a

Blog Details

FREEZING OF FOLIO IF NO PAN, ADHAAR, KYC UPDATED

04, Jan 2022
FREEZING OF FOLIO IF NO PAN, ADHAAR,  KYC UPDATED

This Circular shall come into effect from 01st January, 2022. As Per SEBI circular dated November 03rd, 2021, following norms have been notified with regards to KYC norms and Investor service:-

  • Simplified norms for processing Investor Service Request:-
  1. Minor Mismatch in Signature:
  • In case of Minor mismatch in signature, RTA shall intimate holder by Speed post giving timeline of 15 days for raising objection, after that service request shall be processed.
  • If the above letter from RTA remains undelivered, then RTA need to ask for Signature verification from Bank

 

  1. Major Mismatch in Signature:
  • In case of Major mismatch in signature or non availability of signature in RTA records, RTA shall ask for Signature verification in Form ISR-2 along with cancelled cheque

 

  1. Furnishing of PAN:
  • Furnishing of PAN is already mandatory, but now RTA shall verify the PAN from Income Tax Department PAN verification facility

 

  1. Change of Address:
  • RTA shall send intimation of change of address to holder at the old and new address
  • If the above intimation letter returns undelivered or  if there is any objection, RTA shall ask proof of old address or counterfoil of Dividend Warrant or Bank statement showing credit of dividend.

 

  1. Self attestation to replace Affidavits / Notarisation:
  • For all Service Requests except Transmission,  copies of documents submitted in hard copy shall be processed by RTA if it is self attested. RTA shall not insist on Notarisation of Documents.

 

 

 

  • Mandatory furnishing of PAN, KYC and Nomination:-

 

  1. It shall be mandatory for all holders of physical securities in listed company  to furnish following documents:
  • PAN
  • Nomination (Form SH-13) (For SH-14 for change of Nomination)
  • Contact Details (Address, Mobile number, E-mail)
  • Specimen Signature

 

  • Freezing of Folios without PAN, KYC, Nomination:-

 

  • The Folios wherein any one of above 4 details are not updated on or after 01st April, 2023, shall be frozen by RTA.
  • The Folios frozen shall be eligible to lodge any service request or grievance with RTA only after furnishing the complete details (4 details) as described above
  • The Folios Frozen will be paid dividend only after furnishing the complete details (4 details) as described above
  • If the Folios remain frozen as on 31st December, 2025, RTA shall refer them to authority under PMLA (Enforcement Directorate)
  • The RTA shall revert the frozen folio to normal status upon receipt of above 4 details or Dematerialisation of shares

 

Please fell free to reach out to Share Samadhan-???? ?????? should you have any of the following query at samadhan@sharesamadhan.com

  • Is KYC mandatory for physical shares?
  • Is KYC mandatory for demat shares?
  • Is PAN mandatory for holding physical shares?
  • Is PAN mandatory for holding shares in demat?
  • What is freezing of account?
  • What is freezing of physical shares?
  • Is Adhaar mandatory for physical shares?
  • Is Adhaar mandatory of holding shares in demat?
  • Is nomination mandatory of physical shares?
  • Is nomination mandatory of holding shares in demat?
  • What is SEBI circular on KYC of physical shares?
  • SEBI circular on physical shares
  • SEBI circular on PAN card in case of physical shares
  • SEBI circular on demat of shares
  • KYC norms on physical shares
  • KYC norms of dematerialisation of shares
  • What to do in case of minor mismatch in signature?
  • What to do in case of Major Mismatch in Signature?
  • Does bank verification of signature is must in case of minor mismatch in signature?
  • What is form ISR2?
  • Does cancel cheque needed for signature verification?
  • Is furnishing of PAN mandatory for shareholders?
  • What is the process of change of address?
  • What document is needed for change of address for RTA?
  • Change of address of shareholder
  • Does attestation of document required for shares?
  • Is attestation of document mandatory?
  • Is affidavit mandatory?
  • Is Notarisation of Document mandatory for physical shares into demat?
  • What is Nomination (Form SH-13) (For SH-14 for change of Nomination)?
  • Will there be Freezing of Folios without PAN, KYC, Nomination?
  • Can a demat account or physical share folio be Freezed without PAN, KYC, Nomination?
  • From which date the demat account of folio be freeze?
  • What is the deadline to update KYC for physical shares or KYC for demat
  • What is SEBI deadline for KYC updation?
  • What is freezing of account circular of SEBI?
  • What is SEBI circular on freezing of folio?
  • Reporting of frezzing folio to PMLA?
  • All freezed account will be reported to PMLA?
  • Frozen folio shall be referred under the Benami Transation?
  • What is the timeline for referring the frozen folio  under PMLA?
  • What is SEBI circular SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655
  • What is Common and Simplified Norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and Nomination?
  • What is Mandatory furnishing of PAN, KYC details and Nomination by holders of physical securities
  • What is Freezing of folios without valid PAN, KYC details and Nomination?
  • What is Compulsory linking of PAN and Aadhaar by all holders of physical securities?

 

samadhan@sharesamadhan.com

www.sharesamadhan.com

https://www.sharesamadhan.com/contact-us

 

 

Share

Insurance Claim Missing Money IEPF Claim Lost Share

Find Your Missing Money!

  • Don’t Know the Missing / Lost or forgotten Investment ?
  • Please give your brief information
  • We will search for you/your family’s Investment
  • We will not charge any fee for basic search (FREE for Limited period )​

Choose Investment to be searched