Securities and Exchange Board (Sebi) of India announced on March 27 that the deadline for trading and demat account holders to nominate or opt out of nomination had been extended from March 31 to September 30.

Sebi had previously asked all eligible transaction and demat account holders to select a nomination option by March 31. Failure to do so will result in freezing the trading and debiting the demat account.

The regulator overseeing the market is also urging stockbrokers and depository participants to remind their clients to update their “choice of nomination” by sending out text and email reminders every fortnight.

Investors who have previously submitted nomination details are not obligated to submit them again. However, those who have not yet submitted their nomination details and wish to submit or opt out of the nomination process may be able to do so.

Investors can use two-factor authentication to submit or withdraw nominations on a trading platform provided by a stockbroker or custodian participant. Details previously required, such as mobile number, email ID and identity details of the nominee or guardian of the minor nominee, are now optional. A statement form signed by the account holder is still required.

Nomination or declaration forms can also be completed online using the electronic signature tool and do not require a witness signature unless the account holder uses a thumb impression instead of a signature.