Relaxations in timelines for compliances by the depository participants/ Registrars to an Issue & Share Transfer Agents

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The Securities Exchange Board of India vide Circular dated June 30, 2020 has provided relaxations in timelines for compliance with various regulatory requirements by the depository participants(DPs) / Registrars to an Issue & Share Transfer Agents in view of the prevailing situation due to COVID-19.

SEBI has provided that for processing of the demat request form by Issuer / RTA, Processing of the demat request form by the Participants, Redressal of investor grievances, Transmission of securities and for Closure of demat account the period of exclusion shall be from March 23, 2020 till July 31, 2020 and 15-day time period after July 31, 2020 is allowed to Depository /DPs, to clear the back log.

The period for submission of half yearly Internal Audit Report (IAR) by DPs for the half year ended on 31st March 2020 shall be 31 July, 2020.

Click here to read the Circular.

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