The Securities and Exchange Board of India (SEBI) issued a circular postponing the implementation of Phase III of its “Revise and Revamp Nomination Facilities in the Indian Securities Market” framework, deferring the deadline from 15 December 2025 to a further date to be notified separately. The deferment applies to market participants including mutual fund asset management companies and their registrars and transfer agents, the Association of Mutual Funds in India, depositories and depository participants. The extension follows representations requesting re-examination of the structural implications of the circular and additional time for system development and process changes, after operational difficulties were raised by depositories, depository participants and industry associations. The nomination framework was originally issued on 10 January 2025 and moved to a phased implementation approach, with previous extensions setting Phase II for 8 August 2025 and Phase III for 15 December 2025. The deferment takes effect immediately, while all other provisions of the 10 January, 28 February and 30 July 2025 circulars remain unchanged pending SEBI’s separate notification of the revised Phase III implementation date.
Securities & Exchange Board of India 2025-12-11
Securities and Exchange Board of India defers Phase III rollout of revamped nomination facilities beyond 15 December 2025
SEBI has postponed Phase III of its "Revise and Revamp Nomination Facilities in the Indian Securities Market" framework, originally set for 15 December 2025, to a date yet to be announced. This follows requests for re-examination of structural implications and more time for system development due to operational challenges. The deferment is effective immediately, with all other provisions of previous circulars unchanged.