The following requests are considered as Investor Service Requests
A Registrar to an issue and Share Transfer Agent means a personappointedby a body corporate or any person or group of persons in terms ofSEBI (Registrar to an Issue andShare Transfer Agent), 1993 (“RTA Regulations”),to carry on the activities of Registrar to an issue (RTI) and Share Transfer Agent (STA)as given below,on its or their behalf:
There are two categories of RTAs;
The list of RTAsregistered with SEBI is available on SEBI Website
www.sebi.gov.in Intermediaries Recognized Intermediaries Registrars to an issue and share Transfer Agents
The addressesoftherespective RTAsareavailable on thewebsiteof SEBI as mentioned in answer to Q. No.7above.
Also, the address of the RTAs/STAsof the listed companies areavailable onthewebsite of the Stock Exchanges (NSE and BSE).
On BSE Website http://www.bseindia.com/ >> Get Quote (type the company name and select the company fromthelist, if any) >> Corporate Information >> Registrars.
On NSE Website https://www.nseindia.com/>> Get Quote (type the company name and select the company from the list, if any)>>Corporate Information>>Company Directory>>Transfer Agent Details.
Also, detailsof the RTAscan be found on the website of the respective listed entities.
Contact details such as postal address, phone numbers and e-mail address etc.of RTAs/ STAsare also available on respective websites of the RTAs/ STAs.
The documents / details can be provided by any one of the following modes;
Yes. Vide SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37 dated March 16, 2023, RTAs have been mandated to provide acknowledgement for the documents/ details submitted by investors for service requests.
Regulatory action, if any, taken by SEBI, would be available in the public domain, on the SEBIwebsiteunder the head: Enforcement.
For all investor service requests,duly filled up Form ISR-1 needs to be submitted to the RTA which includes the following:
The form can also be downloaded from the respective websitesof the Listed Companies and their RTAs.
TYes, RTA can update PANandKYC details across all the folios of an investor managed by it. For this, investor will have to give specific authorization inForm ISR-1.
Yes, PAN is mandatory for alltransactions in the securities market as per SEBI circular no. MRD/DoP/CIR-05/2007 dated April 27, 2007.
As per the current provisions of the Income-tax Act, 1961, companies are required to deduct tax @ 10% if the dividend amount exceeds Rs. 5,000. If PAN is not registered with RTA, tax shall be deducted by the Company at the rate of 20%. In view of the same, it is beneficial for the security holder to update PAN in the records of RTA.
Incase the informationpertaining to PANis incomplete or not available in physical folio, then in such a case, investor shouldprovide copy of PANfor updation to the RTA.
Yes.The RTAs cannot process any service requests or complaints received from the holder(s) / claimant(s), till PAN, KYC and nomination documents/details are received and registered as per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37 dated March 16, 2023.
The ‘Exemptions/clarifications to PAN’, as provided in clause D to ‘Instructions/Check List for Filing KYC Forms’ in Annexure –1 to SEBI circular No. MIRSD/SE/Cir-21/2011 dated October 05, 2011 on Uniform Know Your Client (KYC) Requirements for the Securities Market, shall also be applicable for holder(s) / claimant(s) of securities held in physical mode.
Yes, it is compulsory for all the shareholders holding securities either in physical form or in dematerialized form in listed companies to link PAN with Aadhaar numberby March 31, 2023*or any other date as may benotified by theCentral Board of Direct Taxes.
Please refer to the CBDT circular dated March 30,2022.
Also as per SEBI circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37 dated March 16, 2023, the folios in which PAN is / are not valid as on the notified cut-off date of March, 31, 2023 or any other date as may be notified by the CBDT, shall also be frozen.
Nomination enables the issuer company to identify the legal representative of the deceased shareholder and thereby facilitates smooth transmission of his /her securities.
The investor has to submit nomination form SH-13 to the respective RTA through hard copy or electronic mode with e-signature for making nomination in the folio, separately for each company.
The Investor has an option to nominate more than one person as his / her nominee by submitting Form SH-13 to the respective RTA clearly mentioning the names of the nominees and the entitlement percentage against each nominee through hard copy or electronic mode with e-signature for making nomination in the folio, separately for each Company.
Witness shall not be required if the nomination and declaration form is signed under wet signature of the security holder(s). However, if the security holder(s) affixes thumb impression (instead of wet signature), then witness signature shall be required.
Investor will have to submit Form ISR 3 to the respective RTA to opt out of nomination in the folio.
Yes, the joint holderstogether can nominate any person to whom all the rights in the securities shall vest in the event of death of all the joint holders.
A nomination once made can be modified by submitting a fresh nomination form. Investor will have to fill Form SH -14 and submit it to the respective RTA for effecting the changes.
A nomination once made can be cancelled by submitting a Form SH -14 along with Form ISR-3 declaration for opt out to the respective RTA for effecting the changes.
Investor has to approach the RTA or the listed company to make the request. For the contact details of the respective RTA/STAof the listed company, please refer to answer to Q. No.8above.
The following documents need to be submitted to the respective RTA for change in /up-dation of Address:
No, there can be only one address for one folio.
No, address proof along with the requisite documents of first holder itself is sufficient.
Many of the intimations such as information related to Annual General Meetings(AGM) /Extraordinary General Meeting (EGM), corporate actions and announcements etc. are communicated to the shareholders through electronic mode. Also the holder(s) of securities can raise their queries through their registered email ids with the RTA/Listed Companies and the resolution of the same can be done on email. Therefore, providing e-mail address and mobile numbers will enhance quicker and faster update / response.
SEBI vide circular dated March 16, 2023 has mandated investors to provide mobile number in respect of physical folios. In the absence of mobile number, the folios shall be frozen by the RTA with effect from October 01, 2023.
However, investors have a choice to provide email in addition to updation of mobile number in respect of physical folios.
The following are the documents required for change in / updation of bank details:
No. Even if investor has not made specific request for payment of dividend or have requested for just one single dividend payment, the RTA is required to pro-actively pay all unpaid / unclaimed money like dividend, interest, redemption etc. to investor’s account through electronic mode.
Yes, upon updation of complete bank details with RTA, all future payments for that folio will be made through electronic mode only.
Yes, Investors, whose bank details are not available with the Company or where such details are incomplete are required to furnish these details to the respective RTA. Folios which do not have Bank account details shall be frozen by the RTA with effect from October 01, 2023 in accordance with SEBI’s circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37 dated March 16, 2023.
Major Mismatch inSignature
In case of major mismatch in the signature of the security holder as available in the folio of the RTA and the present signature, or in case of updation/non-availability of the specimen signature with the RTA, the RTA, while processing the service request, shall intimate the security holder about such mismatch/updation in signature, through all the following modes:
In such cases, the security holder can register/update the specimen signature through form ISR–1and shall complete either of the two processes:
Option A
Option B
The investor may get his or her signature changed or updated by visiting the office of the RTA in person. In such a case, the investor shall sign before the authorized personnel of the RTA, along with PAN card and any one additional document mentioned below in Table 2, in original for verification by the RTA, and submit self-attested copies of the same.
| S. No. | Document |
|---|---|
| 1 | Unique Identification Number (UID) (Aadhaar) |
| 2 | Valid Passport |
| 3 | Driving license in Smart Card form, Book form or copy of digital form |
| 4 | Identity card / document with applicant’s Photo, issued by any of the following: Central / State Government and its Departments, Statutory / Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions duly attested by their employer with date and organization stamp. |
Minor Mismatch of Signature
In case of minor mismatchin the signature of the security holder as available in the folio of the RTA and the present signature, the RTA, while processing the service request, shall intimate the security holder about the minor mismatch in signature, providing a timeline of 15 days for raising any objection through all the following modes:
As provided in SEBI Circular dated March 16, 2023, RTAs shall update the PAN and KYC details across all the folios of the holder managed by it, upon specific authorization for the same from the holder, as provided in Form ISR-1.
However, in case the investor has folios with different RTAs, then he/she will have to provide the separate documents in original to all the RTAs.
For minor mismatch in name between any two set of documents presented by the security holder / claimant for any service request, the RTA shall additionally obtain self-attested copy of any one of the documents mentioned in Table 3, clarifyingthe difference in names:
| S. No. | Document |
|---|---|
| 1 | Unique Identification Number (UID) (Aadhaar) |
| 2 | Valid Passport |
| 3 | Driving license in Smart Card form, Book form or copy of digital form |
| 4 | Identity card / document with applicant’s Photo, issued by any of the following: Central / State Government and its Departments, Statutory / Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions duly attested by their employer with date and organization stamp |
| 5 | PAN card with photograph |
| 6 | Marriage certificate |
| 7 | Divorce decree |
For instance: If shareholder has opened the demat account in the name of Sushil Ramesh Shah but his name on the share certificate may appear as S. R. Shah or SushilR Shah etc. In such case, the difference in name would be considered as minor mismatch.
In the event of Change of Name / Major Mismatch in Name of the Security Holder, the Security holder/claimant may be allowed to change his / her name, subject to the submission of following documents at the time of change of name of the security holder/claimant:
In terms of SEBI Circular dated March 16, 2023, folios wherein PAN, Nomination, Contact details (postal address with PIN and mobile), Bank A/c details and Specimen signature are not available on or after October 01, 2023, shall be frozen by RTA.
The security holder(s) whose folio(s) have been frozen shall be eligible:
Additionally, frozen folios shall be referred by the RTA / listed company to the administering authority under the Benami Transactions (Prohibitions) Act, 1988 and/or Prevention of Money Laundering Act, 2002, if they continue to remain frozen as on December 31, 2025.
Yes. On submission of PAN, Nomination, Contact details (postal address with PIN and mobile), Bank A/c details and Specimen signature, RTA shall revert the frozen folios to normal status.
The following are the various investor service requestsprocessedby the RTA:
Other Services (through depository participants)
Securitiesshall be issued only in demat mode for all the Investor Service Requests mentioned above at Q. No.42.
Investor has to submit ISR –4 form along with original certificates for all the investor service requests mentioned in answer toQ. No. 42,except for a & b.
After verifying the aforementioned documents, the RTAwill issueLetter of Confirmation, through speed post oradditionallymay send such letter through email with e –sign and / or digital signature,in lieu of physical securities certificate (s) to the holder / claimant within 30 days of its receipt of such request.
Investor shall make request within 120 daysfrom the date of letter of confirmationto Depository Participant (DP)for dematerialising the said securities along with the original letter of confirmation or a copy of the email with e –sign and / or digital signature, as the case may be.
The DP on receipt of the foregoing documents shall generate demat request on the basis of letter of confirmation and forward the same to the issuer company / RTA for processing the demat request.
The Letter of Confirmation is valid for a period of 120 days from the date of its issuance, within which thesecurities holder/claimant shall make a request to the Depository Participant for dematerializing the said securities.
The RTA / Issuer company shall credit the securities to the Suspense Escrow Demat Account of the company.
Securities which have been moved to Suspense Escrow Demat Account may be claimed by the security holder/ claimant on submission of following documents to RTA:
The General norms for processing of documents and the list of documents required for issue of duplicate share certificates are as follows:
Note: The value of securities to be reckonedon the basis of the closing price of such securities at any one of the recognized stock exchanges a day prior to the date of such submission in the application.
An overseas securities holder, in lieu of the documents mentioned in (d) (i) above, shall provide self-declaration of the security certificates lost/misplaced/stolen which shall be duly notarized / apostilled / attested by the Indian Consulate / Embassy in their country of residence, along with self-attested copies of valid passport and overseas address proof.
SEBI vide circular dated January 25, 2022 has mandated that duplicate share certificatesshall be issued in demat mode onlyby way of issue of Letter of Confirmation as mentioned above in Q. No. 44.
No,transfer of securitiesin physical formhas been stopped with effect from April 01, 2019.Requests for effecting transfer of securities shall be processed only if the securities are held in the dematerializedform with a depository.
The relevantnotifications are available in public domain on SEBI Website (www.sebi.gov.in).
Please see answer to Q. No. 50above.
Alternatively,
Case 1:If the transferor is traceable, transferee may contact him and get the securitiestransferred through demat.
Case 2:if the transferor is not traceable, then transferee may like to approach the appropriate authority(Court of law) for establishing claim to title of the securities.
As transfer of physical securitiesof listed companies is not allowed from April 01, 2019, investor has to:
Under the Companies Act, 2013, all joint holders are members (shareholders) of the company. Further, joint holders are each other’s survivors. Accordingly, any change in joint holding is a change in the beneficial ownership. In other words, change from joint to single shareholding can be done only by ‘Transferof shares in demat modeonly’ and not through name deletion. Similarly, change from three joint holders to two joint holders can also be done only by ‘Transferof shares in demat mode only’.
As transfer of physical securitiesof listed companies is not allowed from April 01, 2019,sofor change in joint holding, investor hasto:
Transmission is the process by which securities of a deceased account holder are transmittedto the account of the surviving joint holder (s) / nominee / legal heirs of the deceased shareholder.
For physical securities, the surviving joint holder (s) / nominee / legal heir has to correspond independently with each issuer company / RTA in which securitiesare held for effecting transmission.
SEBI vide circular dated January 25, 2022 has mandated that securities pursuant to transmission shall be issued in demat mode only.
In the event of death of one of the joint holders, the securities will be transmitted to the surviving holder (s) on submission of following documents:
In case of the death of the sole/ allholders, the Nominee has to submit the following documents:
(A)Where the value of securities to be transmitted is more thanrupees five lakhs per listed entityin case of securities held in physical mode, and more thanrupees fifteen lakhs per beneficial ownerin case of securities held in dematerialized mode, as on date of submission of complete documentation, the securities would be transmitted to the legal heir(s)/claimant(s)on submission of the following documents:
(B)Where the value of securities to be transmitted is upto rupees five lakhs per listed entityin case of securities held in physical mode, and upto rupees fifteen lakhs per beneficial ownerin case of securities held in dematerialized mode, as on date of submission of complete documents, the securities would be transmitted to the legal heir)/claimant(s)on submission of the documentsmentioned in (a) to (f) above in 59(A). However, with respect to point (f), inthe absence of Succession Certificate or Probate of Will or Will etc. the legal heir(s) /claimant(s) may submit the followingdocuments:
According to Section 57 read with Section 213 of the Indian Succession Act, 1925 ,probate of will is mandatory:
It refers to the change in the order of names in which physical securities are held jointly in the names of two or more holders of securities.
SEBI vide circular dated January 25, 2022 has mandated that after transposition,securities shall be issued in demat mode only.
A depository is an organization which holds securities (like securities, debentures, bonds, government securities, mutual fund units etc.) of investors in electronic form at the request of the investors through a registered depository participant. It also provides services related to transactions in securities. There are two depositories registered with SEBI. They are,
A DP is an agent of the depository through which it interfaces with the investor and provides depository services. The list of DPs registered with SEBI is available on SEBI website under the head Registered Intermediaries.
SEBI has not mandated conversion of physical holding in demat form.However, the risks pertaining to physical certificates like loss, theft, forgery and damage etc. can be eliminated with a Demat account and it is advisable to convert the physical holdings in demat form.
Firstly, investor needsto update his bank details such as name of the bank, branch address, IFSC, MICR code etc. with his/her DP. The DP will update bank mandate. Upon updation of bank mandate with all the relevant details mentioned above, all dividends, interest, redemption amount will be directly credited to registered bank accountof the investor.
Further, if there is any change or updation in address / Bank mandate, investor should immediately inform the DP along with requisite documents, who in turn will update the records.
For the purpose of dematerialisation of securities where there are 4 or more joint holders, a separate demat account in the name of the joint holders with four or more names can be opened in terms of NSDL Circular No. NSDL/PI/99/231.
While opening the account, the Depository Participant shall capture the names of the four or more joint holders by numbering them in the Depository Participant Module (DPM) and entering the first holder's name in the first holder's field and accommodating the rest of the names in the fields for second and the third holder, eg. : -In case of joint holdings in four joint names of Mr. A, Mr. B, Mr. C & Mr. D, the account can be opened in the DPM as follows; First Holder's Name: Mr. A; Second Holder's Name -Mr. B; Third Holder's Name-Mr. C and Mr. D.
Yes, the securitiesdematedcan be converted into physicalform. This process of converting of securitiesfrom Demat to physical form is called rematerialisation of securities.
For more information on the above queries,investorsmay refer FAQs on Depository System available on SEBI website.
Investor can file his / her grievance / complaint with respective listed company / RTA.
The following are the modes of escalation through which investor can escalatehis / her grievance / complaint.
Listed company / RTA
Stock Exchanges
Online registration of compliant / grievance on stock exchanges:
Grievance Redressal Mechanism at SEBI
Complaints can be lodged with SEBI electronically through SEBI Complaints Redress System -SCORES(a web based centralized grievance redressal system of SEBI).
All unclaimed securities pertaining to public issues and ‘other issues’ (like bonus, split, consolidation etc.) of listed companies are kept in Suspense Account. In other Issues, securities are allotted in physical or in demat mode as per the existing shareholding.In addition, the security certificates which are returned undelivered to the issuer company / RTA shall also be transferred to Unclaimed Suspense Account by following the procedure laid down in Regulation 39(4) of SEBI (LODR) Regulations, 2015.
If these securities are unclaimed:
Yes, corporate benefits accruing on unclaimed securities are also credited to these aforesaid suspense accounts and their voting rights remains frozen.
Investor can claim securities from these accounts by writing to the listed company / RTA.
No, SEBI vide circular dated January 25, 2022 has mandated that securities that have been transferred to unclaimed suspense account shall be claimed only in demat mode
Securities lying in the Demat Suspense Account can be claimed only in demat mode and the investor has to provide demat account for the same.
No. IEPF Authority is created under the provision of the Companies Act, 2013. Once securities or money of investor is transferred to this authority, the matter would not fall under the regulatory purview of SEBI.
Investor may approach the authority directly (iepf.gov.in). In this regard, the website of IEPF Authority gives the contact details, claim forms, the procedure for making claim, FAQs, grievance redressal etc.