Markets regulator Sebi has extended the deadline till March 28 for submitting public comments on the proposal to revamp the nominations framework, a move aimed at reducing unclaimed assets in the securities market.
The Securities and Exchange Board of India (Sebi) had placed the consultation paper to revise and revamp nomination facilities for the Indian securities market on its website on February 2 and sought comments by March 8.
Now, it has been decided to extend the timeline for submission of comments to March 28, the Sebi said.
In its consultation paper, the regulator proposed revamping the nominations framework in a move to reduce unclaimed assets in the securities market as well as smoothen the process for claiming the assets by surviving successors of the deceased investors.
Also, it suggested revisions to nomination facilities for securities such as shares, bonds, units of REITs (Real Estate Investment Trusts), InvITs (Infrastructure Investment Trusts), AIFs (Alternative .
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