice of nomination, submission of PAN, Nomination, Contact details, Bank A/c details
and Specimen signature for
their corresponding folio numbers to December 31, 2023.
|
FOR TRADING
AND DEMAT ACCOUNTS |
1. SEBI, vide circular no.
SEBI/HO/MIRSD/RTAMB/CIR/P/2021/601 dated July 23, 2021, stipulates that trading accounts and demat account which
do not have ‘choice of nomination’ by September
30, 20231 shall be frozen.
2. In this respect, based on
the representations received from the Exchanges, Depositories, Brokers’ Associations and various other stakeholders, the following
has been decided:
2.1. Submission of ‘choice of nomination’ for trading accounts
has been made voluntary as a step
towards ease of doing business;
2.2. With respect to demat accounts, it has been decided to extend the last date for submission of ‘choice of nomination’ to December 31, 2023.
|
FOR PHYSICAL SECURITY HOLDERS |
3. As regards physical
securities, SEBI, vide circular no. SEBI/HO/MIRSD/MIRSD- PoD-1/P/CIR/2023/37 dated March 16, 2023, stipulated that folios shall be frozen
if PAN, Nomination, Contact details,
Bank A/c details
and Specimen signature
are not submitted by the holders
by September 30, 2023.
4. Based on the
representations received from investors, Registrars Association of India
and various other stakeholders, it has been decided to extend the last date
for submission of PAN, Nomination, Contact details, Bank A/c details
and Specimen signature for
their corresponding folio numbers to December 31, 2023.
5. Stock Exchanges, Depositories, RTAs and Listed Companies are advised to:
a) take necessary steps to implement the provisions of this circular,
including making necessary amendment to the relevant bye-laws / business
rules / regulations / operational instructions, as the case may be;
b) bring the provisions of
this circular to the notice of their respective constituents and also disseminate this circular on their
websites;
c)
communicate to SEBI, the status of the implementation of the provisions of this circular; and
d)
monitor the compliance of this circular.
6.
This
circular shall come into effect immediately in supersession of relevant provisions contained in various
circulars issued by SEBI including
Master Circulars issued
for Stock Brokers
and Registrars to an Issue
and Share Transfer
Agents dated May 17, 2023.
Thanks & Regards,
CS Ravi Garg
E-mail: csravi2014@gmail.com
:Note for Investors/ Claimant:-
Feel free to discuss any query related to
Claim of Shares and Dividend from IEPF Authority.
Disclaimer:
IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR
ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING
OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.
Please do not print if
not necessary. Let's contribute to a better society.
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