compliance simplified

BASL framework for accreditation of Accredited Investors

Notice No. : 20211130 – 1

Notice Dated : 30/11/2021

Sub. : BSE Administration & Supervision Ltd. (BASL) framework for accreditation of Accredited Investors and facility of verification of BASL registered Accredited Investor certification by Investment Providers.

Attention of market participants is drawn to SEBI circular no. SEBI/HO/IMD-1/DF9/P/CIR/2021/620 dated August 26, 2021 in context to modalities for implementation of the framework for Accredited Investors.

 

SEBI has granted recognition to BSE Administration and Supervision Ltd. (BASL) a wholly owned subsidiary of BSE Ltd. to carry out the activities of to act as an Accreditation Agency under Regulation 2(1)(aa) of SEBI (Alternative Investment Funds) Regulations, 2012 read with SEBI circular SEBI/HO/IMD/IMD-I/DF9/P/CIR/2021/620 dated August 26, 2021 for a period of three years w.e.f. December 01, 2021.

 

In context to aforesaid the Standard Operating Procedure to be followed by BASL for (a) obtaining Accredited Investor Certification by prospective Accredited Investors (AIs) and (b) verification of BASL registered Accredited Investor Certification status by Investment Providers (IPs) is attached.

 

BASL has developed an online portal facility for prospective AIs to apply for accredited investor certification. The online portals is available on BASL website (https://bseasl.com) wherein an option for “Accredited Investor Login” has been provided.

 

The user manual for forwarding applications to BASL on aforesaid portal is attached. Accredited Investors need to follow the process as detailed in the user manual for onward processing by BASL. Applicants are advised to read the user manual carefully before initiating the application / verification facility and all optional/mandatory membership details and self attested documents need to uploaded for onward processing to BASL. Applicants are advised to pre hand have the requisite documents (attached as Annexure -I, the said attachment is an indicative list and applicants may be required to provide additional documents as may be specified by SEBI/BASL from time to time) at time of online.

 

The fees structure for certification of Accredited Investors and verification by Investment Providers shall be as under :

 

BASL Accredited Investor certification charges / fees :

Investor Category

Fees and Charges ( Rs.)*

 

BASL Processing

Charges

BASL Certification Fees

For One Year Tenure

For Two Year Tenure

Individuals, HUFs, Family Trusts and Sole Proprietorships,

Rs. 5,000/-

Rs. 5,000/-

Rs. 9,500/-

Partnership Firms

Rs. 5,000/-

Rs. 10,000/-

Rs. 19,000/-

Trusts (other than family trusts)

Rs. 5000/-

Rs. 15,000/-

Rs. 28,500/-

Body Corporates

Rs. 5000/-

Rs. 15,000/-

Rs. 28,500/-

*plus taxes as applicable. Both Processing and Certification fees need to be paid at the time of submission of application. The Processing charges are non-refundable.

 

BASL Investment Provider confirmation charges of Accredited Investors :

A flat charge of Rs. 500/- plus applicable taxes per confirmation request placed by Investment provider on the BASL module shall be levied. Investment Providers can either opt for said flat fee charge per confirmation request or opt for non-refundable prepaid charges payment as per below slab for obtaining confirmations of accredited investors and replenish the said non- refundable prepaid charges when the same gets exhausted.

 

Sr. No.

No. of Accredited

Investors (AI) slab

BASL pre paid

charges* (Rs.)

01.

Upto 100

48,000/-

02.

Upto 250

1,18,750/-

03.

Upto 500

2,35,000/-

*plus applicable taxes.

 

The relevant payment of fees/charges shall be done by Accredited Investors and Investment Providers vide the respective application module Accredited Investors and Investment Providers are advised to be careful while selecting their “Process Type” and “Fee Type ” field option.

 

In case of any clarification IAs/IPs may email on below mentioned email ids or contact following officials :

 

Email address details :

Applicant Type

Email id to which email be forwarded

Accredited Investors

bseasl.ai@bseasl.com

Investment Providers

bseasl.ip@bseasl.com

Contact details :

Name of Official

Contact No.

Ms. Shraddha Shah

9920848684

Ms. Vidhi Rustagi

9999802957

Ms. Manjiri Nimkar

9867241256

Annexure – I

Indicative list of documents* (self attested) required by prospective accredited investors and investment providers :

 

Accredited Investors

Investment Providers

 

·     Copy of PAN Card.

·     Copy of Aadhaar Card or Copy of Valid Passport.

·     Documents of Incorporation (CIN, TAN,etc)

·     Copy of registered Trust Deed.

·     Copy of GST Certificate

·     Certified copy of Board Resolution to apply for accreditation

·     Copies of Income Tax Return(s) of preceding one or three financial years, depending on desired validity of accreditation

·     Copies of audited Financial Statements of one or three financial years preceding the date of application.

·     Certificate from practicing chartered accountant stating net worth as on March 31 of one or three financial years preceding the date of application (Calculation of Net worth to be given as an Annexure to the certificate.)

·     Audited financial statements prepared by the statutory auditor for the current date/ period (optional)

·     Certificate from practicing chartered accountant stating net worth as on the date of application.(optional) (Calculation of Net worth to be given as an Annexure to the certificate.)

·     Statement of assets and liabilities of the Trust for preceding one year or three years, depending on desired validity of accreditation

·     Proof of ‘ready reckoner rate’ applicable to real estate

assets considered for calculation of net worth.

·     In case of a foreign investor, confirmation that it has not been restricted from accessing securities market by the country of jurisdiction where it resides/incorporated.

·     Copy of demat account statement

·     Any other document as specified by BASL from time to time.

 

·     Copy of PAN Card.

·     Copy of Aadhaar Card or Copy of Valid Passport.

·     Document of Incorporation (CIN, TAN, etc)

·     Copy of GST Certificate

·     SEBI Registration No.

·     Any other document as specified by BASL from time to time.

*requirement of relevant documents based on the entity type of accredited investors.