28^th February 2019

NOTICE

Sub: Relaxation from requirement to furnish a copy of PAN for transfer of equity shares of listed entities executed by non-residents

To all Listed Companies

Attention of such aforesaid listed companies are drawn to SEBI Circular Ref. No. SEBI/HO/MIRSD/DOS3/CIR/P/2019/30 dated February 11, 2019 (copy available at CSE web-site at www.cse-india.com and SEBI web-site at www.sebi.com) wherein

“Para (A)(1) of Schedule VII of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”) specifies that the transferee(s) as well as transferor(s) shall furnish a copy of their PAN card to the listed entity for registration of transfer of securities.

It has been brought to the notice of SEBI that many non-residents such as Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), Persons of Indian Origin (PIOs) and foreign nationals have been facing difficulties in transferring shares held by them since many of them do not possess PAN card.

In order to address the difficulties faced by such investors, it has been decided to grant relaxation to non-residents (such as NRIs, PIOs, OCIs and foreign nationals) from the requirement to furnish PAN and permit them to transfer equity shares held by them in listed entities to their immediate relatives subject to the following conditions:

a. The relaxation shall only be available for transfers executed after January 01, 2016.

b. The relaxation shall only be available to non-commercial transactions, i.e. transfer by way of gift among immediate relatives.

c. The non-resident shall provide copy of an alternate valid document to ascertain identity as well as the non-resident status.”

This is for information and necessary action.

CS Chandrani Datta

Executive-Listing