SEBI has increased the existing threshold limit for simplified documents from ₹2 lakh to ₹5 lakh per listed issuer for securities held in physical mode
SEBI has increased the existing threshold limit for simplified documents from ₹2 lakh to ₹5 lakh per listed issuer for securities held in physical mode
With a view to simplify the process of transmission of securities, the Securities and Exchange Board of India (SEBI) has increased the limit for simplified documents from ₹ 2 lakh to ₹ 5 per listed issuer at present for securities held in physical mode. Lakhs done.
Also, the limit for securities held in dematerialized mode has been increased from the existing Rs 5 lakh to Rs 15 lakh for each beneficiary account in this regard.
“The legal succession certificate or its equivalent certificate issued by a competent government authority shall be an acceptable document for transmission of securities,” the regulator said in a notification issued on Tuesday. The objective is to ensure that the same procedures are followed by the Registrars for an issue and Share Transfer Agents (RTAs)/listed companies, which will further ease the transmission process for the investors.
To give effect to this, the capital markets regulator has amended SEBI’s Listing Obligations and Disclosure Requirements or LODR Regulations. The move comes after the board of SEBI approved a proposal in this regard in its meeting in late March. The regulator in its notification has also listed the documentation requirements in case of transfer of securities.
In case of transmission of securities, where the securities are held in the same name along with the nomination, SEBI said transmission request form by the nominee, the original death certificate or copy of the death certificate attested by the nominee and the Permanent Account Number Documents like copy of (PAN). ) Nominee’s card has to be submitted.
“In case of transmission of securities, where the securities are held in the same name without nomination, notarized affidavits from all legal heirs made on non-judicial stamp paper of fair value, to the effect of identification and claim of legal ownership, Documents including. For securities, need to be submitted.”
“If the succession certificate or the probate of the will contains the names of the legal heirs, then the legal succession certificate or its equivalent certificate may be submitted,” Sebi said.