Guidelines for registrars to an issue/share transfer agents for handling and processing of transfer documents/bad delivery documents/stock invests etc. - SEBI - RTI CIRCULAR NO. 1 (2000-2001)

Circulars SECURITIES AND EXCHANGE BOARD OF INDIA PRIMARY MARKET DEPARTMENT MITTAL COURT, A WING GROUND FLOOR MUMBAI. RTI CIRCULAR NO. 1 (2000-2001) DATED MAY 09, 2001 TO: ALL REGISTERED REGISTRARS TO AN ISSUE/ SHARE TRANSFER AGENTS Dear Sirs, All companies listed on stock exchanges are required to do the processing of share transfers and effect transfers in accordance with the provisions of the Companies Act, 1956, listing agreement and the guidelines issued by SEBI. It has been observed that there are no uniform procedures or practices adopted by companies and their Registrars to Issue/Share Transfer Agents for handling and processing of transfer documents/bad delivery documents/stock invests etc. resulting in avoidable confusion and inconvenience to the investors. The Stock Exchange, Mumbai and National Stock Exchange had set up task forces to evolve uniform norms in these areas. The task forces submitted their recommendations to SEBI. SEBI thereafter convened meetings of representatives of Registrar Association of India, Stock Exchanges, Clearing Corporation, Depositories and Custodians to finalise these norms. After detailed deliberations uniform guidelines to be followed by RTI/STA Companies have been agreed upon by the various market intermediaries. These guidelines have been divided into three parts: (i) General norms for processing of documents. (ii) Norms for processing of transfers. (iii) Norms for objection. Draft of the formats to be used have also been suggested in these guidelines. It is hereby directed that all registered Registrar to An Issue and Share Transfer Agents and Companies listed on Stock Exchanges shall mandatorialy follow these guidelines and formats with immediate effect. These directions are issued pursuant to powers conferred on SEBI under Section 11B of SEBI Act, 1992. P.R. RAMESH DIVISION CHIEF