While applying for Rights Shares, when I try paying from my own account I'm getting an error "3rd party validation failed". What could be the reason?
The error could pop up because of reasons like incorrect registered name, incomplete name in the bank record, etc. The best way to resolve this issue is to check directly with the RTA(Registrar and Transfer Agent).
To know more about Rights Issue, get the SEBI FAQs here, NSE FAQs here and BSE FAQs here.
Registrar and Transfer Agents (RTA) are SEBI-registered entities that provide services related to share registry maintenance and share Transfer activities on behalf of companies that have issued shares to the public.
The functions of RTAs are as follows:
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Collecting the applications from investors in respect of any issue.
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Keeping a proper record of the applications and money from investors or that which is paid to the seller of the securities
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Assisting the corporate body:
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To determine the the basis of allotment of securities/shares in consultation with the stock exchange
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Finalizing the list of persons entitled to the allotment
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Processing and despatching the allotment letters, refund orders or certificates, and other related documents w.r.t an issue.
The details of the RTA’s of a company can be found on NSE & BSE.
For NSE
- Visit nseindia.com
- Search for the company
- Click on Corporate Information
- Click on Company Directory
- Then Transfer Agent Details.
For BSE
- Visit bseindia.co
- Search for the company
- Click on Corporate Information
- And scroll down to find the registrar’s details.