Redact promoters’ Aadhaar info from docs: Sebi to investment banks

The markets regulator has requested funding banks to redact Aadhaar particulars of promoters from a whole bunch of supply paperwork filed by corporations with Securities and Alternate Board of India (Sebi) and exchanges. The transfer comes after Aadhaar governing physique UIDAI pulled up the market regulator for the publication of such confidential data in publicly obtainable paperwork in contravention of the Aadhaar Act, stated three individuals within the know.

Sources stated some promoters had reached out to authorities authorities, expressing considerations over misuse of their Aadhaar particulars as these supply paperwork have been publicly obtainable on Sebi and change’s websites.

Final month, Sebi issued a letter to the service provider banking business physique Affiliation of Funding Bankers of India (AIBI), asking service provider banks to behave upon the request of UIDAI and to redact Aadhaar particulars of promoters from supply paperwork and to offer revised paperwork to Sebi and inventory exchanges.

“Sebi is in receipt of a letter dated January 19, 2023 from Distinctive Identification Authority of India, ministry of electronics and data expertise requesting to redact the Aadhaar particulars of the promoters that have been revealed in DRHP, RHP and Prospectus and uploaded on the web site of exchanges and SEBI between November 10, 2018 and January 14 , 2022 as the identical is in contravention of Aadhaar Act 2016 Regulation,” stated the the letter despatched by AIBI to service provider banks, a duplicate of which ET has reviewed.

Sebi has given a deadline of March 31 to AIBI and its members to execute the Adhaar redaction.