SEBI cancels plan to freeze demat accounts and mutual fund folios due to lack of nominations.
SEBI has scrapped its decision to freeze demat accounts and mutual fund folios for lack of nominations. Existing investors' accounts will not be frozen for not submitting nomination details. Security holders can receive dividend, interest, or redemption payments, lodge grievances, or avail any service request, even without submitting nomination details. Payments withheld by listed companies and RTAs due to lack of nomination details will also be processed accordingly.
June 10, 2024
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