Updation of KYC and Nomination Process
SEBI has, vide Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated 7th May 2024, issued in supersession of earlier circulars and SEBI circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/81 dated June 10, 2024 (‘the SEBI Circulars’) has mandated furnishing following information by holders of securities in physical form:
- a. Valid PAN – i.e. PAN linked with Aadhaar
- b. Choice of Nomination – Registration by submitting Form SH-13 or Declaration to opt out of nomination by submitting Form ISR-3
- c. KYC Details that includes:
- i. Contact details – Present postal address with PIN code and mobile number in all cases, and e-mail address for availing online services
- ii. Bank account details – Bank and branch name, bank account number, IFSC code
- iii. Specimen signature – By submitting duly attested Form ISR-2
Dealing in Folios without PAN, KYC details and Nomination:
The SEBI Circular mandates that any service request or grievance shall be entertained or any payment, including payment of dividends, shall be made electronically to the security holders holding securities in physical form, only upon furnishing of the Valid PAN and the KYC Details, as mentioned above, against their respective folios.
Pursuant to the SEBI circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/81 dated June 10, 2024, the condition of furnishing or updating of ‘Choice of Nomination’ against the folio has been relaxed and any service request or grievance shall be entertained or payment of dividend etc. shall be made if all other mandatory information, except the Choice of Nomination, has been furnished. However, the shareholders are encouraged, in their own interest, to provide or update the ‘Choice of Nomination’ against the folio for ensuring smooth transmission of securities.
Issuance of Securities in dematerialized form in case of Investor Service Requests
SEBI has, vide Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated 7th May 2024, issued in supersession of earlier circulars, mandated that, while processing service requests in relation to Service Request mentioned below against Form ISR-4 and Form ISR-5, the Company shall issue securities only in dematerialised form.
Details of various forms prescribed by SEBI is given below:
| Sr. No. | Form No. | Description of the Form | Link to download the Form |
|---|---|---|---|
| 1. | ISR-1 | Request for Registering/updation of the following
details:
- PAN |
Form ISR-1 |
| 2. | ISR-2 | Confirmation of Signature of securities holder by the Banker* | Form ISR-2 |
| 3. | ISR-3 | Declaration Form for Opting out of Nomination | Form ISR-3 |
| 4. | SH-13 | Nomination Form (Members are requested to avail the nomination facility) |
Form SH-13 |
| 5. | SH-14 | Cancellation or Variation of Nomination | Form SH-14 |
| 6. | ISR-4 | Request for issue of Securities in dematerialized form in case of below: i. Issue of duplicate securities certificate ii. Claim from Unclaimed Suspense Account & Suspense Escrow Demat Account iii. Renewal / Exchange of securities certificate iv. Endorsement v. Sub-division / Splitting of securities certificate vi. Consolidation of securities certificates/folios vii. Transposition viii. Change in the name of the holder |
Form ISR-4 |
| 7. | ISR-5 | Investor Service Request for Transmission of Securities by Nominee or Legal Heir | Annexure-16 |
| 8. | Annexure D | Individual Affidavits to be given by ALL the Legal Heirs OR Legal Heirs named in Succession Certificate*/ Probate of Will*/ Will*/ Letter of Administration*/ Legal Heirship Certificate | Annexure-17 |
| 9. | Annexure E | Bond of Indemnity to be furnished jointly by all Legal Heir(s) including the Claimant(s) (To be submitted on Non-judicial Stamp Paper of appropriate value) [For Transmission of Securities on death of Sole Securities’ Holder, where no nomination has been registered] | Annexure-18 |
| 10. | Annexure F | No-Objection Certificate from the Legal Heir(s) - Format of NOC from other Legal Heir(s) for Transmission of Securities in favour of the Claimant(s) wherein the Sole Holder is deceased, and NO NOMINATION has been registered [To be submitted in non-judicial stamp paper of appropriate value] | Annexure-19 |
| 11. | Form A | Affidavit - For issuance of duplicate securities | Form A |
| 12. | Form B | Indemnity - For issuance of duplicate securities | Form B |
*Specimen Signature – – Registering present specimen signature against folio is also mandatory. In case of major mismatch in the signature of the members(s) as available in the folio with the RTA and the present signature or if the signature is not available with the RTA, then the member(s) shall be required to furnish Banker’s attestation of the signature as per Form ISR-2 along-with the documents specified therein. Hence, it is advisable that the members send the Form ISR-2 along-with the Form ISR-1 for updating of the KYC Details or Nomination, except in cases where the shareholder is visiting the Office of the RTA in person for the same.
Mode of submission of form(s) and documents
Physical or Hard copy
Member (s) can forward the hard copies of duly filled-in and signed form(s) along with self- attested copies of relevant documentary proofs as mentioned in the respective forms, to the following address:
KFin Technologies Limited, Unit: CIE Automotive India Limited Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad – 500 032Through ‘In Person Verification’ (IPV)
The original documents can be submitted by the member (s) in person at RTA’s office which shall be verified by the authorised person of the RTA and retaining copy(ies) with IPV stamping with date and initials.
Through Electronic Mode with e-sign
In case you have registered your email address, you may send the scan soft copies of the form(s) along with the relevant documents, duly e-signed, from your registered email id einward.ris@kfintech.com or upload KYC documents with e-sign on RTA’s website at the link: https://ris.kfintech.com/clientservices/diy/
Mandatory Self-attestation of the documents submitted in any mode
Please note that, each page of the documents that are submitted in hard copy must be self- attested by the holder. In case the documents are submitted in electronic mode then the same should be furnished with e-sign of scan copies of the documents.
E-sign
E-Sign is an integrated service which facilitates issuing a Digital Signature Certificate and performing signing of requested data by eSign user. The holder/claimant may approach any of the empanelled eSign Service Provider, details of which are available on the website of Controller of Certifying Authorities (CCA), Ministry of Communications and Information Technology ( https://cca.gov.in/ ) for the purpose of obtaining an e-sign.
Information for shareholders holding Securities in Demat Form
Nomination in demat and trading accounts
SEBI Master Circular No. SEBI/HO/MRD/MRD-PoD-1/P/CIR/2024/168 dated 3 rd December 2024 (which also incorporates the details of circular no. SEBI/HO/MIRSD/POD-1/P/CIR/2024/81 dated 10 th June 2024) provides that non-submission of ‘Choice of Nomination’ shall not result in freezing of Demat Accounts.
However, all new investors shall continue to be required to mandatorily provide the 'Choice of Nomination' for demat accounts (except for jointly held Demat Accounts).
However, the existing investors are encouraged, in their own interest, to provide or update the ‘Choice of Nomination’ against their Demat Accounts for ensuring smooth transmission of securities.
Online Dispute Resolution Portal
SEBI vide its circular SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023 (updated up to December 2023) has introduced Online Resolution of Disputes in the Indian Securities Market by establishing a common Online Dispute Resolution Portal (“ODR Portal”).
Investors (or holders on account of nominations or transmission being given effect to) may refer any unresolved issue of any service requests / service-related complaints for due resolution by harnessing online conciliation and/or online arbitration as specified in this circular.
For more details related to online dispute redressal process you may kindly visit the ODR Portal at the weblink: https://smartodr.in/intermediary/login.