Documents Companies Need to Furnish Along With The Application to Change Their RTA Services

There is a queue of formalities if a company or a mutual fund house goes for changing its Registrar and Share Transfer Agent (RTA) Services but it’s worth it if switching to the convenient option.

In the first place, the company or the mutual fund house concerned with the change of Registrar and Transfer Agent Services has to present the required certificates to Central Depository Services Private Limited (CDSL) with a request letter to change the RTA services.

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Documents thus received by the CDSL will be verified for authenticity. Once the complete verification is done, the execution agreement is extended by CDSL to the applicant company/ RTA (Registrar & Share Transfer Agent) by CDSL.

Well, the process takes quite a number of days to finish and requires proper yet genuine documents by the applicant. Else there are chances of rejection.

So here is the list of documents companies cannot afford to miss if they are submitting a request to CDSL for change of Registrar & Transfer Agent Services:

1. Tripartite Agreement – Duly signed by the applicant company, RTA and CDSL, the documents consist of the major roles, responsibilities and obligations of all the three groups. Written on the stamp paper of Rs. 600, this legal document is presented by the company to CDSL authenticated by its signature along with the sign of concerned RTA.

2. No Objection Certificate – Another legal document presented by the company to CDSL is NOC. A company obtains this document from the current RTA services and is signed by the companies declaring that they have no objections related to the details mentioned in the NOC. Companies are obliged with furnishing NOC issued by Registrar and Transfer Agent to the CDSL. NOC needs to be written on the letterhead of the current RTA of the company.

3. Master Creation Form (MCF) – Master Creation Form also known as Intent Form allows companies to register as the issuer on CDSL the benefit of which is that the registered companies can offer Demat facilities to its stakeholders. Companies by submitting this form to CDSL can also receive an International Securities Identification Number/s (ISIN/s). Along with the request letter to change the Registrar and Share Transfer Agent, companies need to furnish this master creation form signed and authorized by them.

4. Letter of Acceptance or Consent (LOA) – Letter of Acceptance is another mandatory document that needs to be submitted by the companies to CDSL. LOA has to be written on the letterhead of the new RTA Service provider to whom the RTA duties are assigned. LOA is the agreement signed by the new RTA services provider declaring that they are ready to carry on with the RTA activities of the issuer company.

5. Declaration Statement – Lastly, the companies who want to change their RTA services need to present to CDSL the Declaration Statement. Stated in the document is that the company is ready to comply with the necessary guidelines and procedures of RTA change. By signing the statement, the company also declares that it is their responsibility to tackle all the grievances arising in the middle of the RTA changing process.