SEBI mandates nomination for Eligible Trading and Demat Account for new and existing account holders
Section 73 of Companies Act, 2013 provides for nomination by a holder of securities. SEBI has issued guidelines for nomination for Eligible Trading and Demat Account. Investors opening new trading and or demat account(s) on or after October 01, 2021, shall have the choice of providing nomination or opting out nomination.
The both nomination and Opt out of nomination shall be done in prescribed formats
It has been mandated that Trading Members and Depository Participants (intermediaries) shall activate new Trading and Demat accounts from October 01, 2021, only upon receipt of nomination forms.
The nomination and Declaration form shall be wet signed by the account holder(s) and no witness shall be required except for account holder(s) affixing thumb impression.
The on-line nomination and Declaration form may also be signed using e-Sign facility and in that case witness will not be required.
All existing eligible trading and demat account holders are required to provide nomination on or before March 31, 2022, failing which the trading accounts shall be frozen for trading and demat account shall be frozen for debits.
State Bank of India in its General Meeting of the Shareholders elected four Directors to the Central Board. The meeting…
Voluntary declaration of additional income by increasing WIP was not proper, as assessee will take the additional benefit in the…
Cash payment for purchase of land or property cannot be treated as violation of provisions of section 269SS or 269T…
Income Tax Department has released excel Utility for e-filing ITR-1 and ITR-4 for AY 2026-27 Excel utilities of ITR-1 and…
Amount of money received as Mediclaim not deductible from an award passed by MACT under the head of medical expenses.…
Location of the assessing officer who passed the order shall decide the jurisdiction of the Bench of the Tribunal In…