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

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:

a. 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.

b. Subsequently, two reminders may be sent by other modes including

ordinary post / courier.

Yours faithfully,

Surabhi Gupta

Deputy General Manager

 

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