Guidelines for Transfer of portfolios of clients (PMS business) by Portfolio Managers to another Portfolio Manager

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....ortfolio manager to another, both holding portfolio manager registration and belonging to the same group: 3.1. Portfolio Managers shall have the option to transfer select Investment Approach(es) or complete PMS business to another Portfolio Manager within the same group, subject to the following conditions: 3.1.1. If the entire PMS business is transferred, the certificate of PMS registration of transferor shall be surrendered within a period of 45 working days from the date of completion of transfer. 3.1.2. In case of transfer of only select Investment Approach (es), the transferor may continue to hold certificate of PMS registration. 4. Transfer of PMS business from one portfolio manager to another portfolio manager not belonging to th....

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....der Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with Regulation 43 of SEBI (Portfolio Managers) Regulations, 2020, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, Vir Sahab Singh General Manager 022-26449285 [email protected]   Annexure-I Undertaking to be submitted by the transferee On the letter head of the applicant We the directors / partners of XYZ Limited / LLP, a registered Portfolio Manager bearing Registration Number ____, having its registered office at Address, --------hereby confirm and undertake that we shall be liable for the acts, deeds, pending actions/ litigations, other obligat....