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Sebi relaxes norms for non-residents to transfer shares to relatives

Updated : February 11, 2019 07:47 PM IST

Under Sebi's LODR (Listing Obligation and Disclosure Requirements) provisions, transferee as well as transferor is required to furnish a copy of their PAN (Permanent Account Number) card to the listed entity for registration of transfer of the securities.
Many of the non-residents like Overseas Citizens of India (OCIs), Non Resident Indians (NRIs), Persons of Indian Origin (PIOs) and foreign nationals were facing difficulties in transferring the shares, as many of them do not posses the required PAN card.
Sebi relaxes norms for non-residents to transfer shares to relatives
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