PAN, KYC & Nomination (Mandatory).

Based on SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 including amendments thereof.

Mandatory furnishing of PAN, KYC details and Nomination by holders of physical securities

It shall be mandatory for all holders of physical securities in listed company to furnish the following documents / details to the RTA:

(a)PAN

(b)Nomination (for all eligible folios)

Details of nomination details shall be furnished hard copy or through electronic mode with e-signature, separately for each company, as follows;

(i)Either Nomination through Form SH-13 as provided in the Rules 19 (1) of Companies (Shares capital and debenture) Rules, 2014 or

‘Declaration to Opt-out’, as per Form ISR-3

(ii) In case of cancellation of nomination by the holder(s)through Form SH-14, then ‘Declaration to Opt-out’ shall be provided by the holder(s)

(iii) Securities holder(s)can change their nominee through Form SH-14

(c) Contact details: Postal address with PIN, Mobile number, E-mail address.

(d) Bank account details: bank name and branch, bank account number, IFS code.

(e) Specimen signature.

PAN and Aadhaar (Mandatory).

Based on SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 including amendments thereof.

Compulsory linking of PAN and Aadhaar by all holders of physical securities in listed companies

From March 31, 2022 or any other date as may be specified by the CBDT, RTAs shall

(a) accept only valid PANs and

(b) also verify that the PAN in the existing folios are valid; i.e. whether it is linked to the Aadhaar number of the holder.

The folios in which PANs is / are not valid as on the notified cut-off date of March, 31, 2022 or any other date as may be specified by the CBDT, shall also be frozen.

PAN (Mandatory).

Based on SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 including amendments thereof.

• PAN is mandatory for all transactions in securities market as per circular dated April 27, 2007 and it is also one of the document for proof of identity. Accordingly, it is reiterated that it is mandatory for all holders and claimants of physical securities to furnish PAN and it is mandatory for RTAs to verify PAN details through the facility as may be provided by the Income Tax Department (ITD). In this regard, SEBI registered RTAs have been authorized as an eligible entity by the ITD to verify PANs through its ‘Online PAN Bulk Verification’ (PBV) facility.

• Additionally, the ‘Exemptions/clarifications to PAN’, as provided in clause D to ‘Instructions/Check List for Filing KYC Forms’ in Annexure – 1 to SEBI circular No. MIRSD/SE/Cir-21/2011 dated October 05, 2011 on Uniform Know Your Client (KYC) Requirements for the Securities Market, shall also applicable for holder(s) / claimant(s) of securities held in physical mode.

Shareholder Requests.

Based on SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 including amendments thereof.

Electronic interface for processing queries, complaints and service request

In addition to responding to queries, complaints and service request through hard copies, the RTA shall also process the same received through e-mails, provided that it is received from the e-mail address of the holder which is already registered with the RTA.

Important: Additionally, in the case of service requests, the documents furnished shall have e-sign of the holder(s) / claimant(s). For e-Sign, refer the CCA website

Attestation on Documents.

Based on SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 including amendments thereof.

For all service requests, except transmission, copies of documents that are summited in hard copy shall be processed by the Accurate if the same is self-attested by the holder(s).

It is clarified that Accurate shall not insist on affidavits or attestation / notarization of documents.

Mismatch in Name.

Based on SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 including amendments thereof.

Minor Mismatch in Name

Any two of the following self-certified document from the holder / claimant is required for minor mismatch in name according to Accurate Database. Both the document shall explain the difference between the Name mismatch:

• Unique Identification Number (UID) (Aadhaar);
• Valid Passport;
• Driving license;
• PAN card with photograph;

• Identity card / document with applicant’s Photo, issued by any of the following:

  • Central / State Government and its Departments;
  • Statutory / Regulatory Authorities;
  • Public Sector Undertakings;
  • Scheduled Commercial Banks;
  • Public Financial Institutions.
• Marriage certificate;
• Divorce decree.

The existing norms of the Depositories, to process demat request where there is a minor mis-match on account of initials not being spelt out fully, or put after or prior to surname, provided the signature in the Demat Request Form (DRF) matches with the signature card available with Accurate, shall continue to be in force.

SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/687 dated December 14, 2021.

• Driving license in Smart Card form, Book form or copy of digital form shall be accepted.

Mismatch in Signature.

Based on SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 including amendments thereof.

Minor mismatch in signature

• In case of minor mismatch in the signature of the securities holder as available in the folio of the Accurate and the present signature, Accurate while processing the service request, shall intimate the holder by Speed post about the minor mis-match in signature, providing timeline of 15 days for raising objection, if any. In the absence of any objection, the service request shall be processed.
• If the letter returns undelivered or if there is an objection, as aforesaid, Accurate shall obtain signature verification by the banker before proceeding the service request.

SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/687 dated December 14, 2021.

• The timeline to process the service request shall commence after the notice period of 15 days.
• If the letter sent by the Accurate returns undelivered, Accurate shall advise the investor to obtain the signature verification by the Banker so as to process the request.
• In case of an objection, Accurate, 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 of the Circular.

Major mismatch in signature or Signature Card is not available

• In case of major mismatch in the signature of the holder as available in the folio of Accurate and the present signature or if the same is not available with Accurate, then the holder / claimant shall furnish original cancelled cheque and banker’s attestation of the signature as per Form ISR-2.

SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/687 dated December 14, 2021.

• The holder / claimant shall furnish original cancelled cheque with name of the security holder printed on it or Bank Passbook or Bank Statement attested by the Bank, and Banker’s attestation of the signature as per Form ISR-2.

FAQs.

Based on SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 including amendments thereof.

Self-attestation to replace Affidavits, Attestation / Notarization

For all service request, except transmission, copies of documents that are summited in hard copy shall be processed by the RTA only if the same is self-attested by the holder(s), with date. It is clarified that the RTA shall not insist on affidavits or attestation / notarization of documents.

Indemnity

RTA shall not insist on indemnity for any service request, unless the same is specially provided in the Companies Act, 2013 or the Rules issued thereunder or in SEBI Regulations or circulars issued thereunder.

Mode for providing documents / details by investors

RTA shall not insist on indemnity for any service request, unless the same is specially provided in the Companies Act, 2013 or the Rules issued thereunder or in SEBI Regulations or circulars issued thereunder.

(a) through ‘In Person Verification’ (IPV): the authorized person of the RTA shall verify the original documents furnished by the investor and retain copy(ies) with IPV stamping with date and initials;

(b) through hard copies which are self-attested and dated

(c) through electronic mode with e-sign, as elaborated subsequently.