Procedure for Registration of Custodian With SEBI

Priya Gandhi

Priya Gandhi

Published on: Feb 10, 2026

Aakanksha Singhal

Updated on: Feb 11, 2026

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The procedure for registration of a Custodian, with the Securities and Exchange Board of India (SEBI) is primarily governed, by the SEBI (Custodian) Regulations, 1996 read with SEBI Master Circular for Custodians.

Applicable Provisions:

1. Regulation 3, 4, 5, 6, 7, 8, 9 of SEBI (Custodian) Regulations, 2012
2. Para 1 of Master Circular for Custodians

Mandatory Requirements:

1. Applicant must:
   • Maintain a minimum NW of Rs. 75 Crore
   • Be LLP/ Body corporate*
   • Possess adequate office space, secure vaults for assets, and capable computer systems.
2. Directors and key management, must be deemed Fit and Proper and the staff must be adequate and competent.
3. Custodial work is completely separate, from other businesses, to ensure client assets are safe and independent.
4. Abide by Code of Conduct as specified in Third Schedule

Note: An individual, HUF, or AOP cannot be a SEBI-registered custodian.

Procedure:

1. Ensure Meeting Capital Adequacy and Net Worth Requirements:
   Applicant seeking registration as a Custodian, must ensure a minimum NW of Rs. 75 crores, which must be maintained on an ongoing basis throughout the period of registration.
2. Filing of Application:
   Applicant must make an online application, to SEBI, in Form A (Application for Grant of Certificate of Registration), through SEBI Intermediary Portal, along with:
   • Supporting documents mentioned in the First Schedule, and
   • Prescribed non-refundable fee, as specified in Part A (Amount to be Paid as Fees) of the Second Schedule, which must be paid using the method specified in Part B of the same Schedule.

   Note:

   • Weblink for making application: (https://siportal.sebi.gov.in)
   • User Manual for Registration is available at https://siportal.sebi.gov.in/intermediary/index.html
   • Applicants must pay the required fees via direct bank credit through the online SEBI Payment Gateway.

3. Regulatory Authority to Seek Clarifications:
   • SEBI can ask the applicant, to provide extra information or clarification, about anything related to the custodian’s activities while reviewing the application.
   • Such applicant or their representative must attend a meeting with SEBI (if requested), for a personal discussion about the certificate.
4. Grant of Custodian Registration Certificate:
   
   • SEBI will send an official notice (intimation) of its satisfaction, post review of the application and finding the applicant eligible (based on regulations),
   • Upon receiving SEBI’s notice, the applicant must pay the prescribed registration fee.
   • Once the fee is paid, SEBI will issue the final Certificate of Registration in Form B.

Abbreviations Used:

1. LLP: Limited Liability Partnerships
2. NW: Net Worth
3. HUF: Hindu Undivided Families
4. AOP: Association of Persons
5. SEBI: Securities and Exchange Board of India

Important Links:

1. https://www.sebi.gov.in/index.html
2. https://siportal.sebi.gov.in/intermediary/index.html