CIRCULAR
SEBI/HO/MIRSD/POD-1/P/CIR/2023/181 November 17, 2023
To
All registered Registrars to an Issue and Share Transfer Agents (RTAs)
All Listed Companies through Recognized Stock Exchanges
Recognized Stock Exchanges
All Recognized Depositories
Depository Participants through Depositories
Dear Sir / Madam,
Simplified norms for processing investor’s service requests by RTAs and
norms for furnishing PAN, KYC details and Nomination
1. SEBI, vide circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37 dated
March 16, 2023 (now rescinded due to issuance of Master Circular for Registrars
to an Issue and Share Transfer Agents dated May 17, 2023) had simplified norms
for processing investor’s service request by RTAs and for furnishing PAN, KYC
details and Nomination.
2. Based on representations received from the Registrars’ Association of India,
feedback from investors, and to mitigate unintended challenges on account of
freezing of folios and referring frozen folios to the administering authority under
the Benami Transactions (Prohibitions) Act, 1988 and/or Prevention of Money
Laundering Act, 2002, it has been decided to do away with the above provisions.
Accordingly, para 19.2 of the Master Circular for Registrars to an Issue and Share
Transfer Agents dated May 17, 2023 has been amended as follows:
2.1. Reference to the term ‘freezing/ frozen’ has been deleted.
2.2. Referral of folios by the RTA/listed company to the administering authority
under the Benami Transactions (Prohibitions) Act, 1988 and/or Prevention of
Money Laundering Act, 2002, has been done away with.
3. Stock Exchanges, Depositories, RTAs and listed companies are advised to:
3.1. comply with the conditions laid down in this circular;
3.2. make necessary amendments to the relevant bye-laws, rules and
regulations, operational instructions, as the case may be, for the
implementation of the above circular; and
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3.3. bring the provisions of this circular to the notice of their constituents and also
disseminate the same on the website.
3.4. communicate and create awareness amongst stakeholders.
4. This circular shall come into force with immediate effect.
5. This circular is issued in exercise of powers conferred by Section 11(1) of the
Securities and Exchange Board of India Act, 1992 to protect the interests of
investors in securities and to promote the development of, and to regulate the
securities market.
6. This circular is available on SEBI website at www.sebi.gov.in under the
categories “Legal Framework -> Circulars”.
Yours faithfully,
Aradhana Verma
General Manager
Market Intermediaries Regulation and Supervision Department
Tel. No. 022-2644 9633
Email id - aradhanad@sebi.gov.in
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