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Nomination for Mutual Fund Unit Holders – Extension of timelines

Securities and Exchange Board of India (“SEBI”) in accordance with the Circular No. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2022/82 dated June 15, 2022, SEBI Circular No. SEBI/HO/IMD/IMD-I DOF1/P/CIR/2022/105 dated July 29, 2022, and SEBI Circular No. SEBI/HO/IMD/IMD-I POD1/P/CIR/2023/47 dated March 28, 2023 has stated the requirements for nomination/ opting out of nomination for all the existing individual unit holder(s) holding mutual fund units either solely or jointly, by September30, 2023, failing which the folios shall be frozen for debits.

SEBI has received representation from several market participants to extend the current deadline and based on that SEBI has decided to that freezing of folios, shall come into force with effect from January 01, 2024 instead of September 30, 2023.

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