Dear Sir \ Madam
The Securities and Exchange Board of India (SEBI) has issued circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/81 dated June 10, 2024, regarding a) Ease of Doing Investments- Non-submission of ‘Choice of Nomination’.
(i) Doing away with freezing of Demat Accounts and Mutual Fund Folios for existing investors.
(ii) To remove freeze on payment of corporate benefits and service of physical folios.
(b) Only 3 fields to be provided mandatorily for updating Nomination Details
SEBI, vide circular no. SEBI/HO/MIRSD/POD-1/CIR/2023/193 dated December 27, 2023, extended the last date for submission of ‘choice of nomination’ for demat accounts and mutual fund folios to June 30, 2024, failing which demat accounts/folios shall be frozen for debits.
By this circular SEBI, for ease of compliance and investor convenience, has decided to make few modifications for existing investors/ unitholders:
The provisions of this circular, except clause 7 above, shall come into effect immediately in supersession of existing provisions. Further, Clause 7 of this circular shall be applicable from October 01, 2024.
The aforesaid circular is attached for reference.
All Listed companies are requested to take note and comply accordingly.
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Manu Thomas
Addl. General Manager-Listing Compliance
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Shyam Bhagirath
Manager-Listing Compliance
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