For The Attention of - Holders of Physical Shares

Common and Simplified Norms for processing investor’s service request and furnishing of PAN, KYC details and Nomination

As an on-going measure to enhance the ease of doing business for investors in the securities market, the SEBI, vide its Circular dated March 16, 2023, with subject ‘Common and Simplified Norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and Nomination’ (‘SEBI Circular’), has mandated the following:

1. Furnishing of PAN, KYC details Incl. Contact details, Bank details, Specimen Signature and Nomination by holders of physical securities;

2. Compulsory linking of PAN and AADHAAR by all holders of physical securities; and

3. Freezing of folios without valid PAN, KYC details Incl. Contact details, Bank details, Specimen Signature and Nomination, in case the same is not available, on or after October 01, 2023.

Important actionable for the Holders of Physical Shares: 
 

A.Compulsory furnishing of PAN, KYC Details, and Nomination

Regulation: SEBI has mandated all holders of physical securities in listed company to furnish the following documents / details to the Registrar and Share Transfer Agent (‘RTA’):

• PAN; 
• Nomination (for all eligible folios); 
• Contact details (Postal address with PIN, Mobile number, E-mail address);
• Bank account details (bank name and branch, bank account number, IFSC code); and
• Specimen signature.
   

Actionable: In case any of the aforesaid information/documents are not provided earlier, the holders of physical shares of the Bank are required to furnish the same to the Bank’s RTA, KFin Technologies Limited, in the manner as provided herein below:

Sl. No.	Details to be Provided	Documents Required	Form for Furnishing Details
1	Valid PAN	Self-certified copy of PAN duly linked with AADHAAR	Form No. ISR -1
2	Contact details: i. Postal address with PIN;  ii. Mobile number; iii. E-mail address	In case of change in address, self-certified copy of the Postal address proof as per point no. C (3) of Form ISR -1. It is compulsory to provide Mobile number and E-mail ID.
3	Demat account details, in case available	Client Master List (‘CML’) of your Demat Account, duly signed by the Depository Participant with stamp.
4	Bank account details: i. Bank name and branch name; ii. Bank account number; iii. IFS code	Self-certified copy of Bank passbook; or   Bank Statement attested by Bank, in original; or    original cancelled cheque leaf, bearing the name of the shareholder printed on it
5	Specimen Signature (for shareholder whose specimen signature is not available with the RTA or who wish to update their existing signature in the records of the RTA)	Banker’s attestation of the signature of the holder(s); along with: original cancelled cheque, bearing the name of the shareholder printed on it; or   Self-certified copy of Bank Passbook/ Bank Statement;	Form No. ISR-1   Form No. ISR-2
6	Nomination details (for shareholders who have not registered any nominee)	Original copy of Nomination Form as provided in the Rule 19(1) of the Companies (Shares Capital and Debenture) Rules, 2014	Form No. SH-13
	Change in Nomination  (for shareholders who have registered nominee(s), but, they wish to change/alter the same)	Original copy of Variation of Nomination Form as provided in the Rule 19(9) of the Companies (Shares Capital and Debenture) Rules, 2014	Form No. SH-14
	Declaration to opt out nomination (for shareholders who have not registered any nominee and who do not wish to have any nominee)	In case the holder does not wish to nominate any person, then the ‘Declaration to Opt-out’, shall be furnished in original	Form No. ISR-3
7	Cancellation of nomination (for shareholders who have registered nominee(s), but, who no longer wish to have any nominee)	Original copy of Cancellation of Nomination Form as provided in the Rule 19(9) of the Companies (Shares Capital and Debenture) Rules, 2014; and   Form for ‘Declaration to Opt out’ is also required to be submitted	Form No. SH-14   Form No. ISR-3

 

B. Compulsory Linking of PAN with AADHAAR (i.e., Valid PAN) – by June 30, 2023
 

Regulation: SEBI has advised investors to link their PAN with their AADHAAR number by June 30, 2023, or any other date, as may be specified by the Central Board of Direct Taxes (‘CBDT’). 

The folios in which PAN(s) is/are not valid as on the notified cut-off date of June 30, 2023, or any other date as may be specified by the CBDT, shall be frozen.

Actionable: Shareholders are requested to link their PAN with their AADHAAR number before June 30, 2023 or any other date as may be specified by the CBDT, so as to have valid PAN and avoid folio freeze / restriction on their securities or transaction until the PAN and Aadhar are linked.

C. Mandatory Freezing of Folios as per SEBI Circular:
 

• July 01, 2023 (or any other date as may be specified by the CBDT): - Folio in which PAN is not linked with AADHAAR shall be frozen, as mandated by SEBI. 
   
• October 01, 2023: - KFin Technologies Limited, RTA of the Bank shall freeze the folios wherein any of the document/details, i.e., PAN, Nomination, and KYC details Including Contact details, Bank account details, and Specimen Signature and are not available, as mandated by SEBI.
   

 

Implications:

• Impact on RTA Services: -
  October 1, 2023: - The security holder(s) whose folio(s) have been frozen shall be eligible to lodge grievance or avail any service request from the RTA only after furnishing PAN, Nomination and KYC details including Contact details, Bank account details and Specimen Signature.
• Impact on entitlements: - Frozen folios shall be eligible for any payment including dividend, interest or redemption payment in respect of such frozen folios, only through electronic mode with effect from April 01, 2024.
• Regulatory Reporting: - Securities in the frozen folios shall be referred by the RTA/Bank to the administering authority under the Benami Transactions (Prohibitions) Act, 1988 and/or Prevention of Money Laundering Act, 2002, if they continue to remain frozen as on December 31, 2025.

Actionable: 

• Accordingly, as mandated by SEBI Circular, in order to avoid freezing of folios, holders of physical securities of the Bank are requested to update the following details/documents with KFin Technologies Limited, RTA of the Bank, immediately:
  • Valid PAN
  • KYC Details (Postal address with PIN, Mobile number, E-mail address, Bank account details, Specimen signature)
  • Nomination details
  • Linking of PAN with AADHAAR number
• These documents can be sent directly to the RTA in any of the following manner:
  • Through ‘In Person Verification’ (IPV): Shareholders can submit their required documents at regional office of the RTA’s across the country.

  • Through hard copies: Shareholders can send duly self-attested and dated hard copies of the required documents to below mentioned address of the RTA. 

  • Electronic Mode: Shareholders can send the required documents with E-sign from their registered email ID, as prescribed by SEBI. 

• Alternatively, in order to avoid freezing of their folios, holders of physical securities of the Bank may get their shares dematerialized.

KFIN Technologies Limited
(Unit: Bandhan Bank Limited)
Selenium Building, Tower-B, 
Plot No 31 & 32, Financial District, 
Nanakramguda, Serilingampally,
Hyderabad, Rangareddy, Telangana India - 500 032.
Email ID: einward.ris@kfintech.com
Phone: 1800 309 4001
WhatsApp: (91) 910 009 4099
KPRISM: https://kprism.kfintech.com
Corporate Website: https://www.kfintech.com
Corporate Registry (RIS): https://ris.kfintech.com
Investor Support Centre: https://ris.kfintech.com/clientservices/isc

For futher information please refer to SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37 dated March 16, 2023 available here: 
SEBI Circular on ‘Common and simplified norms for processing investor’s service requests by RTAs and norms for furnishing PAN, KYC details and Nomination’

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As an on-going measure to enhance the ease of dealing in securities market by the investors, the SEBI, vide its Circular dated January 25, 2022 and May 18, 2022 has mandated that the listed companies shall henceforth issue the securities in dematerialized form only while processing the following service request.

Sl. No.	Nature/Details of Request	Required Form
1	Issue of duplicate securities certificate	Form No. ISR-4 (along with relevant documents)
2	Claim from Unclaimed Suspense Account
3	Renewal / Exchange of securities certificate
4	Endorsement
5	Sub-division / Splitting of securities certificate
6	Consolidation of securities certificates/folios
7	Transposition
9	Transmission	Form No. ISR-5 (along with relevant documents)

 

Shareholder shall submit the above-mentioned services request vide duly filled-in Form ISR-4 or ISR-5 as applicable along with requisite documents.

Important Point to note.

SEBI has mandated that request for affecting transfer of securities shall not be processed unless the securities are held in dematerialized form with a depository.

Similarly, transmission or transposition of securities held in physical or dematerialized form shall be effected only in dematerialized form.