Mutual fund houses and companies who wish to change their Registrar and Share Transfer Agent, need to furnish and submit an array of certificates to Central Depository Services Private Limited (CDSL) to request a change of RTA. Once submitted, these documents are verified and authenticated by CDSL upon receipt to go ahead with the request to change RTA. When these certificates & documents are duly checked by CDSL, CDSL provides an execution agreement to the issuer company or RTA. The whole process of changing a Registrar & Share Transfer Agent is time as well as effort consuming for companies or mutual fund houses. They need to furnish & submit many attested and accurate documents to CDSL. Mostly, companies are not even aware of these documents. This article provides detailed information about the procedure to change Registrar and Transfer Agent in addition to the mandatory certificates and documents that the companies need to submit to CDSL. The whole process of changing a Registrar & Share Transfer Agent is time as well as effort consuming for companies or mutual fund houses. They need to furnish & submit many attested and accurate documents to CDSL. Mostly, companies are not even aware of these documents.
This article provides detailed information about the procedure to change Registrar and Transfer Agent in addition to the mandatory certificates and documents that the companies need to submit to CDSL. List of Important Documents to be Submitted to CDSL To change Registrar & Share Transfer Agent, an Issuer or company needs to submit the below-mentioned important documents. It should be noted that the certified copies of the documents should be submitted to CDSL. Tripartite Agreement Tripartite Agreement is a legal document that expresses the key duties and obligations of all parties who are a part of the deal. It also explains the terms and conditions which must be adhered to while executing a deal. This legal document must be signed by all the parties playing an important role, i.e., the issuer or the company, the RTA of the issuer, and the CDSL concerned with the process of changing Registrar and Transfer Agent (RTA). To request for the RTA change, a new tripartite agreement properly furnished on an INR 600/- stamp paper is needed from an issuer company. This stamped tripartite agreement should have authorized signatures of RTA and the issuer or company. Document Reflecting Total Application Fee Charged By CDSL A company looking forward to changing registrar and share transfer agent in India need to submit the documents which are reflecting the total amount of fee charged by CDSL and also the outstanding issuer charges (if any). No Objection Certificate (NOC) A NOC is a legal certificate issued by any company, organization, agency, or institute as an indication that it does not object to the details or points quoted in the NOC document signed by it. NOC indicates no objection to the conversant of the certificate. The companies requesting for changing the RTA has to furnish a no-objection certificate (NOC), provided by their present RTA, to CDSL. It should be noted that the NOC document should be in written form on the letterhead of the issuer company’s present Registrar & Transfer Agent. Master Creation Form (MCF) Letter of intent cum Master Creation Form is a form that a company uses to get itself registered as an issuer with CDSL. When a company is registered as an issuer, it is allowed to offer a Demat facility to its stakeholders.
A company longing for the change of RTA must furnish master creation form also to CDSL. The Master Creation Form should be properly stamped and signed by the company signatories holding the authority to sign. Latest Certificates from CA/CS Practicing The Profession The latest certificates from company secretary or chartered accountant practicing the profession It is another set of documents that a company looking for changing the RTA needs to submit to concede the details about the total amount of capital issued to the issuer company, total share certificates in accordance with the register of members, and the annual balance with NSDL and CDSL. A company should submit these CA approved certificates to the CDSL. Discover more by visiting or downloading the PDF (Latest certificate from practicing Company Secretary / Chartered Accountant) Letter of Acceptance/Consent (LOA) The Letter of Acceptance or Consent is a legal agreement that reflects the consent of the new RTA to take all the responsibilities related to the transfer of a share, for the issuer company. The companies seeking RTA change must also submit a Letter of Acceptance (LOA) to the CDSL while requesting the RTA change. Letter of Acceptance must be written form on the letterhead of the company’s newly appointed Registrar Transfer Agent as it is an expression of the approval by him. It should be noted that the Letter of Acceptance is not required in the case of in-house RTA. Declaration Statement Last but not least, a declaration statement is also required to be furnished by the companies who want to change their current RTA. Declaration Statement expresses the company’s willingness to adhere to all the important guidelines and mandatory processes concerned with RTA change. Besides, by submitting a declaration statement to CDSL, a company also expresses its responsibility to manage all the complaints & grievances which may arise at the time of RTA change. Once the above-mentioned documents are submitted in the proper order to CDSL, it is verified by CDSL, followed by the issuance of the executed agreement to the company/RTA and thus RTA change will become effective.
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