Trading members are hereby informed that the Exchange has received a Circular from SEBI vide Ref. No. CIR/IMD/FPIC/123/2016, dated November 17, 2016 regarding Review of requirement for copy of PAN Card to open accounts of FPIs..The contents of the said circular are reproduced hereunder for information of trading members.

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CIRCULAR

CIR/IMD/FPIC/123/2016 November 17, 2016

To,

1. All Foreign Portfolio Investors ("FPIs") through their Designated Depository Participants ("DDPs")/ Custodian of Securities.

2. The Depositories (NSDL and CDSL)

3. All Recognized Stock Exchanges

4. KYC Registration Agencies (KRAs)

Sir/ Madam,

Subject: Review of requirement for copy of PAN Card to open accounts of FPIs

1. Please refer to SEBI circular no. CIR/MIRSD/01/2013 dated January 04, 2013 and CIR/MIRSD/07/2013 dated September 12, 2013.

2. Based on representations received from stakeholders and to further ease the PAN verification process at the time of account opening of FPIs, it is decided that the intermediaries can verify the PAN of FPIs online from website authorised by Income Tax department at the time of account-opening for FPIs. However, FPIs need to provide the copy of PAN card within 60 days of account-opening or before remitting funds out of India, whichever is earlier to their intermediaries.

3. This circular is issued in exercise of powers conferred under Section 11(1) of the

Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

4. A copy of this circular is available at the links “Legal Framework��Circulars” and

“Info for ��F.P.I” on our website www.sebi.gov.in. The DDPs/Custodians are requested to bring the contents of this circular to the notice of their FPI clients. Yours faithfully,

ACHAL SINGH

Deputy General Manager

Tel No.: 022‐26449619

Email: achals@sebi.gov.in

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Trading Members are requested to take note of the aforesaid guidelines of SEBI and act accordingly.

M.A.V. Raju

General Manager