Updation of KYC and Nomination Process
SEBI has, vide Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2023/70 dated 17th May 2023, issued in supersession of earlier circulars read with has mandated furnishing of the following by holders of physical securities:
| a. | PAN, nomination / declaration to opt-out of nomination, contact details (i.e. present postal address with PIN code, email address, mobile number), bank account details and specimen signature for their corresponding folio numbers by holders of physical securities; |
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| b. | any service request and complaint shall be entertained only upon registration of the PAN, KYC and nomination documents / details as stated above; |
| c. | ensure that the PAN is linked to Aadhaar by March 31, 2023 or any other date as may be specified by the Central Board of Direct Taxes to avoid freezing of folio. CBDT extended the date till June 30, 2023. |
Dealing in Folios without PAN, KYC details and Nomination:
| a. | Folios wherein any one of the aforesaid documents / details are not available on or after January 1, 2024 the respective member(s) shall not be eligible to lodge grievance or avail service request from the RTA till the said documents / details are submitted. Further effective April 01, 2024, member will not be eligible for receiving any payment including dividend in respect of such folios in physical mode. |
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| b. | ensure that the PAN is linked to Aadhaar by March 31, 2023 or any other date as may be specified by the Central Board of Direct Taxes to avoid freezing of folio. CBDT extended the date till June 30, 2023. |
| c. | SEBI vide its Circular SEBI/HO/MIRSD/POD-1/P/CIE/2023/181 dated 17th November, 2023 has done away with the requirement of freezing of Folio and the referral of folios by the RTA/Company to the administering authority under the Benami Transactions (Prohibitions) Act, 1988 and / or Prevention of Money Laundering Act, 2002. |
| d. | Extension of timelines for providing ‘choice of nomination’ in eligible demat accounts and mutual fund folios. SEBI/HO/MIRSD/POD-1/P/CIR/2023/193 |
Issuance of Securities in dematerialized form in case of Investor Service Requests
SEBI has, vide Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2023/70 dated 17th May 2023, read with SEBI Notification dated 24th January, 2022 , issued in supersession of earlier circulars, mandated that, while processing service requests in relation to Service Request mentioned below against Form ISR-4 and Form ISR-5, the Company shall issue securities only in dematerialised form.
Details of various forms prescribed by SEBI is given below:
| Sr. No. | Form No. | Description of the Form | Link to download the Form |
|---|---|---|---|
| 1. | ISR-1 | Request for Registering/updation of the following details:
- PAN |
Form ISR-1 |
| 2. | ISR-2 | Confirmation of Signature of securities holder by the Banker* | Form ISR-2 |
| 3. | ISR-3 | Declaration Form for Opting-out of Nomination | Form ISR-3 |
| 4. | SH-13 | Nomination Form (Members are requested to avail the nomination facility) |
Form SH-13 |
| 5. | SH-14 | Cancellation or Variation of Nomination | Form SH-14 |
| 6. | ISR-4 | Request for issue of Securities in dematerialized form in case of below: i. Issue of duplicate securities certificate ii. Claim from Unclaimed Suspense Account & Suspense Escrow Demat Account iii. Renewal / Exchange of securities certificate iv. Endorsement v. Sub-division / Splitting of securities certificate vi. Consolidation of securities certificates/folios vii. Transposition viii. Change in the name of the holder |
Form ISR-4 |
| 7. | ISR-5 | Request for Transmission of Securities by Nominee or Legal Heir | Form ISR-5 |
| 8. | Annexure D | Individual Affidavits to be given by ALL the Legal Heirs OR Legal Heirs named in Succession Certificate*/ Probate of Will*/ Will*/ Letter of Administration*/ Legal Heirship Certificate | Annexure D |
| 9. | Annexure E | Bond of Indemnity to be furnished jointly by all Legal Heir(s) including the Claimant(s) (To be submitted on Non-judicial Stamp Paper of appropriate value) [For Transmission of Securities on death of Sole Securities’ Holder, where no nomination has been registered] |
Annexure E |
| 10. | Annexure F | No-Objection Certificate from the Legal Heir(s) - Format of NOC from other Legal Heir(s) for Transmission of Securities in favour of the Claimant(s) wherein the Sole Holder is deceased and NO NOMINATION has been registered [To be submitted in non-judicial stamp paper of appropriate value] |
Annexure F |
| 11. | Form A | Affidavit - For issuance of duplicate securities | Form A |
| 12. | Form B | Indemnity - For issuance of duplicate securities | Form B |
*Specimen Signature – Registering present specimen signature against folio is also mandatory. In case of major mismatch in the signature of the members(s) as available in the folio with the RTA and the present signature or if the signature is not available with the RTA, then the member(s) shall be required to furnish Banker’s attestation of the signature as per Form ISR-2 along-with the documents specified therein. Hence, it is advisable that the members send the Form ISR-2 along-with the Form ISR-1 for updating of the KYC Details or Nomination, except in cases where the shareholder is visiting the Office of the RTA in person for the same.
Mode of submission of form(s) and documents
Physical or Hard copy
Member (s) can forward the hard copies of duly filled-in and signed form(s) along with self-attested copies of relevant documentary proofs as mentioned in the respective forms, to the following address:
KFin Technologies Limited, Unit: Mahindra CIE Automotive Limited Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad – 500 032Through ‘In Person Verification’ (IPV)
The original documents can be submitted by the member (s) in person at RTA’s office which shall be verified by the authorised person of the RTA and retaining copy(ies) with IPV stamping with date and initials.
Through Electronic Mode with e-sign
In case you have registered your email address, you may send the scan soft copies of the form(s) along with the relevant documents, duly e-signed, from your registered email id to einward.ris@kfintech.com or upload KYC documents with e-sign on RTA’s website at the link: https://ris.kfintech.com/clientservices/diy/
Mandatory Self-attestation of the documents submitted in any mode
Please note that, each page of the documents that are submitted in hard copy must be self-attested by the holder. In case the documents are submitted in electronic mode then the same should be furnished with e-sign of scan copies of the documents.
E-sign
E-Sign is an integrated service which facilitates issuing a Digital Signature Certificate and performing signing of requested data by eSign user. The holder/claimant may approach any of the empanelled eSign Service Provider, details of which are available on the website of Controller of Certifying Authorities (CCA), Ministry of Communications and Information Technology ( https://cca.gov.in/ ) for the purpose of obtaining an e-sign.
Information for shareholders holding Securities in Demat Form
Nomination in demat and trading accounts
SEBI has, vide Circular No. SEBI/HO/MIRSD/RTAMB/CIR/P/2021/601 dated July 23, 2021 read with SEBI Circular SEBI/HO/MIRSD/POD-1/P/CIR/2023/158 dated September 26, 2023, stipulates that demat account which do not have choice of nomination by December 31, 2023 shall be frozen.
Further, the ‘Choice of Nomination’ for trading Accounts may be submitted on voluntary basis.
Online Dispute Resolution Portal
SEBI vide its circular SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023 has introduced Online Resolution of Disputes in the Indian Securities Market by establishing a common Online Dispute Resolution Portal (“ODR Portal”).
Investors (or holders on account of nominations or transmission being given effect to) may refer any unresolved issue of any service requests / service related complaints for due resolution by harnessing online conciliation and/or online arbitration as specified in this circular.
SEBI Circular SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023