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TMI BlogClarifications with respect to Circular dated November 03, 2021, on ‘Common and simplified norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and Nomination’X X X X Extracts X X X X X X X X Extracts X X X X ..... investor s service request by RTAs and norms for furnishing PAN, KYC details and Nomination 1. SEBI, vide Circular no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021, has laid down the common and simplified norms for processing investor s service request by RTAs and norms for furnishing PAN, KYC details and Nomination. 2. Based on the representations received from the Registrars Association of India (RAIN), it has been decided to provide clarity on certain provisions and on the applicability of the aforementioned circular. The said clarifications are given in Annexure to this circular. 3. All other provisions mentioned in the circular SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 shall re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ilable the soft copy of Form SH13/ISR3 on its website. The form should be in a downloadable and fillable format. 2. With regard to Para 2 of the Circular, it is clarified that in case of: (i) Minor mismatch in signature (Para 2.1) a. The timeline to process the service request shall commence after the notice period of 15 days. b. If the letter sent by the RTA returns undelivered, RTA shall advise the investor to obtain the signature verification by the Banker so as to process the request. c. In case of an objection, the RTA, after removing the objection, shall advise the Investor to furnish signature verification by the Banker along with any of the documents as detailed in Para 2.3 a) of the Circular. (ii) Major misma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent Authority. (v) Self-attestation to replace Affidavits, Attestation / Notarization (Para 2.6) Paragraph 2.6 of the Circular is amended as under: For all service requests, except transmission, copies of documents that are summited in hard copy shall be processed by the RTA if the same is self-attested by the holder(s). RTA shall not insist on affidavits or attestation / notarization of documents. (vi) KYC details across all folios of the holder, maintained by the RTA (Para 2.9) In this regard, it is clarified as under: (a) RTA shall update the folio(s) of the holder with the information on 1) present address, 2) bank details, 3) E-mail id and 4) mobile number from the details available in the Client Master List ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... January 1, 2022, the RTAs shall not process any service requests or complaints received from the holder(s) / claimant(s), till PAN, KYC and Nomination documents/details are received. 4. Para 5.2 b) of the Circular is amended as under: eligible for any payment including dividend, interest or redemption payment only through electronic mode. Listed Company shall ensure that intimation is sent to the holder that aforesaid such payment is due and shall be made electronically upon complying with the requirements in paragraph 4 of the Circular. 5. Para 9 of the Circular is amended as under: RTAs shall provide a certificate of compliance from a practicing Company Secretary, within 90 days from the date of Circular coming into effe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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