Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) has issued a reminder to shareholders holding shares in physical form to update their Know Your Customer (KYC) details. This is in compliance with SEBI regulations, which mandate the submission of PAN, bank account details, email ID, and mobile number for all transactions. Failure to comply may impact dividend payments and investor service requests, with an electronic payment mandate in effect from April 1, 2024.
Mandatory KYC Update for Physical Shareholders
Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) is reminding its shareholders who hold shares in physical form about the critical need to update their Know Your Customer (KYC) details. This directive is in line with SEBI’s Master Circular, which mandates the submission of essential personal and financial information for all securities holders. The update aims to enhance security and streamline investor services.
Key Information Required for KYC
Shareholders are required to furnish details including their Permanent Account Number (PAN), updated contact information (address with PIN code, email ID, and mobile number), and bank account details. While email ID and nomination are optional, they are highly recommended for accessing online services and ensuring personal interests are protected. The company has emphasized that these updates are crucial for the seamless processing of investor requests.
Impact on Investor Services
As per the SEBI mandate, physical shareholders who have not updated their PAN, contact details, and bank account information will face restrictions. Specifically, they will be unable to lodge grievances or avail any investor service requests until their KYC details are furnished. Furthermore, all payments, including dividends and interest, will only be processed through electronic mode starting from April 1, 2024, for folios lacking complete KYC information.
How to Update KYC Details
Shareholders can update their KYC details through multiple channels. They can visit the Company’s Registrar and Transfer Agent (RTA), KFin Technologies Limited, in person for verification, submit self-attested hard copies of documents via post, or send e-signed documents electronically. The necessary forms for updating KYC are available on the GNFC website and the RTA’s portal. GNFC encourages shareholders to complete these formalities at the earliest to avoid any disruption in services.
Source: BSE
