Why should I update my PAN, KYC & Nomination details to dematerialize my physical share certificates?

Why should I update my PAN, KYC & Nomination details to dematerialize my physical share certificates?

As per the circular dated 3rd November 2021, The Securities & Exchange Board of India has mandated the investors to update their PAN, KYC & Nomination details on or before 31st March 2023 to accomplish different service requests such as the issue of duplicate securities certificate, replacement/renewal/exchange of securities certificate, dematerialization of physical share certificates, rematerialization, consolidation of securities certificate, sub-division/splitting of securities certificate, consolidation of folios, endorsement, change in the name of the holder, change in status from minor to major and resident to NRI and vice versa, claim for undelivered securities certificate, prior to its transfer unclaimed suspense account, claim from unclaimed suspense (demat) account, transmission, and transposition without any hassles. Failing to do so will result in either Suspension or Freezing of the Demat Account.

You’re required to submit the details of KYC, PAN & Nomination to the Registrar and Transfer Agents (RTA) of the particular company.

For instance, Shruthi, a client of FYERS, holds share certificates of Reliance Industries Ltd. and wishes to Dematerialize the same. To initiate the process of Dematerialization, Shruthi has to submit the required details of KYC, PAN & Nomination to the RTA of Reliance Industries Ltd.

If Shruthi holds share certificates of multiple companies, she must submit the details separately for each company.

For more information, please refer to this circular.
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