Common and Simplified Norms For Processing Investor’s Service Request RTAs And Norms For Furnishing PAN, KYC Details And Nomination

REQUEST TO PHYSICAL SHAREHOLDERS

Dear Shareholder,

As a part of its ongoing measures to protect the interest of the investors in the Securities Market, Securities and Exchange Board of India (SEBI), vide its Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 specified the common and simplified norms for processing any service request of shareholders by Registrar & Share Transfer Agents (RTAs) and providing electronic interface by RTAs for processing investor’s queries, complaints and service requests.

SEBI has also given certain clarifications in this regard vide SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37 dated March 16, 2023

It has been made mandatory for all holders of physical shares to furnish / update the PAN, Nomination, Contact details, Bank account details and specimen signature with the Bank’s RTA. Please note that -

Please note that -

  • W.e.f. 01.01.2022, any service request will be entertained by the Bank’s RTA only upon registration / updation of PAN, KYC and Nomination details.
  • The folios in which PAN / KYC/ Nomination details are not available / updated will be frozen by the Bank’s RTA w.e.f. October 01, 2023.
  • Also note that the folios in which PAN is not linked to Aadhaar as on 31.03.2023 or any other date as may be specified by the Central Board of Direct Taxes will also be frozen by the Bank’s RTA.
  • after December 31, 2025, the frozen folios shall be referred by RTA / Bank to the administering authority under the Benami Transactions (Prohibitions) Act, 1988 and / or Prevention of Money Laundering Act, 2002
  • Shareholders holding shares in physical form are requested to furnish / update their PAN / KYC/ Nomination details, if not done earlier, with Bank’s RTA by using the relevant forms as appended below:

    Sl No

    Particulars

    Form – web link

    1.

    Request for registering PAN, KYC Details or changes / updation there of

    ISR-1

    2

    Confirmation of Signature of shareholder by the Banker (in case of major mismatch in the signature of the shareholder)

    ISR-2

    3

    Nomination Form

    SH-13

    4

    Cancellation or Variation of Nomination

    SH-14

    5

    Declaration form for opting-out / cancellation of Nomination *

    SH-14

    *Please use Form SH-14 and Form ISR-3 for cancellation of the existing nomination.

In case of any query, kindly contact our RTA at the details provided below:

KFin Technologies Limited
Unit ; Canara Bank
Selenium Tower B, Plot 31 & 32
Financial District,
Nanakramguda
Hyderabad – 500032
Toll free: 1800 309 4001
Email: einward.ris@kfintech.com
Website: www.kfintech.com

Important Information On Transmission Of Securities

Dear Shareholder,

As a part of its ongoing measures to enhance ease of dealing in securities markets and with a view to make process of Transmission of Shares more efficient and friendly, Securities and Exchange Board of India (SEBI), vide its Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/65 dated May 18, 2022 specified the simplified procedure and standardized formats of documents for transmission of securities by Registrar & Share Transfer Agents (RTAs).

  • The revised documentation requirements in case of transmission of securities are specified below :
    • Where the securities are held in a single name with a nomination, nominee shall be informed about the procedure to be followed for the claim on the receipt of the intimation of death of the security holder.
  • where the securities are held in single name with a nomination, the following documents shall be submitted:
    • duly signed transmission request form by the nominee;
    • original death certificate or copy of death certificate attested by the nominee subject to verification with the original or copy of death certificate duly attested by a notary public or by a gazetted officer;
    • self-attested copy of the Permanent Account Number card of the nominee, issued by the Income Tax Department.
  • where the securities are held in single name without nomination, the following documents shall be submitted:
    • duly signed transmission request form by the legal heir(s)/claimant(s);
    • original death certificate or copy of death certificate attested by the legal heir(s)/claimant(s) subject to verification with the original or copy of death certificate duly attested by a notary public or by a gazetted officer;
    • self-attested copy of the Permanent Account Number card of the legal heir(s)/claimant(s), issued by the Income Tax Department;
    • a notarized affidavit, in the format provided in Annexure-D from all legal heir(s) made on non-judicial stamp paper of appropriate value, to the effect of identification and claim of legal ownership to the securities. However, in case the legal heir(s)/claimant(s) are named in any of the documents for transmission of securities as mentioned in serial number 2 in Annexure-A , an affidavit from such legal heir(s)/claimant(s) alone shall be sufficient
    • a copy of other requisite documents for transmission of securities as may be applicable as per Annexure-A, attested by the legal heir(s)/claimant(s) subject to verification with the original or duly attested by a notary public or by a gazetted officer:
  • In cases where a copy of Will is submitted as may be applicable in terms of Indian Succession Act,1925 (39 of 1925) the same shall be accompanied with a notarized indemnity bond from the claimant (appropriate beneficiary of the Will) to whom the securities are transmitted, in the format provided in Annexure-E.
  • In cases where a copy of Legal Heirship Certificate or its equivalent certificate issued by a competent Government Authority is submitted, the same shall be accompanied with:
    • a notarized indemnity bond from the legal heir(s) /claimant(s) to whom the securities are transmitted, in the format provided in Annexure-E.
    • No Objection from all non-claimants (remaining legal heirs), stating that they have relinquished their rights to the claim for transmission of securities, duly attested by a notary public or by a gazetted officer, in the format provided in Annexure-F to this Circular.
  • For value of securities up to rupees five lakhs per listed entity in case of securities held in physical mode, and up to rupees fifteen lakhs per beneficial owner in case of securities held in dematerialized mode, as on date of application by the claimant, and where the documents mentioned in serial number 3 in Annexure-A, are not available, the legal heir(s) /claimant(s) may submit the following documents:
    • a notarized indemnity bond made on non-judicial stamp paper of appropriate value in the format provided in Annexure-E, indemnifying the Share Transfer Agent/ listed entity:
    • no objection certificate from all legal heir(s) stating that they do not object to such transmission in the format provided in Annexure-For copy of family settlement deed executed by all the legal heirs, duly attested by a notary public or by a gazetted officer; and The listed entity may, at its discretion, enhance the value of securities from the threshold limit of rupees five lakhs, in case of securities held in physical mode
  • For transmission of securities to the surviving joint holder(s), RTAs shall comply with clause 23 of Table F in Schedule 1 read with Section 56(2) & 56(4)(c) of the Companies Act, 2013, and transmit securities in favour of surviving Joint holder(s), in the event of demise of one or more joint holder(s), provided that there is nothing contrary in the Articles of Association of the company as may be applicable to the Bank.
  • In case the securities were held by the deceased holder in a single name and in physical mode, then after verifying and processing the documents submitted for transmission of securities, the RTAs/ Issuer companies shall intimate the claimant(s) about its execution as may be applicable, within 30 days of the receipt of such request, by way of issuing a Letter of Confirmation in the format provided in Annexure-G.

    • List of Annexures:

    Sl No

    Particulars

    Form – web link

    1.

    Ready Reckoner: Documents Required for Transmission of Securities

    Annexure-A

    2

    Operational guidelines for processing investor’s service request for the purpose of Transmission of securities

    Annexure-B

    3

    Format of the form to be filed by nominee / claimant(s) / legal heir(s) while requesting transmission of securities

    Annexure-C

    4

    Format of affidavit to be given by all Legal Heirs or Legal Heirs named in Succession Certificate/ Probate of Will/ Will/ Letter of Administration/ Legal Heirship Certificate/Court Decree

    Annexure-D

    5

    Format of Bond of Indemnity to be furnished jointly by all Legal Heir(s) including the Claimant(s)

    Annexure-E

    6

    Format of NOC from other Legal Heir(s) for transmission of securities in favour of the Claimant(s)/legal heir(a)

    Annexure-F

    7

    Format of the Letter of Confirmation to be issued by RTAs/ Issuer Companies

    Annexure-G

    Important Information On Issuance Of Duplicate Share Certificates

    Dear Shareholder,

    Securities and Exchange Board of India (SEBI), vide its Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/70 dated May 25, 2022 specified the simplified procedure and standardized formats of documents for issuance of duplicate share certificates.

    With a view to make issuance of duplicate securities more efficient and investor friendly, the procedure and documentation requirements for issuance of duplicate securities has been further simplified. The requirements are as specified below:

    • Submission by the security holder of copy of FIR including e-FIR/Police complaint/Court injunction order/copy of plaint (where the suit filed has been accepted by the Court and Suit No. has been given), necessarily having details of the securities, folio number, distinctive number range and certificate numbers.
    • Issuance of advertisement regarding loss of securities in a widely circulated newspaper
    • Submission of Affidavit and Indemnity bond as per the format prescribed by the Board.
    • There shall be no requirement of submission of surety for issuance of duplicate securities
    • There shall be no requirement to comply with Para 1 and 2 of this letter, if the value of securities as on the date of submission of application, along with complete documentation as prescribed by the Board does not exceed Rs.5 Lakhs.
    • The applicant shall quantify the value of the securities on the basis of the closing price of such securities at any one of the recognized stock exchanges a day prior to the date of such submission in the application
    • An overseas securities holder, in lieu of documents mentioned in Para 2.1 of this circular, shall be permitted to provide self-declaration of the security certificates lost/misplaced/stolen which shall be duly notarized/ apostilled /attested by the Indian Consulate / Embassy in their country of residence, along with self-attested copies of valid passport and overseas address proof.
    • In case of non-availability of Certificate Nos./Distinctive Nos./ Folio nos., the RTA (upon written request by the security holder) shall provide the same, to the security holder only where the signature and the address of the security holder matches with the RTA / listed company’s records. In case the signature and/or the address do not match, the security holder shall first comply with the KYC procedure and then only the details of the securities shall be provided to the security holder by the RTA/listed company.

    Following documents required to be submitted by security holder while requesting for issuance of duplicate securities :

    Sl No

    Particulars

    Form – web link

    1.

    Affidavit for issuance of duplicate securities

    Form-A

    2

    Indemnity for issuance of duplicate securities

    Form-B

    3

    Format of Letter of Confirmation

    Form-C

    4

    Investor Service Request Form – 4

    ISR-4

    In case of any query, kindly contact our RTA at the details provided below:

    KFin Technologies Limited
    Unit; Canara Bank
    Selenium Tower B, Plot 31 & 32
    Financial District,
    Nanakramguda
    Hyderabad – 500032
    Email: einward.ris@kfintech.com
    Toll free: 1800 309 4001
    Website: www.kfintech.com

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