The Securities and Exchange Board of India (SEBI) has recently announced an amendment to its Circular on the issue of certified copies of orders and circulars. The new circular dated June 13, 2023, aims to streamline the procedure for issuance of certified copies based on requests for orders and circulars passed or issued by the board.
The primary change in the new Circular involves the payment method for the fees charged for the certified copies of orders and circulars. SEBI has decided to do away with the acceptance of demand drafts for the fees. Instead, the fees can now be paid through direct credit in the SEBI’s bank account via NEFT/RTGS/IMPS or online payment using the SEBI payment gateway.
This move is seen as a way to simplify and accelerate the payment process, in line with the larger digital transition trends in the financial sector. By leveraging digital banking facilities, SEBI aims to expedite the process of obtaining certified copies of orders and circulars, reducing processing time and increasing efficiency.
The charges for the certified copies remain unchanged at ₹ 50/- per order or circular or ₹ 5/- per page, whichever is higher. Confirmation of the electronic payments made through these methods should be sent to the concerned department.
Securities and Exchange Board of India
Circular No. SEBI/HO/LAD1/LAD1_DoP3/P/CIR/2023/88 Dated: June 13, 2023
To,
All Divisions / Departments
SEBI Head Office, Regional Offices and Local Offices
Dear Sir/Madam,
Subject: Amendment to Circular on issue of Certified copies of Orders and Circulars
1. Vide Circular no. CIR/LAD/1/2019 dated April 4, 2019, SEBI had issued a Circular on issue of certified copies of orders and circulars (‘2019 Circular’) in order to streamline the procedure for issuance of certified copies of orders and circulars based on requests for certified copies of orders passed by the Board, Adjudicating Officers or Recovery Officers or circulars issued by the departments of the Board.
2. It has been decided to do away with the acceptance of demand draft with respect to the fee charged for the certified copies of orders and circulars. Accordingly, paragraphs 8 and 9 of the 2019 Circular are modified as below:
(i) Paragraph 8 shall stand modified as follows:
A non-refundable fee of ₹ 50/- per order or circular or ₹ 5/- per page, whichever is higher, shall be charged as fees for each certified copy. The same shall be paid along with the application or subsequently within such time as may be informed to the applicant, by way of direct credit in the bank account of the Board through NEFT/RTGS/IMPS or online payment using the SEBI payment gateway or any other mode as may be specified by SEBI from time to time.
(ii) Paragraph 9 shall stand modified as follows:
The confirmation of payments made electronically through NEFT/RTGS/IMPS modes or online payment using the SEBI payment gateway should be sent to the concerned department and also to e- mail id:- tad@sebi.gov.in in the format as given below:
(i) Name of payer:
(ii) Date of payment:
(iii) Amount Paid:
(iv) Transaction no:
(v) Name of the Bank in which payment is made:
(vi) IFSC Code:
(vii) Virtual Account Code:
(viii) Purpose:
(ix) Whether registered with GST:
(x) If Yes, GST number:
3. All other provisions of the 2019 Circular shall continue to remain same.
4. This circular is issued in exercise of powers conferred under sub-section (1) of section 11 of the Securities and Exchange Board of India Act, 1992 and shall come into force with immediate effect.
5. This circular is issued with the approval of the competent authority.
6. This circular is available on SEBI website at www.sebi.gov.in under the category “Legal Framework -> Circulars”.
Yours faithfully,
Durgesh Kumar Thakur Deputy General Manager Division of Policy-3 Legal Affairs Department-1 +91-22-26449144 durgeshkt@sebi.gov.in
