Procedure for Investor’s Service Request for Transmission of Securities

investors Service Request for Transmission of Securities

The operational rules for the processing of the investor service requests towards the intention of the transmission of the securities are mentioned as:

  • The RTA/Issuer Companies shall use the format for
The RTA/Issuer Companies shall use the format for
  • Post validating and processing the request, the Registrar and Share Transfer Agent or issuer companies will intimate the claimants about its execution as might be applicable, through the way of providing the letter of confirmation (format at annexure G).
  • The RTA will maintain the physical securities according to the current mechanism and deface the certificate with a stamp “Letter of Confirmation Issued” on the face reverse of the certificate, next to the processing of the service request.
  • The Letter of Confirmation would, inter-alia, pose the information of folio and Demat account number (if available) of the claimant(s).
  • The Letter of Confirmation would be sent by the RTA / Issuer Companies through Registered / Speed Post to the claimant(s) and a digitally signed copy of the Letter of Confirmation will be sent by the RTA/Issuer Companies to the claimant(s) through e-mail.
  • In 120 days of issue of the letter of confirmation, the claimants(s) will submit the Demat request, as well as the original letter of confirmation or the digitally signed copy of the letter of confirmation, to the depository participant (DP).
  • DP will generate the Demat request on the grounds of the letter of confirmation and forward that to the issuer company/ RTA towards processing the Demat request.
  • For the case when the securities are needed to be locked in, the Registrar and Transfer Agent during approving or confirming the Demat request will start or tell the depository about the lock-in and its duration.
  • The RTA or the issuer companies will give a reminder post to the finish of 45 days and 90 days from the issuance date of the letter of confirmation, telling the claimants to submit the Demat requests as mentioned above it is for the case when no request is being obtained by RTA or issuer company.
  • For the case of non-receipt of the Demat request through the claimants within 120 days of the date of issuance of the letter of confirmation, the securities will be credited to the Suspense Escrow Demat Account of the Issuer Company.

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