NSDL News
Increase in the validity period of NCFM Certificate.
The steering committee for NCFM (NSE's Certification in Financial Markets) has increased the validity period of NCFM certificate from three years to five years. Successful candidates who have cleared NCFM Depository Operations module will be issued certificates with a validity period of five years. This benefit will also be extended to successful candidates who have already been issued certificates with a validity period of three years.
Gogia Cap. Com Ltd. joins SPEED-e facility.
Gogia Cap. Com. Ltd. has become the second depository participant to provide facility to its clients to deliver instructions on the Internet through NSDL website SPEED-e (https://eservices.nsdl.com). All clients of Gogia Cap. Com. Ltd. can now avail of the facility by registering themselves for the facility.
Bank Account details on the Dividend and other monetary benefit instruments.
SEBI has advised vide Circular No. D&CC/FITTC/CIR - 04/2001 dated November 13, 2001 that companies should compulsorily print the bank account details of the investors on the dividend and other payment instruments. The depositories will furnish these details to issuers for the beneficiary accounts held with them. Printing of bank account details on a payment instrument will help in preventing its fraudulent encashment.
Companies with overdue demat requests
NSDL has started publishing a list of 100 companies with highest number of pending demat requests beyond 21 days on its website http://www.nsdl.co.in. The list can be accessed under the head "Companies with maximum Overdue Demat requests" on the home-page of the website.
Procedure for change of Share Registrar
NSDL and CDSL have commonly agreed to a procedure for change of Registrar & Transfer Agent (RTA) by the Issuer. The Issuers will have to submit an application in specified format along with a "no objection" letter from existing R & T Agent. The Issuers requesting for change of Registrar will be advised to send the details of balance under NSDL Folio, balance under CDSL Folio, physical shares as per ROM (Register of Members) and the total number of shares issued. The details sent by the Issuer must be certified by either a practising Chartered Accountant or a practising Company Secretary. The information provided to both the depositories should be as on a common date, which should not be prior to seven calendar days from the date of application. After receiving the above information, balances under different folios and the physical holding will be reconciled with issued capital figure provided by the Issuer. The NSDL and CDSL balances communicated by the Issuer will be reconfirmed by the depositories to each other. Mismatch, if any, will be reported back to the depository approached by the Issuer within 2 working days. If the other depository does not revert within the aforesaid period, the information provided will be taken as correct. A fee of Rs. 5,000 will have to be paid by the issuer while executing the agreement with the new R & T Agent and NSDL.
