Thursday, March 13, 2008

PAN copy not required for public issues in India

PAN copy not required for public issues:
Market regulator SEBI has said investors are not required to submit photocopies of their PAN cards in applications for public issues and quoting the PAN number would be sufficient. In a circular issued on Tuesday, SEBI said only PAN number must be quoted in the application form irrespective of the size of the application. SEBI had noticed that, in several public issues, lead managers and others insisted that investors attach photocopies of PAN cards.

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