Publishing Investor Charter and Disclosure of Complaints by Registrar and Share Transfer Agents (RTAs) on their Websites

CIRCULAR
SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/670 November 26, 2021 To, All registered Registrars to an Issue and Share Transfer Agents (RTAs) Dear Sir / Madam, Publishing Investor Charter and Disclosure of Complaints by Registrar and Share Transfer Agents (RTAs) on their Websites

1. In order to facilitate investor awareness about various activities where an investor has
   to deal with RTAs for availing Investor Service Requests, SEBI has developed an Investor Charter for RTAs, inter-alia, detailing the services provided to Investors, Rights of Investors, various activities of RTAs with timelines, Dos and Don’ts for Investors and Grievance Redressal Mechanism.

2. In this regard, all the registered RTAs shall take necessary steps to bring the Investor
   Charter, as provided at ‘Annexure – A’ to the notice of existing and new shareholders by way of:
   a. disseminating the Investor Charter on their websites / through e-mail; b. displaying the Investor charter at prominent places in offices etc.

3. The Registrar Association of India (RAIN) shall also disseminate the Investor Charter
   on its website.

4. Additionally, in order to bring about transparency in the Investor Grievance Redressal
   Mechanism, it has been decided that all the registered RTAs shall disclose on their respective websites, the data on complaints received against them or against issues dealt by them and redressal thereof, latest by 7 th of succeeding month, as per the format enclosed at ‘Annexure - B’ to this circular.

5. These disclosure requirements are in addition to those already mandated by SEBI.

6. The provisions of this circular shall come into effect from January 01, 2022.

7. This circular is issued in exercise of powers conferred by Section 11(1) of the
   Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

8. A copy of this circular is available on SEBI website at www.sebi.gov.in under the
   categories “Legal Framework -> Circulars”.
   Yours faithfully,
   Aradhana Verma
   Deputy General Manager
   Market Intermediaries Regulation and Supervision Department Tel. No. 022-2644 9633 Email id - aradhanad@sebi.gov.in

Annexure – A
INVESTOR CHARTER – REGISTRARS TO AN ISSUE AND SHARE TRANSFER AGENTS (RTAs) VISION To be a trusted, transparent and prompt service provider to the investors, conforming to the highest standards of compliance, confidentiality and professionalism in conduct, to meet the obligation towards investors in Indian capital markets. MISSION  To maintain high standard of integrity in the conduct of business by fulfilling obligations in a prompt, ethical and professional manner.  To comply with all regulatory requirements in a time bound manner  To facilitate prompt service to investors by and through streamlining the process and harnessing technology  To facilitate easy approach, communication and interface with investors so as to resolve their queries / grievances Services provided by RTA to investors  Providing details of allotment and clarification on allotment.  Processing change in /up-dation of the KYC details of the investors for physical holdings like change of address/bank account details/ e-mail address /telephone/mobile/ nomination and PAN).  Processing and updating investor holding/title change requests viz name deletion, transmission, transposition, issue of duplicate shares, dematerialization and rematerialisation of securities.  Processing of other requests, viz., recording of declaration w.r.t. exemption / lower tax rates for TDS on dividend/interest, revalidation and reissue of dividend and interest instruments.  Execution and intimation of other corporate actions viz., ESOPs, Dividend payment, Stock split, Bonus issue and Merger/Demerger activities.  Communication of Rights issue entitlements.  Communication of Buyback, exit offer, takeover made by the company/ acquirer, and the procedure to be followed by investor in respect of these issues  Mandatory execution of transfer of shares and dividends to IEPF and transfer of undelivered share certificates to Suspense account.  Process grievance received through mails and Letters and those through SCORES also.

Timelines pertaining to various services provided by RTA Sr No Nature of Service Expected Timelines (number of days) A Investor Service Request:
1 Processing of transmission request 21
2 Processing of issue of duplicate security certificate request 30 3 Processing of dematerialization request 15 4 Processing of remat request 30 5 Processing of Transposition request 15 6 I. Processing of request for change in / up-dation of a. Name 30 b. Signature 30
c. Nomination 30
d. Contact details (Address, E-mail address and Mobile number) 15 e. Bank account details 15
II. Processing of request for Up-dation of PAN 15
7 Processing of Re-validation of dividend / interest / redemption instruments and sending the remittance request files to the bank / Company 15 B Grievance Redressal 1 Providing response to the inquiries of the investors and Redressal of Grievance 30 C Other Operational activities 1 Allotment of securities (IPO) 6 2 Intimation regarding distribution of corporate benefits (dividend, bonus, stock Split) a. E-mail communication b. Physical communication 15 30 Rights of investors  Receive all the benefits/ material information declared by the Company.  Actively participate in the AGM / EGM of the company & E-voting events so as to be a part of the decision making of the Company’s business resolutions.  In case of any grievances, approach RTA, Depository, Company, Stock Exchange or SEBI for resolution within prescribed timelines.

DOs and DON’Ts for Investor
Dos Don’ts
1. Encash dividend/Interest regularly to avoid
transfer of unclaimed amount/underlying securities to IEPF.
2. Follow up diligently and promptly if you have
not receive allotment intimation/ certificate / dividend / interest etc.
3. Ensure that your PAN is registered with the
RTA for all your folios.
4. Ensure nomination is registered for all your
securities to smoothen the transmission.
5. Ensure that all KYC details viz full postal
address with PIN, mobile number, e-mail address etc. are updated to facilitate the RTA for sending communication.
6. Ensure that correct and complete Bank details
are recorded with RTA to facilitate prompt electronic credit of dividend / interest / redemption amounts and eliminate possibility of unclaimed amounts / underlying securities being transferred to IEPF.
7. Promptly inform the RTA in writing and
complete required formalities in case of loss of securities.
8. Ensure that the documents provided for
availing any investor service request are complete in all respects and keep copies of documents sent to the RTA.
9. Monitor all corporate announcements
pertaining to investments made.
1. Do not keep your folios without PAN.
2. Do not keep your folios without
nomination
3. Do not deal with unauthorized
persons for any investor service requests such as change in / up￾dation of address, e-mail address, mobile number and bank details.
4. Do not share security details, viz.
folio number, certificate number, distinctive number(s), bank details, specimen signature, KYC documents, etc. with unknown person(s).

Grievance Redressal – Modes and Escalation Mechanism o To Listed company / RTA a) Investor shall check the website of listed company / RTA for the dedicated grievance e-mail ID and other relevant details of the grievance redressal division / compliance officer for the purpose of registering grievances / complaints. b) Investor can dial on help numbers or point of service of RTA for any query or concern. c) For lodging the grievance, the investor can write to listed entity / RTA’s dedicated e-mail address or through physical letter. d) While lodging a complaint it is necessary for investor to mention the following:
o Nature of Complaint o Name of Issuer Company o Folio number o Full Name of shareholder o E-mail address and mobile number o Reference to any previous correspondence made in this regard o Provide the relevant documents and o also update KYC and details, if there are any changes e) Upon receipt of the complaint, RTA after due verification shall send intimation of redressal / resolution of complaint via e-mail / physical letter as applicable within 30 days from the date of receipt of complaint. o To Stock Exchanges - Online registration of complaint / grievance on stock exchanges:
a) The nature of the complaint that can be lodged against listed company has been given on the websites of the Stock Exchange. Upon receipt of complaint, the stock exchange shall forward the same to the concerned company with a copy to the complainant. b) If the company fails to redress the complaint within 30 days, the exchange sends a reminder to the company and follows up with the company and its respective RTA.

c) If the investor is not satisfied with the redressal / resolution of the complaint by the listed company / RTA, investor can lodge the complaint on the SEBI SCORES. o Grievance Redressal Mechanism at SEBI  Complaints can be lodged with SEBI electronically through SEBI Complaints Redress System - SCORES (a web based centralized grievance redressal system of SEBI at https://scores.gov.in/)

Annexure - B
Data of complaints against Registrar and Share Transfer Agents (RTAs) to be displayed on their websites￾Format for disclosing data of complaints on their website:
Data for the month ending
SN Received from
Carried forward from previous month
Received during the month
Total
Pending#
Resolved* Pending at the end of the month
Average
Resolution time^
(in days)
Pending for less than 3 months
Pending for more than 3 months
1 2 3 4 5 6 7 8
1 Directly from
Investors
2 SEBI
(SCORES)
3 Stock
Exchanges
(if relevant)
4 Other
Sources (if any)
5 Grand
Total
*Should include complaints of previous months resolved in the current month, if any. Should include total complaints pending as on the last day of the month, if any. ^Average resolution time is the sum total of time taken to resolve each complaint in the current month divided by total number of complaints resolved in the current month.

Month – wise data for the current financial year* SN Month Carried forward from previous month Received Resolved Pending 1 2 3 4 5 6 1 July, 2021 2 August, 2021 3 September, 2021 4 October, 2021 5 November, 2021 6 December, 2021 Grand Total Trend of annual (Financial Year) disposal of complaints (for 5 years on rolling basis) * SN Year Carried forward from previous year Received Resolved Pending 1 2017-18 2 2018-19 3 2019-20 4 2020-21 5 2021-22 Grand Total *The data shall be emailed to rta@sebi.gov.in