Non-availability of share holder's PAN for deed transfer prior to 1 December 2015

Transfer of deeds executed prior to the notification of LODR (on 1 December 2015), can now be registered with or without PAN of the transferor, as per the requirements of quoting PAN under the applicable Income Tax Rules.

Mismatch of names

If the name on the PAN does not match the one on the share certificate/transfer deed, the transfer will be registered on submission of any of the four additional documents explaining the difference in names:

1. Copy of passport
2. Copy of a legally recognised marriage certificate
3. Copy of gazette notification regarding the name change
4. Copy of Aadhaar card

Major mismatch or non-availability of transferor's signature

The transferor will be required to update his/her signature by submitting bank attested signature along with an affidavit and cancelled cheque to the RTA/company.

SEBI also noticed that there were instances where the transferor did not make efforts to update the signature as he/she had already received the consideration for the transfer and many of these transferors could not be traced.

The issuers or RTAs were required to make efforts to contact the transferor by tracing any address, phone number or email ID available with the depositories/KRA or checking the dividend history to obtain current contact details from the bank where the last dividend was encashed.