Share Transfer - Registration of - SEBI’s uniform norms for good/bad deliveries - Companies Law - Circular : No. SMD/RCG/3811/96,

Circular : No. SMD/RCG/3811/96, dated 19-8-1996, issued by the Securities and Exchange Board of India. Subject:- S hare Transfer - Registration of - SEBI s uniform norms for good/bad deliveries Please refer to our Circular No. SMD/RCG/2796/96, dated July 16, 1996 on the above subject. After issue of the circular, certain clarifications were sought from the market intermediaries relating to few items mentioned in the Annexure A enclosed to our Circular under reference. We hereby clarify those items as per the Annexure enclosed. You are requested to substitute the clauses mentioned in the enclosed Annexure to those stated in original Annexure. Annexure A SEBI approved good/bad delivery norms A. Transfer Deeds No. Description Good/Bad 3. Transfer Deeds with correction like erasure, overwriting, alteration or crossing out in the material portion. Good if properly authenticated under the full signatures of all the transferor(s). Undernoted corrections/alterations are not considered as correction in material portion: ( A ) Minor spelling mistake in the following fields are valid without the transferor s authentication provided the word can be properly identified: Good a. Name of company. b. Number of shares in words. c. Names of the shareholders. Illustration Good Bad Telco Teelco Tisco Fifty Feefty Feefteen Ramesh Rameesh Rajesh ( B ) Erasure, overwriting, alteration or crossing out in one or two characters in folio numbers. Good ( C ) Erasure, overwriting, alteration, or crossing out in one or two characters of Distinctive Number . Good if Certificate number does not contain any erasure, overwriting, alteration, or crossing out. ( D ) Erasure, overwriting, alteration, or crossing out in one or two characters of Certificate Number . Good if distinctive number does not contain any erasure, overwriting, alteration or crossing out. ( E ) Erasure, overwriting, alteration, or crossing out in Number of Shares in figures. Good if number in words does not contain any erasure, overwriting, alteration or crossing out. ( F ) Erasure, overwriting, alteration, or crossing out in one or two characters in Number of Shares in words. Good if number of shares in figures does not contain any erasure, overwriting, alteration or crossing out. ( G ) List of certificate numbers and distinctive numbers and distinctive numbers attached to transfer deed signed by all the transferors. Good 4. If the name of the transferor(s) in the share certificate and the name in the transfer deed(s) differs materially. Bad Differences of the following type ( vice versa ) ( A ) Addition or Deletion of 1 or 2 alphabets Good ( B ) Krishna Chandra Chelura - C.C. Krishna Bad ( C ) Ashok Gupta - Gupta Ashok Good ( D ) Corporation - Corpn./Corn. Good 17. Transfer deeds signed under Power of Attorney where the power given is subject to conditions. Bad u Transfer deed signed by Director of the Company and under Board Resolution not mentioned on the front or the reverse of the transfer deed. Good (Stamp of introducing members is not required to be affixed on the reverse of the transfer deed) u Transfer deed signed by an authorised signatory under Power of Attorney. Good only if P/A regn. No., date, signature and stamp of the introducing Member is mentioned on the reverse of the Transfer Deed. u Transfer deed signed by an authorised signatory under Power of Attorney. Good only if P/A regn. No., date, signature and stamp of the introducing Member is mentioned on the reverse of the Transfer Deed. u Transfer deed signed by an authorised signatory of a custodian and the P/A registration No. is mentioned on face or the reverse of the transfer deed. Good (Stamp of introducing member is not required to be affixed on the reverse of the transfer deed) u Where the transfer deeds are signed by an authorised signatory under a Board Resolution and the stamp under Board Resolution is mentioned on the face or the reverse of the transfer deed. Good (Stamp of introducing member is not required to be affixed on the reverse of the transfer deed). 18. Transfer deed signed by a custodian on behalf of a client u In the signature column the custodian does not put the stamp as Constituted Attorney on behalf of the transferor. Bad u Transfer deed signed by a Custodian on behalf of the client and in the signature column it puts the stamp By Constituted Attorney to the transferor with the P/A number given on the face or reverse of the TD with the stamp and signature of the custodian. Goo (Stamp of introducing member is not required to be affixed on the reverse of the transfer deed). 19. Shares sold by FIIs and transfer deed signed by a Custodian on behalf of the FII. (Copy of RBI approval is not required to be attached). Good B. Share Certificates No. Description Good/Bad 64 The last date for payment of call has expired and the call has not been paid or if the call has been paid, the necessary call receipt has not been attached. Ba The call payment receipt with the stamp of the bank before or on the due date if attached to the securities is good delivery for three months from the last date of call payment or next book closure announced by the company whichever is later. Go All call payment receipts after due date must be endorsed as cheque/draft realised by the Bank/Co./Registrars. Goo Where the closure of the register of members fall within the period of 3 months from the due date for payment of call money, call money receipt valid until the closer of Register of Members occurring after the first such closure. Good C. Miscellaneous 97 Validity period of Company Objection by the last buying broker to be notified to the Exchange/Introducing Broker is 36 months from the date the shares were first introduced in the market. In all other pending cases of company objections bearing a date prior to July 16, 1996, the validity period will be as per the rules - of the respective Exchanges - as existing prior to July 16, 1996. 102 While rectifying objections due to signature differences, a fresh signature by the transferor along with attestations is mandatory if the same transfer deed or a fresh transfer deed is submitted. If the objection is rectified after the book closure date fresh transfer deed along with attestation is mandatory. 110 Attestation is required where signature of transferor is in an Indian language other than the scheduled languages in India or when the transferor has affixed his thumb impression (guideline No. 7). In other cases, attestation is compulsory only when shares come under objection due to signature difference. Hence guideline Nos. 28, 29, 30, 31 32 apply only to transfer deeds which come under objection due to signature difference.