Strengthening the Guidelines and Raising Industry standards for RTAs, Issuer Companies and Banker to an Issue - Clarification

N O T I C E

                                                                                                               Dated : 26th July, 2018

 

Trading Members are hereby informed that the Exchange has received a Circular from SEBI Vide Ref. No. SEBI/HO/MIRSD/DOS3/CIR/P/2018/115, Dated July 16, 2018 regarding Strengthening the Guidelines and Raising Industry standards for RTAs, Issuer Companies and Banker to an Issue - Clarification. The contents of the said circular are reproduced hereunder for information of trading members.

 

Quote : -                                                                                                       

                                                                           CIRCULAR

 

SEBI/HO/MIRSD/DOS3/CIR/P/2018/115                                                          July 16, 2018

 

To,

All Registrars to an Issue and Share Transfer Agents registered with SEBI

All Listed entities (Through Stock Exchanges)

All Recognised Stock Exchanges

 

Dear Sir / Madam,

 

Subject: Strengthening the Guidelines and Raising Industry standards for RTAs, Issuer Companies and Banker to an Issue - Clarification

 

1. SEBI, vide circular No. SEBI/HO/MIRSD/DOP1/CIR/P/2018/73 dated April 20, 2018, inter-alia, mandated RTAs to send a letter under Registered / Speed post seeking PAN and bank details within 90 days of the said circular and two reminders thereof after the gap of 30 days.

2. In this regard SEBI has received several representations to extend the timelines of first letter so as to bunch it up with annual reports/notices of AGM. Further, clarifications have been sought to send the reminders by way of modes other than Registered / Speed post, citing huge cost involved and the efficacy of sending reminders by way of other modes; especially in cases where first letter sent by Registered / Speed Post returned undelivered.

3. Accordingly, in respect of para II (12)(ii) of Annexure to the aforementioned circular, it is clarified that:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  1. The timeline for sending the initial letter by Registered / Speed Post to physical shareholders has been extended to September 30, 2018 to enable companies to send the initial letter along with Annual Reports/notice of AGM.
  2. Subsequently, two reminders may be sent by other modes including ordinary post /  

      courier.

 

 

Yours faithfully,

Surabhi Gupta

Deputy General Manager

Tel. No: 022-26449315

Email id: surabhig@sebi.gov.in

 

 

Unquote: -

 

Trading Members are requested to take note of the aforesaid guidelines of SEBI and act accordingly. 

 

 

 

Dhiraj Chakraboty

Deputy General Manager