Strengthening the Guidelines and Raising Industry standards for RTAs, Issuer Companies and Banker to an Issue - Clarification
SEBI/HO/MIRSD/DOS3/CIR/P/2018/115 July 16, 2018
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
b. Subsequently, two reminders may be sent by other modes including
ordinary post / courier.
Deputy General Manager