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SEBI has vide its Circular No. SEBI/MIRSD/Cir.No. 02/2010 dated January 18, 2010 clarified that 'in-person' verifi cation done for opening Benefi cial Owners account by a Participant will hold good for opening trading account by a stock broker and vice versa, if the stock broker and Participant is the same entity or if one of them is the holding or subsidiary company of the other..

This has been informed to Participants vide Circular No. NSDL/POLICY/2010/0009 dated January 19, 2010.

Based on the directive received from SEBI, the process of transmission has been implifi ed. Now there is no need to submit Letter of Surety in case of transmission of securities upon death of sole holder without nomination where the market value of the securities held in each account of the deceased as on the date of application for transmission does not exceed Rs. 1,00,000. Further, an additional option of providing Family Settlement Deed is provided as an alternate to No Objection Certifi cate from all legal heir(s) who do not object to such transmission. The amended rule provides as under:

If the legal heir(s) or the legal representative(s) express inability to produce a copy of succession certifi cate or order of a court where the deceased has not left a will or a copy of the probate or letter of administration, and the market value of the securities held in each of the account of the deceased as on the date of application for transmission does not exceed Rs. 1,00,000 then the Participant shall process the transmission request on the basis of the following documents:

• Request for transmission in Annexure O;
• Copy of the death certifi cate duly attested by a Notary Public or by a Gazetted Offi cer;
• Letter of Indemnity made on appropriate non judicial stamp paper;
• An Affi davit made on appropriate non judicial stamp paper; and
• No Objection Certifi cate(s) from all the legal heir(s) who do not object to such transmission.
• As an alternate to No Objection Certificate from all legal heir(s) who do not object to

such transmission specifi ed at 12.6.2.3 (v), a copy of Family Settlement Deed duly attested by a Notary Public or by a Gazetted Offi cer provided that the Family Settlement Deed clearly vest the securities in favour of the person seeking transmission in his/her name and vesting of securities in his/her name is not contingent upon any other onerous conditions in such Family Settlement Deed.

Provided further that if the division of securities as per the Family Settlement Deed is amongst more than one person, then Family Settlement Deed can be considered as an agreement amongst the legal heirs for transmission of securities to each legal heir applying for transmission.

This has been informed to Participants vide Circular No. NSDL/POLICY/2010/0004 dated January 11,2010.

NSDL had earlier advised its Participants to capture the ten digit mobile numbers given by their clients starting with "9" as the fi rst digit. Considering that mobile companies have started allotting mobile numbers with "8" also as the fi rst digit, Participants have been informed that they can now capture in the DPM system ten digit mobile numbers starting with "8" also as the fi rst digit.

This has been informed to Participants vide Circular No. NSDL/POLICY/2010/0010 dated January 28,2010.

DIRECT (Direct Ideas REgistration of Client accounT) facilitates registration of depository accounts activated under the Individual category i.e. Resident-Ordinary, Resident-HUF, NRI-Repatriable,NRI-NonRepatriable and Foreign National-FN for IDeAS facility directly at NSDL. The period for de-registration of User IDs of account holders registered through DIRECT has been reduced from 60 days to 30 days. As a result, the User IDs of the account holders who do not login to the IDeAS facility within the specifi ed period (i.e.,30 days) of sending the email from NSDL will be de-registered. In such case, the account holders will have to opt for usual method of IDeAS registration.
This has been informed to Participants vide Circular No. NSDL/POLICY/2010/0012 dated February 3, 2010.

NSDL conducts training and certifi cation programmes for Participants to increase the availability of trained personnel for depository operations. In January 2010, such programmes were conducted in Ahmedabad, Amritsar, Bangalore, Chandigarh, Chennai, Hyderabad, Indore, Jaipur, Jammu, Lucknow,Madurai, Mumbai, New Delhi, Patna, Srinagar and Tirupati.

In January 2010, SBI Custodial Services Private Limited (DP ID IN303786) was made operational as a Participant of NSDL. It will conduct its depository operations from Mumbai. This takes the total number of operational Participants to 286 and the total number of DPM set-ups to 361.