Home  :  Circulars

NATIONAL SECURITIES DEPOSITORY LIMITED

Participant Interface

Circular

Circular No. NSDL/POLICY/2009/0024
Date: April 1, 2009

Sub :  Discontinuation of sending transaction statements to Clients to whom transaction statements were returned undelivered.

NSDL has been receiving representations from Participants seeking permission for discontinuation of sending Transaction Statements to those Clients to whom Transaction Statements were returned undelivered in the past.

Participants are hereby informed that they may not send Transaction Statements to those clients to whom Transaction Statements were returned undelivered in the past subject to the following conditions:

• Transaction Statements were returned undelivered on three consecutive occasions.

• The Participant maintains proof that the Transaction Statements were returned undelivered.

• The Transaction Statements were returned undelivered for the reasons which clearly establish that the client no longer resides at the given address (i.e. party shifted, etc.) and not for other reasons (i.e. residence/office closed, address incorrect, address incomplete, etc.)

• The Participant informs such clients through alternative means (such as outbound call, SMS or email) that their Transaction Statements are returned undelivered and they need to communicate the proper (new) address.

• The Participant ensures that on receipt of request for address modification from the client as per the stipulated procedure, the dispatch of Transaction Statements is immediately started. Further, the Participant ensures that Transaction Statements that were not delivered and dispatched due to discontinuation are also dispatched immediately without any additional cost to the clients.

For and on behalf of
National Securities Depository Limited

sd/-

Samar Banwat
Vice President