“Unlock the key takeaways from SEBI’s latest circular on simplified procedures for investors. Mandatory updates for PAN, KYC, and Nomination. Timelines, documentation, and compliance essentials decoded. Stay informed for seamless transactions.”

SEBI – Simplified norms for processing investor’s service requests

Common and simplified norms for processing investor’s service requests by RTAs and norms for furnishing PAN, KYC details and Nomination

  • Earlier SEBI had prescribed norms for processing investor’s service request dated November 3, 2021 and December 14, 2021 and May 2022.
  • Based on the investor feedback and consultation with Registrars Association of India (RAIN), SEBI comes out with another circular dated 16th March 2023.

Take away – SEBI Circular dated 16-03-2023

  • Updation of PAN, KYC and Nomination is mandatory for all physical shareholder in listed company as per annexure
  • If not updated folio shall be frozen by the RTA on or after October 01, 2023.
  • Frozen folio shall be unfrozen after Completing KYC formalities.

Take away – Continued

  • Frozen folios shall be transferred to the administering authority under the Benami Transactions and/or Prevention of Money Laundering Act, 2002, if they continue to remain frozen as on December 31, 2025.
  • If all formalities completed by shareholder RTA will revert the frozen folios to normal status.
  • Only Self-attested copies of documents will be accepted by the RTA for processing of requests.
  • Shareholder can provide documents through various mode such as in person, through post or electronically (Digital
  • Details shall be furnished by shareholders as may be prescribed by SEBI in annexure C and D.
  • Indemnity is not required for any request except transmission and request for issuance for duplicate security certificates.
  • Timelines for registering of / updation of / change in PAN, KYC and nomination – as per circular dated November 26, 2021.
  • Nomination or amendment therein shall effect as and when RTA/Company received all formalities.
  • RTA/Company shall provide their complete contact details on their respective websites and stock exchange.
  • RTAs shall raise all objections, if any, in one instance only unless there is any deficiency / discrepancy in the documents.
  • Apart from physical, all communication and processing shall be made through email of shareholders provided that same id is to be registered with the RTA.
  • Listed companies, RTAs and Exchanges shall disseminate the requirements to be complied with by holders of physical securities on its websites.
  • Half yearly intimation shall be sent by RTA/Company to its physical shareholders for updating KYC.
  •  For the FY 2022-23, intimation shall be sent by the listed companies on or before May 31, 2023.
  • RTAs shall provide a certificate of compliance from a practicing Company Secretary (PCS), within 30 days from the date of this circular coming into effect i.e. April 30, 2023.
  • Listed Companies/RTAs shall submit a report to SEBI by May 31, 2023, on the steps taken by them towards sensitizing their security holders regarding mandatory furnishing of PAN, KYC and nomination details as per
    annexure A of this circular.
  • Any benefits in respect of such frozen folios, only through electronic mode with effect from April 01, 2024.
  • Forms for availing various Investor services – as per annexure D of this circular.

Documents & Forms

For Updating KYC & PAN Proof of Identity & Address
PAN /Contact /Bank/ Signature – ISR-1 / 2 Aadhaar / DL / Passport
Nomination – SH-13, SH-14, ISR-3, PAN / Marriage certificate / Divorce decree
Issuance of new/ duplicate certificate – ISR-4 Utility bills / POA / CML
Any identity issued by Govt.


Author Bio

Qualification: Student - CA/CS/CMA
Company: Thermax Limited
Location: PUNE, Maharashtra, India
Member Since: 07 Feb 2022 | Total Posts: 8
I am a Company Secretary, currently working with Thermax Ltd at Pune as a CS management trainee. I am an energetic and passionate person for my profession. I enjoy doing my work, and have a genuine interest in corporate practices. View Full Profile

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February 2024