SEBI vide its Circular dated 27th March 2023 issued a Circularfor All Recognized Stock Exchanges, All Recognized Depositories Stock Brokers (Trading Members) through Recognized Stock Exchanges Depository Participants through Depositories.
The circular states :
Earlier SEBI asked all existing eligible holders and demat account holders to provide a choice of nomination on or before March 31st 2022, failing which the trading and demat account would be frozen for debits.
However, SEBI in a circular dated February 24th, 2022, had extended this deadline by one year to March 31st, 2023.
Now, the deadline for existing eligible holders and demat account holders to nominate a beneficiary for their accounts to September 30th, 2023 which is extended by another 6 months.
This circular shall come into force with effect from 27th March , 2023.
Link of the circular: https://www.sebi.gov.in/legal/circulars/mar-2023/nomination-for-eligible-trading-and-demat-accounts-extension-of-timelines-for-existing-account-holders_69391.html