Clarifications on ‘Common and simplified norms for processing investor’s service request by RTAs

Last updated: 17 December 2021

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This circular provides important clarifications regarding the processing of investor service requests by Registrars to an Issue and Share Transfer Agents (RTAs). It addresses specific points from a previous circular dated November 3, 2021, offering guidance on nomination forms, signature mismatches, address changes, and the acceptance of self-attested documents. The clarifications aim to streamline processes and ensure investor interests are protected.

Securities and Exchange Board of India CIRCULAR SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/687 December 14, 2021 To All registered Registrars to an Issue and Share Transfer Agents (RTA) All Listed Companies through Recognized Stock Exchanges Recognized Stock Exchanges All Recognized Depo

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FAQ :

Form SH13 (nomination form) and ISR 3 (opting out) will be sent in phases: Phase 1 for single account holders from January 1, 2022, and Phase II for joint account holders from April 1, 2022. RTAs will provide soft copies on their websites.

For minor signature mismatches, the service request processing timeline starts after a 15-day notice period. If the RTA's letter is undelivered, investors will be advised to get signature verification from their bank.

For major signature mismatches or if the signature card is unavailable, the holder must provide an original cancelled cheque with their name printed on it, a bank passbook, or a bank statement attested by the bank, along with banker's attestation of the signature as per Form ISR-2.

No, for all service requests except transmission, RTAs will now process copies of documents if they are self-attested by the holder(s). Affidavits or notarisation are no longer required.

From January 1, 2022, RTAs will not process any service requests or complaints from holders/claimants until PAN, KYC, and Nomination documents/details are received.

From January 1, 2022, eligible payments including dividends, interest, or redemption payments will only be made through electronic mode. Companies will ensure holders are informed that payments will be made electronically upon compliance with the requirements.