PAN requirement: demat accounts non-compliant with PAN will be suspended for credits, barring automatic corporate actions. SEBI requires PAN verification for demat accounts and directs that PAN-noncompliant accounts, previously suspended for debit, will also be suspended for credit except for credits from automatic corporate actions; credits from public offers, rights issues, off-market transfers, and secondary market transactions are prohibited. Depositories must amend bye-laws, notify DPs and Beneficial Owners, and disseminate the rule on their websites to enforce KYC compliance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
PAN requirement: demat accounts non-compliant with PAN will be suspended for credits, barring automatic corporate actions.
SEBI requires PAN verification for demat accounts and directs that PAN-noncompliant accounts, previously suspended for debit, will also be suspended for credit except for credits from automatic corporate actions; credits from public offers, rights issues, off-market transfers, and secondary market transactions are prohibited. Depositories must amend bye-laws, notify DPs and Beneficial Owners, and disseminate the rule on their websites to enforce KYC compliance.
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