SEBI introduces facility of electronic instant messaging services for service of notices/orders

NOTIFICATION NO. G.S.R. 919(E) Dated, 31-12-2021

The SEBI has notified amendment to Securities Contracts (Regulation (Procedure for Holding Inquiry and Imposing Penalties Rules, 2000; SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995, Depositories (Procedure for Holding Inquiry and Imposing Penalties) Rules, 2005. Amendment has been made to Regulation 7 of aforementioned norms allowing servicing of notice and order by way of electronic instant messaging services along with email or speed post or courier or registered post.

The norms provide that the courier or speed post or registered post shall be sent to the address of his place of residence or his last known place of residence or the place where he carried on, or last carried on, business or personally works, or last worked, for gain, with acknowledgement due.

In the case where notice is sent by fax, it shall bear a note that the same is being sent by fax and in case the document contains annexure, the number of pages being sent shall also be mentioned.

Also, notice sent through electronic mail or electronic instant messaging services along with electronic mail shall be digitally signed by the competent authority and bouncing of the electronic mail shall not constitute valid service.

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