Non Submission Of Pan In Ipo

#1
Hello

I Wanted To Know That Will My Apllication Be Rejected For Non Submission Of Pan In Ipo.

My Application Size Is Less Than 50000.
Pls Help Me With This
 

ranj_2k

Active Member
#3
Dear Cool_Cool,

The market regulator, the Securities and Exchange Board of India (SEBI), has made it mandatory from January 1, 2007 for all demat account holders to submit their PAN details for buying or selling shares in both the primary and secondary market. So, even if you have a demat account without PAN details, your account will be frozen till the time you furnish your PAN number and make it active again.
 
#4
Hello

I Wanted To Know That Will My Apllication Be Rejected For Non Submission Of Pan In Ipo.

My Application Size Is Less Than 50000.
Pls Help Me With This
Yes, Submission of PAN along with IPO application been made mandatory now a days even the PAN is updated in Demat account or Not. Demat accounts without PAN are suspended only for debit , even once can apply IPO or receive credit without updating the PAN to the Account. Now after the mandatory is fixed for all IPO applications with PAN Xerox, chance of getting rejected is bright is not attached with PAN Xerox

Regards
SunilMogan
 
#5
i heard that in below 50000 application we dont need to attach pan...as writeen in instuction no 60.
is that true and if not is there any chance of my appplication being not rejected.
my demat ac is properly furnished with all the pan card details and xerox is also given.
pls help
 
#6
i heard that in below 50000 application we dont need to attach pan...as writeen in instuction no 60.
is that true and if not is there any chance of my appplication being not rejected.
my demat ac is properly furnished with all the pan card details and xerox is also given.
pls help
I heared from the BRLM that the PAN Xerox is mandatory for all the applications. Let us await and see the resultant of your application.

Relax and wait for the final result
 
#7
i heard that in below 50000 application we dont need to attach pan...as writeen in instuction no 60.
is that true and if not is there any chance of my appplication being not rejected.
my demat ac is properly furnished with all the pan card details and xerox is also given.
pls help
dear cool_cool

As per IT rules IT PAN is compulsory for 50000 or above , since July this year SEBI has made it mandatory for IPO application to attach IT PAN irrespective of the size of bid , and same is being mentioned on main IPO page under IT PAN column

earlie allotment process were initiated by demat a/c , now same will be initiate by IT PAN , this has been done to avoid bogus demat and duplicate IT PAN in circulation

you may check with your broker with whom IPO app form has been submitted and get the IT PAN copy attached for bid punching

IN absence of IT PAN , I fear application may be rejected

SEBI NOTIFICATION

IT PAN zerox compulsory for all IPO applications

The Bidders, or in the case of a Bid in joint names, each of the Bidders, should mention his/ her Permanent Account Number (PAN) allotted under the I.T. Act. SEBI has issued a circular no. MRD/DoP/Cir-05/2007 dated April 27, 2007 requiring that with effect from July 2, 2007, the PAN would be the sole identification number for participants transacting in the securities market, irrespective of the amount of transaction. In case the PAN has not been allotted, mention “Applied for” or “Not Applicable” in the appropriate places and submit Form 60 or Form 61 as the case may be together with permissible documents as proof of address. Applications without this information and documents will be considered incomplete and are liable to be rejected.

IT PAN is sole Identification for allotment in IPO

"In the earlier process, search for allotment process had been doing through demant accounts but now they will search all PAN numbers and put allotment process forward
 
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