Standardised norms for transfer of securities in physical mode

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..... ysical mode. 2. It has been brought to the notice of SEBI that RTAs are seeking various documents for effecting transfer of securities and the documents sought vary across RTAs. SEBI has also received representations, highlighting difficulties faced by transferees in providing these documents. In this regard, SEBI had meetings with Registrars Association of India (RAIN) and Depositories in this regard and pursuant to such meetings, RAIN has submitted a standardised procedure for transfer of securities in physical mode. The proposal of RAIN has been examined and accordingly, the documentation / procedure for transfer of physical securities is modified as under: a. Non-availability of PAN of the transferor for transfer deeds executed .....

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..... tion shall be followed for registration of transfer of securities, in such cases: i. RTA/ company shall follow the procedure as laid down in Para (B)(2) of Schedule VII of LODR for major difference or non-availability of signature of the transferor(s). ii. Issuers / RTAs shall make efforts to contact the transferor : 1. by checking the Dividend history and obtaining the current contact details from the bank where dividend was encashed. 2. from the address, email ids and phone numbers, if any, available with the Depositories/KRA iii. In case of non- delivery of the objection memo to the transferor or non-cooperation by / inability of the transferor to provide the required details to the transferee, company / RTA shall register .....

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..... d no. of securities transferred under this procedure shall be disclosed on the company s website for a period of 6 months from the date of transfer. This information shall also be displayed on stock exchange website as a corporate announcement; d. In case of non-availability of any document required for transfer and the transferor is not cooperating or not traceable, companies/ RTA shall register the transfer by following the procedure as specified in case of major mismatch / non-availability of transferor s signature, as specified in Para 2(c) above. e. Clause (B)(2)(d) of Schedule VII of LODR , inter-alia, require that the transfer shall be registered if, the address of the transferor submitted in the bank attestation matches with t .....

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