January 31, 2013


Trading members are hereby informed that the Exchange has received a Circular from SEBI vide Ref. No. CIR/MIRSD/01/2013, dated January 04, 2013 regarding Rationalisation process for obtaining PAN by Investors. The contents of the said Circular are reproduced hereunder for information of trading members.


Quote: -


CIR/MIRSD/01 /2013                                                                                    January 04, 2013

1. All Recognized Stock Exchanges

2. Stock Brokers through Recognized Stock Exchanges

3. Depository Participants through Depositories

4. Mutual funds

5. Association of Mutual Funds in India

6. Portfolio Managers

7. KYC Registration Agencies (KRAs)

8. Alternative Investment Funds (AIFs)

9. Collective Investment Schemes (CIS)


Dear Sir,


Sub: Rationalisation process for obtaining PAN by Investors


1. Please refer to SEBI circular no CIR/MIRSD/16/2011 dated August 22, 2011;  MIRSD/SE/ Cir-21/2011 dated October 5, 2011 and IR/MIRSD/11/2012 dated September 05, 2012.


2. With a view to bring about operational flexibility and in order to ease the PAN verification process, the intermediaries may verify the PAN of their clients online at the Income Tax  website without insisting on the original PAN card, provided that the client has presented a document for Proof of Identity other than the PAN card.


3. This circular is issued in exercise of powers conferred under 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.


Yours faithfully,


Deputy General Manager





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


M.A.V. Raju

Deputy General Manager