Rules For LEI Service

2.3 Applicant

The individual or representative submitting an LEI application, renewal, update, or transfer request on behalf of the Legal Entity.

2.4 Authorized Representative

A person authorized to act on behalf of the Legal Entity for LEI-related matters, including Directors, Officers, Employees, Client Agents, or those holding a Power of Attorney or Authorization Letter.

2.5 Board

Refers to the Board of Directors of LEI International Pvt. Ltd., responsible for governance, oversight, and rule approval within TNV-LEI.

2.6 Business Registry

The official registry or government authority where the Legal Entity is incorporated or registered. The registry provides essential data for LEI validation.

2.7 Challenge

A formal request submitted by any person or organization to correct inaccurate, outdated, or duplicated LEI data (Legal Entity Reference Data – LE-RD).

2.8 Client Agent

A third-party individual or firm authorized to manage LEI applications and renewals on behalf of multiple Legal Entities, upon submission of valid authorization.

2.9 Delta File

A daily file published by TNV-LEI containing all changes (new, modified, or retired LEIs) since the last publication of the full file.

2.10 Full File

A comprehensive file published by TNV-LEI containing all active and historical LEI records issued or managed by TNV-LEI as of the date of publication.

2.11 GLEIF

The Global Legal Entity Identifier Foundation – the organization responsible for oversight and operational integrity of the Global Legal Entity Identifier System (GLEIS), headquartered in Basel, Switzerland.

2.12 GLEIS

The Global Legal Entity Identifier System, comprising GLEIF, Local Operating Units (LOUs), Registration Authorities, and End Users.

2.13 Inactive

An LEI status indicating that the Legal Entity has ceased operations, dissolved, merged, or no longer meets registration criteria.

2.14 ISO 17442

The international standard defining the structure and governance framework of Legal Entity Identifiers (LEIs), issued by the International Organization for Standardization.

2.15 LAPSED

The LEI status applied when the Legal Entity has failed to complete its annual renewal and re-validation by the designated renewal deadline.

2.16 LEI (Legal Entity Identifier)

A unique 20-character alphanumeric code assigned to a Legal Entity in accordance with ISO 17442 and issued by an accredited LOU.

2.17 LE-RD (Legal Entity Reference Data)

Structured data elements published with an LEI, including the Legal Entity’s name, address, legal form, registration details, and relationship information.

2.18 Legal Entity

Any organization eligible to obtain an LEI, including companies, partnerships, trusts, government bodies, and other legal or regulatory-recognized entities.

2.19 Local Operating Unit (LOU)

An organization accredited by GLEIF to issue and manage LEIs in compliance with the GLEIF Master Agreement and ISO standards.

2.20 Master Agreement

The contract executed between GLEIF and an accredited LOU, establishing the terms of LEI issuance, maintenance, and cooperation within GLEIS.

2.21 Power of Attorney (PoA) / Authorization Letter

A formal written authorization granted by a Legal Entity permitting an individual or organization to act on its behalf for LEI services.

2.22 Regulatory Oversight Committee (ROC)

A committee of public authorities that provides governance and high-level oversight for the Global LEI System, including guidance on policy matters.

2.23 Retired

An LEI status indicating that the Legal Entity has permanently ceased operation and the LEI is no longer active or renewable.

2.24 Subscription-Based LEI

A multi-year LEI service model where automatic renewal is scheduled on a yearly basis until the service is cancelled or the entity is no longer eligible.

2.25 Transfer

The movement of an LEI record from one LOU to another as per the Global LEI System’s portability policy.

Part 3: Introduction and Scope

3.1 Introduction

The Legal Entity Identifier (LEI) is a 20-character, alpha-numeric code that uniquely identifies Legal Entities participating in financial transactions and regulatory reporting across jurisdictions. The LEI system is governed globally by the Global Legal Entity Identifier Foundation (GLEIF) and implemented locally by accredited Local Operating Units (LOUs) under the framework defined by ISO 17442.

LEI International Private Limited (hereinafter referred to as “TNV-LEI”) is a GLEIF-recognized Local Operating Unit authorized to issue, renew, transfer, update, and manage LEIs. TNV-LEI operates in accordance with the GLEIF Master Agreement, GLEIS operational principles, and relevant regulatory guidelines.

These Rules are established to define the structure, responsibilities, procedures, rights, and obligations associated with the lifecycle of LEIs managed by TNV-LEI.

3.2 Objective

The objective of these Rules is to:

• Provide a clear, transparent, and legally enforceable framework for LEI registration and management;

• Set forth the requirements and obligations of Legal Entities and their Authorized Representatives;

• Define the rights, powers, and duties of TNV-LEI in the context of LEI operations;

• Ensure compliance with ISO 17442, GLEIF guidelines, and applicable international and Indian laws;

• Support transparency, accuracy, and integrity in the global financial ecosystem through validated and standardized entity identification.

3.3 Scope of Applicability

These Rules shall apply to Legal Entities and their representatives interacting with TNV-LEI for any LEI-related services, and are further classified as follows:

3.3.1 Domestic Legal Entities (India)

These Rules are fully applicable to:

• All Indian Legal Entities seeking LEI issuance, renewal, update, or transfer through TNV-LEI,

• Authorized individuals applying on behalf of such entities under valid Power of Attorney, Board Resolution, or other formal authorization,

• Indian Client Agents or Corporate Representatives managing LEIs for one or more Indian companies,

• Users of bulk-upload features or API-based submissions registered within India.

3.3.2 Group Companies and Corporate Representatives

TNV-LEI may permit the following under controlled conditions:

• Corporate Representatives acting on behalf of multiple Legal Entities within a single corporate group (e.g., holding companies, subsidiaries, sister concerns), provided:

• Proper authorization from each represented entity is submitted,

• The representative is a full-time employee or official of the group (not an external agent),

• Group registrations are allowed using bulk upload options or managed dashboards assigned by TNV-LEI after verification.

3.3.3 International or Foreign Entities

At present, TNV-LEI does not accept LEI applications from entities incorporated or registered outside India.

• Applications from foreign entities shall be automatically rejected unless TNV-LEI publicly notifies commencement of operations or authorization in such jurisdictions.

• Any exceptions or partnerships for international LEI operations will be governed by separate agreements and officially published policies.

Part 4: Role of TNV-LEI and Board Authority

4.1 TNV-LEI as Local Operating Unit (LOU)

LEI International Private Limited (TNV-LEI) functions as a Local Operating Unit (LOU) within the Global Legal Entity Identifier System (GLEIS), under the oversight of the Global Legal Entity Identifier Foundation (GLEIF) and in accordance with the standards defined in ISO 17442.

TNV-LEI is responsible for:

• Issuing Legal Entity Identifiers (LEIs) to eligible entities,

• Verifying and maintaining Legal Entity Reference Data (LE-RD),

• Processing LEI renewals, transfers, and modifications,

• Publishing full and delta LEI data files as per GLEIF protocol,

• Ensuring ongoing compliance with data quality, security, and validation standards,

• Supporting transparency and integrity in legal entity identification across financial systems.

4.2 Authority of the Board of Directors

The Board of Directors of TNV-LEI (hereinafter referred to as “the Board”) holds the ultimate authority to define, approve, and enforce the strategic, operational, and compliance framework for LEI services.

The Board shall have the power to:

1. Formulate and amend rules governing LEI issuance, renewal, and lifecycle operations;

2. Appoint committees or designate executive officers for the management and oversight of LEI-related services;

3. Approve policies related to client eligibility, verification standards, validation procedures, fees, and data disclosure;

4. Ensure compliance with GLEIF Master Agreement and applicable legal, regulatory, and information security requirements;

5. Monitor and review operational performance related to data quality, audit outcomes, complaint resolution, and challenge handling;

6. Authorize strategic expansions, including cross-border LEI operations (subject to regulatory approval);

7. Delegate any of the above responsibilities to a duly constituted LEI Governance Committee, Compliance Officer, or Managing Director, as deemed necessary.

4.3 Delegated Roles and Oversight

The Board may delegate limited authority to:

• Chief Executive Officer (CEO) or Managing Director, for day-to-day operations;

• Compliance Officer, for managing legal, regulatory, and GLEIF-specific obligations;

• Validation and Verification Teams, for reviewing applications and maintaining LE-RD accuracy;

• Information Security Officer, for ensuring secure handling of user and entity data;

• LEI Governance Committee, for ensuring impartiality and operational fairness in issuance and challenge decisions.

Such delegated roles shall operate under the direction of the Board and shall submit periodic reports for review.

4.4 Rule Amendment and Publication

• Any additions, deletions, or modifications to these Rules shall be subject to the approval of the Board.

• Approved amendments shall be published on the official TNV-LEI website and, where applicable, communicated to Legal Entities and Client Agents via email or platform notification.

• Amendments shall take effect either immediately or after a specified notice period, unless otherwise mandated by regulatory or GLEIF requirements.

Part 5: General Conditions and Legal Applicability

5.1 Binding Nature of These Rules

These Rules constitute a binding agreement between LEI International Pvt. Ltd. (TNV-LEI) and:

• Any Legal Entity applying for an LEI or managing an existing LEI through TNV-LEI,

• Its Authorized Representative, Client Agent, or Corporate Representative,

• Any third party submitting a challenge, dispute, or data update request to TNV-LEI.

By accessing TNV-LEI’s LEI services via the online portal or authorized communication channels, the Legal Entity or its Representative is deemed to have read, understood, and accepted these Rules in full. Continued use of TNV-LEI services implies ongoing acceptance of any updates or amendments made to these Rules.

5.2 Governing Standards and Compliance Framework

TNV-LEI performs its duties in compliance with:

• ISO 17442 (Legal Entity Identifier Standard),

• The GLEIF Master Agreement,

• GLEIS Governance Principles, as published by GLEIF and ROC,

• Indian laws and regulations, including but not limited to the Companies Act, DPDP Act 2023, and applicable IT and financial regulations.

In case of any conflict between these Rules and the provisions of ISO 17442 or GLEIF policies, the latter shall prevail.

5.3 Acceptance of Terms by Action

The Legal Entity or its Representative:

• Acknowledges that submitting an application, renewal, update, or transfer request constitutes implied acceptance of these Rules,

• Confirms that any LEI-related activity carried out using the TNV-LEI platform or services is done in good faith and in accordance with these Rules.

5.4 Limitations and Exclusions

TNV-LEI shall not be responsible for:

• The accuracy of information submitted by Legal Entities or their Agents,

• Delays or rejections caused by insufficient documentation, false declarations, or registry discrepancies,

• Any third-party reliance on LE-RD unless such reliance is in accordance with GLEIF’s public domain principles (CC0 license),

• Legal, financial, or commercial decisions made by third parties based solely on LEI data published by TNV-LEI.

5.5 Enforcement and Legal Jurisdiction

• These Rules shall be governed by and construed in accordance with the laws of India.

• Any dispute arising from or in connection with the interpretation or enforcement of these Rules shall fall under the exclusive jurisdiction of the Courts at Lucknow, Uttar Pradesh, India.

Optional arbitration may be offered as a first means of dispute resolution, subject to mutual consent of the parties, in accordance with the Arbitration and Conciliation Act, 1996 (as amended).

Part 6: Eligibility Criteria for LEI Registration

6.1 Eligible Legal Entities

TNV-LEI shall issue Legal Entity Identifiers (LEIs) only to entities that qualify as Legal Entities under the ISO 17442 standard and GLEIF guidance. The following types of organizations are eligible to apply for an LEI through TNV-LEI:

1. Companies incorporated under the Companies Act (Private, Public, One-Person Companies)

2. Partnership Firms, registered under Indian law

3. Sole Proprietorships, with valid business registration

4. Trusts, including charitable and private trusts (with verifiable registration and governing documents)

5. Government Bodies, including ministries, departments, PSUs

6. Statutory Authorities and Regulatory Institutions

7. Societies and NGOs, registered under relevant state/central acts

8. Limited Liability Partnerships (LLPs)

9. Mutual Benefit Societies, Co-operative Societies, and similar bodies

10. Other legally incorporated or constituted bodies recognized under Indian law

6.2 Documentation Requirements

Each Legal Entity must submit valid documentation to establish:

• Legal existence and incorporation (e.g., Certificate of Incorporation, Registration Deed)

• Business registry details, such as CIN, PAN, or GSTIN

• Registered address and contact information

• Authorization documents, if the application is submitted by an agent or representative (Power of Attorney, Board Resolution, or Authority Letter)

TNV-LEI reserves the right to call for additional documentation in cases involving:

• Non-standard legal forms,

• Uncommon ownership structures,

• Dormant or newly established entities,

• Cases where information cannot be verified through public registries.

6.3 LEI Uniqueness Requirement

As per the GLEIF mandate:

• A Legal Entity is entitled to hold only one LEI globally.

• The applicant must declare that the entity has not already been issued an LEI by any other LOU and is not in the process of obtaining another LEI from any other source.

If an existing LEI is found during validation, the application may be converted into a transfer or renewal request, as appropriate.

6.4 Multi-Year and Subscription Eligibility

All eligible Legal Entities may:

• Opt for multi-year LEI registration (2, 3, or 5 years) at the time of initial application or renewal,

• Enroll under auto-renewal subscription model, where LEIs are renewed annually subject to re-validation.

Entities applying through Client Agents or Corporate Representatives must ensure that the authorization is specific, valid, and traceable.

6.5 Restrictions and Disqualifications

TNV-LEI shall not issue LEIs under the following conditions:

• Entities not legally incorporated or recognized in India,

• Foreign entities, unless TNV-LEI formally announces international LEI operations in that jurisdiction,

• Applications with incomplete or unverifiable information,

• Cases where an LEI for the same entity already exists in the GLEIF database and is not being transferred appropriately,

• Blacklist or fraud history, either reported by GLEIF, regulators, or judicial authorities.

Part 7: LEI Application Process and Account Access

7.1 Application Channels

Applications for LEI issuance, renewal, modification, or transfer may be initiated through any of the following channels:

• Directly by the Legal Entity through TNV-LEI’s official portal at www.tnvlei.com,

• Through an Authorized Representative, supported by valid Power of Attorney or equivalent authority,

• Via a Client Agent, managing applications for multiple entities,

• Through a Corporate Representative, for group companies operating under a common control or management.

7.2 Account Creation and Login Access

Every Legal Entity or its Representative must create an account on TNV-LEI’s online portal in order to:

• Submit LEI applications,

• Upload required documents,

• Track application status,

• Renew or transfer LEIs,

• Download invoices, certificates, or data files.

Upon successful account creation:

• Secure login credentials will be generated and shared via email,

• User roles will be assigned (Legal Entity, Agent, or Corporate Representative),

• Role-based access to LEI data will be enabled based on authorization and entity association.

Users are responsible for:

• Maintaining the confidentiality of login credentials,

• Ensuring that no unauthorized person gains access to the portal,

• Immediately notifying TNV-LEI of any suspected misuse or compromise.

7.3 Step-by-Step LEI Application Process

1. User Registration

The Legal Entity or Agent creates a user account and selects the required service (new LEI, renewal, transfer, or update).

2. Form Submission

The online application form is completed with Legal Entity Reference Data (LE-RD), such as:

• Legal name,
• Registered address,
• Business registry details (CIN, PAN, etc.),
• Legal form and jurisdiction,
• Parent/subsidiary relationship (if applicable).

3. Document Upload

Mandatory and supporting documents are uploaded, including:

• Certificate of Incorporation or Business License,
• PAN or GST (as applicable),
• Authorization documents (PoA, Board Resolution),
• Address proof (if required for verification),
• Relationship proof (for Level 2 data, where applicable).

4. Payment Processing

The user selects a plan (1-year, multi-year, or subscription) and makes payment via the integrated payment gateway (Razorpay, HDFC Bank, UPI, etc.).

5. Acknowledgment and Case Creation

TNV-LEI acknowledges receipt of application and assigns a unique tracking number for future correspondence.

6. Validation and Verification

TNV-LEI’s validation team reviews the application, cross-verifies the data with public registries, and may raise queries if clarification or additional documentation is needed.

7. LEI Issuance

Upon successful validation, the LEI is:

• Issued to the Legal Entity,
• Registered in the GLEIF database,
• Published in the daily FULL and DELTA files,
• Notified to the user by email and portal message.

8. Certificate and Access

A downloadable LEI Certificate is made available in the user dashboard, along with the LE-RD summary.

7.4 Responsibility of the Applicant

The applicant (Legal Entity or its representative) shall:

• Submit only true, complete, and verifiable information,

• Ensure the uniqueness of the LEI (no duplication),

• Respond promptly to TNV-LEI’s queries,

• Use TNV-LEI’s services only for valid and lawful purposes.

Failure to comply with the above may result in application rejection, or future blacklisting.

Part 8: LEI Issuance and Validation Process

8.1 Overview

The issuance of a Legal Entity Identifier (LEI) by TNV-LEI is subject to a two-stage process:

1. Application Intake and Documentation Verification, and

2. Validation of Legal Entity Reference Data (LE-RD) in accordance with ISO 17442 and GLEIF policies.

The issuance process is designed to ensure the accuracy, uniqueness, and traceability of the Legal Entity across the global financial ecosystem.

8.2 Timelines for LEI Issuance

TNV-LEI aims to process standard LEI applications within:

• 1–3 business days for complete and verifiable submissions,

• Up to 5 business days in cases requiring complex validation, registry delays, or additional documentation.

Applications are processed chronologically, based on payment confirmation and completeness of submission.

8.3 Validation Process by TNV-LEI

Upon receiving a complete application, TNV-LEI performs the following steps:

a) Document Check

• Ensures all required documents (incorporation proof, PoA, address proof, etc.) are uploaded and legible.

• Cross-checks authorization for representatives or agents.

b) Registry Verification

• Matches LE-RD with government or official business registry records (e.g., MCA portal, LLP portal, Income Tax records).

• Confirms entity’s legal status, registration number, jurisdiction, and name match.

c) LEI Uniqueness Check

• Searches the GLEIF database to ensure the entity does not already have an LEI.

• In case of existing LEI, the application may be paused and converted to transfer or renewal after consent.

d) Relationship Data Validation (if applicable)

• Verifies declared parent–child relationships based on ownership structure and accounting consolidation rules.

• Confirms if the entity is exempt from declaring such relationships and records the reason (as per Level 2 data policy).

8.4 Result of Validation

After successful validation:

• A new LEI code is generated (20-character alphanumeric),

• The LEI is registered in the GLEIF Global LEI System (GLEIS),

• The LE-RD is published in both the FULL and DELTA files of TNV-LEI.

A formal issuance notification is sent via email, and the LEI certificate is made available for download from the user dashboard.

8.5 Data Publication and Accessibility

LEI issuance includes public availability of the following:

• Legal name and registered address of the entity,

• Jurisdiction of incorporation,

• Date of initial LEI issuance,

• Last update date and next renewal date,

• Status (ISSUED, LAPSED, RETIRED, etc.),

• Related LEIs, if relationship data is reported.

All such data is made accessible under the Creative Commons Zero (CC0) license, in compliance with GLEIF standards.

8.6 Grounds for Rejection or Delay

TNV-LEI reserves the right to reject or delay LEI issuance under the following circumstances:

• Incomplete or incorrect documentation,

• Conflict of LE-RD with official registry data,

• Evidence of duplicate application or LEI misuse,

• Suspicion of fraud or misrepresentation,

• Non-payment of fees within the required timeframe.

Such cases shall be notified to the applicant with clarification requests or rejection rationale.

Part 9: LEI Data Modification and Update

9.1 Obligation to Maintain Accurate LE-RD

Every Legal Entity holding an LEI is responsible for ensuring that its Legal Entity Reference Data (LE-RD) remains accurate, complete, and current at all times. Any material change to the entity’s legal status, registration, or structure must be reported to TNV-LEI without undue delay.

9.2 Events Requiring LE-RD Update

An LE-RD modification request must be submitted if any of the following occur:

• Change in legal name or legal form of the entity

• Change in registered or head office address

• Change in business registration number, registration authority, or jurisdiction

• Change in parent/subsidiary relationships (Level 2 data)

• Dissolution, merger, demerger, or other corporate restructuring

• Conversion from one business entity type to another (e.g., LLP to Pvt Ltd)

9.3 Process for Submitting Updates

1. Login: The Legal Entity or its authorized representative logs in to the TNV-LEI portal using assigned credentials.

2. Select Update Option: Navigate to “Modify LEI Data” or equivalent dashboard option.

3. Enter Updated Data: Input the revised LE-RD values and upload supporting documentation (e.g., MCA master data, board resolution, registry confirmation).

4. Review & Submit: Confirm the changes and submit the update request. No payment is required for data modifications.

5. Acknowledgment: A unique case reference number is issued upon submission.

6. Support: For any clarification, help, please contact Support.

9.4 Validation and Acceptance

Upon receipt of a modification request:

• TNV-LEI will verify the authenticity of the updated information against public registries,

• Additional documentation may be requested for clarification,

• The request will be approved or rejected with appropriate remarks.

If approved:

• The LE-RD will be updated in the TNV-LEI database and GLEIF registry,

• The “Last Updated Date” on the LEI record will be modified accordingly,

• The update will be reflected in the next day’s FULL and DELTA files.

9.5 Internal Modification by TNV-LEI

TNV-LEI reserves the right to update or correct LE-RD records without prior notice, under the following conditions:

• Outcome of a valid challenge submission,

• Directive issued by GLEIF,

• Discovery of inconsistencies during internal audits or registry reviews,

• Update required to maintain data quality thresholds mandated by GLEIF.

In such cases, TNV-LEI will notify the Legal Entity and provide an audit trail of the update.

9.6 Failure to Update LE-RD

Failure to update LE-RD in a timely manner may result in:

• Incorrect public representation of the Legal Entity,

• Regulatory non-compliance for the Legal Entity,

• Lapsing of the LEI,

• Rejection of the LEI by reporting entities, financial institutions, or regulators.

TNV-LEI shall not be held liable for any consequences arising from outdated or inaccurate data not corrected by the Legal Entity.

Part 10: LEI Renewal and Validity Management

10.1 Validity of LEI

Each Legal Entity Identifier (LEI) issued by TNV-LEI is valid for one (1) year from the date of issuance or last renewal, unless otherwise stated in a multi-year or subscription-based agreement.

At the end of the validity period, the LEI must be renewed to retain its “ISSUED” status and remain compliant for financial reporting and regulatory purposes.

10.2 Renewal Requirement

It is the responsibility of the Legal Entity or its Authorized Representative to initiate renewal on or before the next renewal date, as published in the LE-RD.

Failure to renew an LEI by the renewal due date will result in the LEI status being changed to:

• LAPSED – if Legal Entity fails to renew within renewal period.

• RETIRED – if the Legal Entity has ceased operations and a valid dissolution or merger is confirmed.

Lapsed LEIs remain visible in the GLEIF database but are considered non-compliant for regulatory use.

10.3 Renewal Options

TNV-LEI offers the following renewal pathways:

a) Annual Renewal

• Standard one-year renewal requiring full re-validation of LE-RD.

b) Multi-Year Renewal Packages

• 2-year, 3-year, or 5-year plans available at discounted rates.

• Requires annual re-validation, but payment is collected in advance.

• Renewal reminders are sent proactively before each re-validation cycle.

c) Subscription Renewal

• Auto-renewal model where LEI is renewed each year until cancelled by the entity.

• Annual validation and payment are conducted via auto-debit or reminder-triggered payment.

• Entities may cancel subscription with at least 60 days’ notice prior to next renewal.

10.4 Renewal Process

1. Login to the Portal

The Legal Entity or Agent accesses their TNV-LEI account and selects the LEI(s) for renewal.

2. Review and Confirm LE-RD

The system prompts the user to confirm or update the Legal Entity Reference Data.

3. Submit Required Documents (if any)

Supporting documents may be requested in case of:

• Material changes in entity data,
• Lapsed LEI restoration,
• High-risk flags or audit trails.

4. Payment

The renewal fee is paid using online payment options.

5. Validation and Approval

TNV-LEI re-validates the LE-RD against official registries and approves the renewal.

6. Renewal Confirmation

The renewed LEI retains the same 20-character code. Only the “Next Renewal Date” and “Last Update Date” are changed.

10.5 Reinstatement of Lapsed LEIs

A Lapsed LEI can be reinstated by:

• Logging into the portal and initiating a renewal,

• Submitting the necessary updated documents,

• Completing re-validation and payment.

Upon successful reinstatement:

• The status changes from “LAPSED” to “ISSUED”,

• The original LEI code and record history are preserved.

10.6 Non-Renewal Consequences

If a Legal Entity fails to renew its LEI:

• The LEI becomes inactive or expired for reporting purposes,

• The entity may face regulatory or financial compliance issues,

• TNV-LEI may flag the record for additional investigation or challenge.

Renewals cannot be backdated, and no refund will be issued for unused validity or missed deadlines.

Part 11: Challenge Resolution Mechanism

11.1 Purpose of the Challenge Mechanism

The Challenge Mechanism allows any stakeholder—including regulatory authorities, market participants, or the general public—to raise a formal objection or request correction to the Legal Entity Reference Data (LE-RD) associated with an LEI issued or maintained by TNV-LEI.

This mechanism ensures that:

• LEI data remains accurate, current, and verifiable,

• The Global LEI System (GLEIS) operates with transparency and accountability.

11.2 Who May Submit a Challenge

A Challenge may be submitted by:

• The Legal Entity itself,

• An Authorized Representative or Client Agent,

• A third-party stakeholder, such as a regulator, financial institution, auditor, or member of the public.

TNV-LEI accepts both internal and external challenges related to LEIs under its management.

11.3 Grounds for Raising a Challenge

Valid grounds for submitting a Challenge include (but are not limited to):

• Incorrect legal name, address, or legal form,

• Outdated or invalid registration number or jurisdiction,

• Incorrect relationship data (parent/subsidiary links),

• Entity status inconsistencies (e.g., marked as active despite dissolution),

• Discovery of a duplicate LEI,

• Unauthorized or fraudulent issuance of an LEI.

11.4 How to Submit a Challenge

Challenges must be submitted by email to: challenge@tnvlei.com

The challenge email must include:

• The LEI code in question,

• The specific data fields being disputed,

• Supporting evidence such as official registry links, public documents, legal correspondence, or validated third-party records,

• Name and contact information of the challenger.

Optionally, challenges may be submitted through the GLEIF Challenge Portal, which will be routed to TNV-LEI if the LEI is managed by us.

11.5 Processing of Challenge Requests

Upon receipt of a challenge:

1. TNV-LEI shall issue an acknowledgment within 1 business day.

2. The validation team shall review the challenge within 10 business days.

3. TNV-LEI will:

• Accept the challenge and update the LE-RD if found valid, or

• Reject the challenge with an explanation if found unsubstantiated.

In case of valid correction:

• The Legal Entity will be informed and prompted to confirm or provide updated documents.

• TNV-LEI will perform the update and publish the revised LE-RD.

11.6 Non-Response by Legal Entity

If a challenge is validated but the Legal Entity:

• Fails to respond within the designated time, or

• Refuses to update despite evidence,

TNV-LEI may proceed to update the LEI record unilaterally, based on verified public sources, and notify the entity accordingly.

Such action shall be documented and audit-trailed.

11.7 Evidence Requirement and Rejection Criteria

TNV-LEI may request the challenger to submit reasonable evidence supporting their claim. If:

• The evidence is not provided,

• The source is unverifiable or unclear,

• The challenge appears to be motivated by malice or lacks credibility,

TNV-LEI reserves the right to dismiss the challenge with documented justification.

11.8 Appeal or Escalation

If a challenger disagrees with the resolution:

• They may submit additional evidence for reconsideration, or

• Refer the matter to GLEIF for independent review as per the global challenge escalation framework.

11.9 Confidentiality and Documentation

• All challenge communications shall be treated as confidential and logged in TNV-LEI’s internal systems.

• Records shall be retained for a minimum of 8 years in compliance with GLEIF and Indian regulatory requirements.

Part 12: Portability – Transfer In and Transfer Out

12.1 Principle of LEI Portability

As per the rules of the Global Legal Entity Identifier System (GLEIS) and GLEIF policy, every Legal Entity has the right to transfer its LEI between accredited Local Operating Units (LOUs) without restriction or discrimination.

TNV-LEI fully supports and facilitates both inbound (Transfer-In) and outbound (Transfer-Out) requests in accordance with the GLEIF Master Agreement and Transfer Policy.

12.2 Conditions for Transfer Eligibility

A Legal Entity may request to transfer its LEI if:

• It wishes to change its LOU for operational, financial, or strategic reasons;

• Its existing LOU is no longer accredited or functional;

• It consolidates LEI management under a preferred service provider (e.g., Client Agent or Corporate Representative).

Transfers are permitted only if the LEI is in “ISSUED” or “LAPSED” status. LEIs marked “RETIRED”, “ANNULLED”, or “DUPLICATE” are not transferable.

12.3 Transfer-In to TNV-LEI (Receiving LEI from Another LOU)

To initiate an inbound transfer, the Legal Entity or its Authorized Representative must:

1. Submit a transfer request through the TNV-LEI portal or email.

2. Provide supporting documentation, including:

• A signed Letter of Intent (LOI) to transfer,

• Authorization document (PoA, Board Resolution, or Authority Letter),

• Any pending update or renewal forms, if applicable.

Upon verification:

• TNV-LEI will initiate coordination with the sending LOU,

• Validate the LE-RD,

• Publish the LEI under TNV-LEI management in the GLEIS database.

Part 13: Events Affecting LEI Status (Merger, Closure, etc.)

13.1 Overview

Certain events in the lifecycle of a Legal Entity may necessitate changes to the LEI status or Legal Entity Reference Data (LE-RD). TNV-LEI monitors and manages such changes in accordance with GLEIF policy, ISO 17442, and relevant public records.

The primary events affecting LEI status include:

• Merger, Acquisition, or Demerger

• Dissolution or Closure

• Conversion of legal form

• Insolvency, Liquidation, or Strike-off

13.2 Notification Requirement

Legal Entities are required to immediately notify TNV-LEI in case of any material corporate event that affects the legal status, identity, or structure of the entity, including:

• Mergers and amalgamations (with or without new legal entity formation),

• Business closure, voluntary or involuntary dissolution,

• Entity absorption or split,

• Demerger into multiple legal entities,

• Change in ownership impacting relationship data.

Failure to report such events may result in lapse, or forced status update based on public records.

13.3 Processing Corporate Actions

Upon receipt of notification or public detection of a corporate event, TNV-LEI shall:

1. Verify the event using available public or registry records.

2. Request supporting documents, including:

• Merger/Amalgamation Order,

• Closure Certificate,

• Dissolution Deed or Legal Gazette notification,

• New incorporation certificate (if applicable),

• Board Resolution or Affidavit (where required).

3. Update the LEI record with:

• Status change (e.g., RETIRED, LAPSED),

• Relationship to a surviving entity (via LEI linkage),

• Effective date and reason for the change.

All changes are published in the GLEIF system and reflected in TNV-LEI’s FULL and DELTA files.

13.4 Rules for Mergers and Amalgamations

• The LEI of the absorbed entity will be marked as RETIRED.

• The surviving or new entity must apply for a new LEI (if not already issued).

• TNV-LEI will record the relationship in the successor/predecessor fields where applicable.

13.5 Entity Closure or Dissolution

If a Legal Entity ceases to operate due to:

• Strike-off from the registry,

• Voluntary closure or liquidation,

• Expiration of its term (for temporary entities),

TNV-LEI shall:

• Mark the LEI as RETIRED after verifying dissolution documents or registry updates,

• Retain the LE-RD and status history for public access.

The Legal Entity or its representative should not use the LEI once it is marked as retired.

13.6 Unreported Events Detected by TNV-LEI

TNV-LEI may, through routine monitoring or public registry checks:

• Detect closure, merger, or restructuring,

• Contact the Legal Entity for confirmation and documentation.

If the Legal Entity fails to respond within the specified time:

• TNV-LEI may proceed with a suo motu update of the LEI status,

• The action will be recorded and communicated with rationale.

13.7 Disclaimer and Limitation

TNV-LEI shall not be held liable for:

• Legal or financial implications arising from outdated or undisclosed corporate events,

• Delay or omission by the Legal Entity in notifying or responding,

• Misuse of LEI post-closure or post-merger by any third party.

The obligation to report, verify, and update lies solely with the Legal Entity and its Authorized Representative.

Part 14: Payment, Fees, and Refunds

14.1 Fee Structure

TNV-LEI charges service fees for LEI-related activities in accordance with its approved pricing schedule, which is published on the official portal: www.tnvlei.com.

The applicable fees include:

All fees are exclusive of GST and applicable payment gateway charges.

14.2 Payment Methods

Accepted payment methods include:

• Razorpay

• HDFC Payment Gateway

• UPI

• Other modes as listed on www.tnvlei.com

An auto-generated invoice and receipt will be provided upon successful payment. TNV-LEI does not accept cash or offline payment modes unless explicitly agreed in writing.

14.3 Multi-Year and Subscription Model

a) Multi-Year Plans

• Legal Entities may opt for 2-year, 3-year, or 5-year plans.

• Annual validation is still required but no additional fee is collected during the term.

• Example:

• 3-Year Plan: ₹4,000 (Year 1) + ₹3,000 × 2 = ₹10,000

b) Top-Up Model

• Entities with valid LEIs may top up validity up to 5 years by paying ₹3,000 per additional year.

• The new expiry date is extended from the current expiry date, not from the payment date.

c) Subscription-Based Renewal

• Auto-renewed annually at ₹4,000/year unless cancelled 60 days before renewal.

• Requires valid payment method on file or timely manual renewal.

14.4 Refund Policy

TNV-LEI maintains a strict non-refundable policy except in specific cases outlined below:

Refunds, where applicable, are processed within 10 business days to the original payment method.

14.5 Fee Modification and Communication

TNV-LEI reserves the right to revise its fee schedule in response to:

• Changes in GLEIF contribution charges,

• Regulatory updates, tax changes, or inflationary adjustments,

• System upgrades or enhancement of service levels.

Any revisions shall:

• Be published on www.tnvlei.com,

• Apply prospectively to new or renewing applications,

• Not affect existing multi-year or subscription contracts retroactively.

14.6 Legal Entity Responsibility

It is the Legal Entity’s responsibility to:

• Ensure timely payment,

• Verify the selected plan before checkout,

• Maintain sufficient balance or credit (for agents and corporate clients),

• Cooperate with TNV-LEI in case of billing disputes, if any.

Part 15: Rights and Obligations of the Parties

15.1 Responsibilities of TNV-LEI

TNV-LEI, as a GLEIF-accredited Local Operating Unit, shall:

1. Issue, renew, modify, transfer, suspend, or retire LEIs in accordance with ISO 17442 and GLEIF operational policies.

2. Maintain a secure and functioning online portal for application management, communication, and data publishing.

3. Ensure that LEI records are accurate, current, and publicly available, with daily publication of FULL and DELTA files.

4. Respond to applications, updates, and challenges within defined service timelines.

5. Provide technical and compliance support via email and ticket-based communication.

6. Preserve confidentiality of documents submitted and ensure GDPR/DPDP Act compliance for personal data.

7. Conduct validation only from authoritative sources (registries, statutory filings, etc.) and not make subjective decisions.

15.2 Rights of TNV-LEI

TNV-LEI reserves the right to:

1. Reject, suspend, or lapse LEIs in case of non-compliance, non-renewal, or data inaccuracy.

2. Refuse service to entities involved in fraud, misrepresentation, or abuse of LEI data.

3. Modify these Rules and notify users via the website or email, with such changes taking effect immediately unless stated otherwise.

4. Enforce data correction actions based on challenge outcomes, GLEIF directives, or verified public records.

5. Suspend user access to the portal in the event of security threats, repeated violations, or unauthorized activity.

6. Initiate legal action, including claiming damages, in case of willful harm, brand misuse, or violation of TNV-LEI policies.

15.3 Responsibilities of the Legal Entity

The Legal Entity (or its Authorized Representative) agrees to:

1. Submit truthful, complete, and accurate information during all LEI-related transactions.

2. Maintain the accuracy of LE-RD and notify TNV-LEI of any changes, including name, status, address, or relationships.

3. Initiate renewal or update of the LEI before its expiry.

4. Ensure that no duplicate LEI is sought or held from other LOUs.

5. Cooperate in validation processes by providing authentic and verifiable documents.

6. Accept that LEI data is published in the public domain and cannot be restricted or deleted after issuance.

15.4 Rights of the Legal Entity

The Legal Entity shall have the right to:

1. Access, review, and manage its LEI(s) via the secure portal.

2. Transfer its LEI to another LOU at any time without penalty.

3. Dispute or challenge published LE-RD if incorrect, through the defined challenge process.

4. Submit a request for update, renewal, or reinstatement at its discretion.

5. Receive support from TNV-LEI through designated contact channels, including status updates and formal communication.

15.5 Mutual Obligations

Both parties agree to:

• Operate in good faith, with respect to all applicable legal, regulatory, and technical requirements,

• Abide by the governing law and dispute resolution clauses stated in these Rules,

• Take reasonable efforts to prevent misuse, miscommunication, or misrepresentation in the LEI lifecycle,

• Retain audit trails, documents, and records for the duration required under GLEIF and Indian compliance frameworks.

Part 16: Website Use, Data Access, and System Connectivity

16.1 TNV-LEI Online Portal

TNV-LEI provides all LEI services through its official website www.tnvlei.com, which acts as the digital interface for:

• New LEI applications

• Renewal and transfer requests

• LE-RD modifications and challenge submissions

• Payment processing and invoice downloads

• Access to full and delta LEI data files

• User login, dashboard management, and automated notifications

The portal is designed to offer a secure, reliable, and user-friendly experience, accessible 24x7 subject to scheduled maintenance or unavoidable downtimes.

16.2 Access to LEI Data

In accordance with the GLEIF Open Data Policy and the Creative Commons Zero (CC0 1.0) license, TNV-LEI:

• Publishes daily FULL and DELTA files containing LEIs and corresponding Legal Entity Reference Data (LE-RD),

• Allows free lookup, download, and reuse of LE-RD by the public,

• Does not require attribution, licensing, or payment for reuse of published LEI data.

Users may not:

• Claim any proprietary rights over public LEI data,

• Alter the integrity of the data when redistributing,

• Use TNV-LEI or GLEIF names/logos to imply endorsement without consent.

16.3 API and System Integration

TNV-LEI supports secure API access (available to approved users) for:

• Bulk application and renewal submission,

• Real-time LE-RD query,

• Client Agent or Corporate Representative integration.

API access is governed by terms of use, authentication protocols, and may be subject to request approval and throttling limitations.

16.4 User Conduct and Restrictions

Users of the TNV-LEI portal agree to:

• Access only authorized sections using legitimate credentials,

• Refrain from uploading malware, unauthorized scripts, or harmful code,

• Avoid reverse engineering, bypassing security layers, or data scraping,

• Use the platform only for lawful and intended LEI lifecycle operations.

Violation of these terms may result, legal action, or reporting to relevant authorities.

16.5 Service Level and Interruptions

While TNV-LEI aims to maintain high availability, the portal may be interrupted due to:

• Scheduled maintenance and upgrades (notified in advance),

• Technical issues with hosting providers, ISPs, or payment gateways,

• Force majeure events such as cyberattacks, natural disasters, or regulatory interventions.

In such cases, TNV-LEI shall:

• Resume service promptly upon resolution,

• Provide service window notifications where feasible,

• Not be held liable for business loss, delay, or downstream impact caused by such outages.

16.6 Modification of Website Terms

TNV-LEI reserves the right to:

• Update the website’s terms of use, design, or service structure at any time,

• Introduce new features, tools, or restrictions based on evolving needs or security practices.

Such changes will be effective upon publication on the website and shall apply to all existing and new users.

Part 17: Data Publication, Use, and Privacy Provisions

17.1 Public Nature of LEI Data

TNV-LEI operates under the open data principles established by GLEIF, whereby all Legal Entity Identifiers (LEIs) and associated Legal Entity Reference Data (LE-RD) are considered public domain information.

Accordingly:

• LE-RD is published via FULL and DELTA files daily on www.tnvlei.com,

• All data is released under the Creative Commons Zero (CC0 1.0) license,

• No individual or organization may claim intellectual property or exclusive rights over LEI data.

17.2 Use of Published Data

Users of the data (including regulators, financial institutions, researchers, and the public) are permitted to:

• Download, copy, share, and republish LEI and LE-RD content,

• Use the data for commercial, regulatory, academic, or analytical purposes,

• Integrate LEI data into platforms, tools, or internal databases without limitation.

However, users are strictly prohibited from:

• Misrepresenting the origin or authority of the data,

• Creating misleading impressions of endorsement by TNV-LEI or GLEIF,

• Altering LEI records without disclosing that changes were made post-publication.

17.3 Privacy and Confidentiality

While LEI and LE-RD are public, TNV-LEI also collects non-public personal and organizational data, such as:

• Contact details of Authorized Representatives,

• Email addresses and phone numbers,

• KYC documentation,

• Payment details (excluding full card or account numbers).

This non-public information is protected under:

• The Digital Personal Data Protection Act (DPDP Act), 2023 (India),

• The General Data Protection Regulation (GDPR), where applicable,

• Other relevant international and local data privacy frameworks.

17.4 Data Protection Measures

TNV-LEI implements appropriate technical and organizational measures to safeguard all data, including:

• SSL encryption for all portal communication,

• Role-based access controls and two-factor authentication,

• Regular backups and audit logging,

• Secure document handling and payment gateway integration.

17.5 Data Sharing and Disclosure

TNV-LEI may share collected data only with:

• GLEIF, for inclusion in the global LEI system,

• Regulatory authorities or enforcement agencies, upon valid legal request,

• Third-party service providers (e.g., hosting, payment, or IT support) under binding confidentiality agreements.

No personal data is shared with marketers, advertisers, or external databases.

17.6 Data Retention and Consent

• LEI-related records are retained for a minimum of 8 years from the last activity date.

• Personal data is retained only for the duration necessary for the service or as mandated by law.

• By using TNV-LEI services, users consent to the processing, publication, and sharing of data as outlined in these Rules and TNV-LEI’s Privacy Policy.

17.7 Rights of the Data Subject

Authorized users and Legal Entities have the right to:

• Request access or correction of stored personal information,

• Withdraw consent where applicable, without retroactive effect,

• Request deletion of personal data, subject to statutory limitations,

• Lodge a complaint with the Compliance Officer or designated data protection contact.

Requests must be submitted in writing via email to privacy@tnvlei.com and will be responded to within 30 days.

Part 18: Limitation of Liability and Legal Disclaimers

18.1 No Warranty or Endorsement

TNV-LEI issues Legal Entity Identifiers (LEIs) solely for the purpose of unique entity identification, as prescribed under ISO 17442 and the GLEIF framework.

TNV-LEI does not perform KYC, nor does it:

• Certify the financial health, legal standing, or creditworthiness of any Legal Entity,

• Endorse any transaction, business relationship, or third-party reliance based on the LEI,

• Provide any legal, investment, or regulatory advice.

Users of the LEI or related data are advised to perform their own due diligence before entering into any business or regulatory engagement with the Legal Entity holding the LEI.

18.2 Limitation of Liability

To the maximum extent permitted under applicable law, TNV-LEI, its directors, officers, employees, and authorized agents shall not be liable for:

• Errors or omissions in LE-RD submitted by Legal Entities,

• Delay, or rejection of LEI applications due to documentation or validation issues,

• Misuse of login credentials by clients or agents,

• Unavailability of the portal or services due to technical, operational, or force majeure conditions,

• Disputes between a Legal Entity and third parties based on published LEI data,

• Regulatory or commercial penalties incurred due to non-renewed or lapsed LEIs.

In any circumstance, TNV-LEI’s total liability shall be strictly limited to the amount of service fee paid by the Legal Entity for the specific LEI transaction in question.

18.3 Indemnification

The Legal Entity agrees to indemnify, defend, and hold harmless TNV-LEI from any claims, damages, losses, or penalties arising from:

• Submission of false, forged, or misleading documents,

• Violation of these Rules or misuse of LEI services,

• Unauthorized or fraudulent use of LEI data,

• Any act or omission by its Authorized Representative, Client Agent, or Corporate Representative.

TNV-LEI reserves the right to recover legal costs, if incurred, for defending such claims.

18.4 Force Majeure

TNV-LEI shall not be held liable for failure or delay in the performance of its obligations due to circumstances beyond its reasonable control, including but not limited to:

• Natural disasters, pandemics, or public emergencies,

• Cyberattacks or internet outages,

• Regulatory embargoes, court orders, or legal injunctions,

• Technical breakdowns in infrastructure not operated by TNV-LEI (e.g., registries, payment processors, DNS).

During such periods, affected services shall be considered suspended without breach, and efforts shall be made to resume normal operations as soon as reasonably practicable.

18.5 Legal Interpretation

These Rules shall be interpreted in accordance with:

• Indian Law, and

• The GLEIF framework governing LEI services.

Any clause deemed invalid or unenforceable shall be severed, and the remainder of the Rules shall remain in full effect.

Part 19: Jurisdiction, Dispute Resolution, and Arbitration

19.1 Governing Law

These Rules, and all agreements or obligations arising from the use of TNV-LEI’s LEI services, shall be governed by and construed in accordance with the laws of India, without regard to conflict of laws principles.

Where cross-border elements or international transactions are involved, the interpretation of the Rules shall also take into account:

• Applicable principles of international contract and commercial law,

• The operational policies and governance standards of GLEIF and ISO 17442.

19.2 Exclusive Jurisdiction

All disputes, claims, or controversies arising out of or in connection with:

• LEI issuance, renewal, transfer, update, or termination,

• Access to or use of the TNV-LEI portal,

• Interpretation or enforcement of these Rules,

shall fall under the exclusive jurisdiction of the competent courts at Lucknow, Uttar Pradesh, India.

The Legal Entity and TNV-LEI irrevocably waive any objections to the venue, jurisdiction, or forum based on inconvenience or otherwise.

19.3 Optional Arbitration (Pre-Litigation)

In the interest of avoiding litigation, TNV-LEI encourages the resolution of disputes through good-faith negotiation or, if mutually agreed, arbitration.

a) Arbitration Terms

• The dispute may be referred to a sole arbitrator, jointly nominated by both parties.

• The proceedings shall be governed by the Arbitration and Conciliation Act, 1996, as amended.

• The language of arbitration shall be English.

• The seat and venue of arbitration shall be Lucknow, India.

• The decision of the arbitrator shall be final and binding on both parties.

• Costs shall be borne equally unless otherwise awarded.

b) Pre-Arbitration Mediation (Optional)

Parties may choose to attempt mediation or formal negotiation before invoking arbitration.

19.4 Legal Notices and Communication

All legal notices related to disputes, breach, or termination under these Rules shall be:

• Delivered via email to support@tnvlei.com or challenge@tnvlei.com (as applicable), and

• Deemed served upon successful transmission unless a delivery failure report is received.

Notices to Legal Entities shall be sent to:

• The email address registered with TNV-LEI, or

• The official correspondence address of the Legal Entity, if email is unresponsive.

19.5 Survival of Dispute Provisions

The provisions under this Part shall survive:

• Termination or expiry of any LEI service agreement,

• Transfer or closure of the LEI,

• Change in representation or client-agent relationship.

Part 20: Miscellaneous and Administrative Provisions

20.1 Entire Agreement

These Rules, along with TNV-LEI’s published Terms and Conditions, Privacy Policy, Pricing Schedule, and any additional annexures or signed agreements, constitute the entire agreement between TNV-LEI and the Legal Entity with respect to LEI services. They supersede all prior verbal or written representations, understandings, or communications.

20.2 Amendments and Updates

TNV-LEI reserves the right to revise, amend, or update these Rules at any time in response to:

• Changes in GLEIF policies or ISO standards,

• Regulatory developments or statutory requirements,

• Operational improvements or risk management needs.

Any such updates shall be:

• Published on the official website www.tnvlei.com,

• Effective immediately or as stated in the notice,

• Deemed accepted by continued use of TNV-LEI services.

20.3 Severability

If any provision of these Rules is declared invalid, unlawful, or unenforceable by a competent authority or court:

• Such provision shall be deemed severed,

• The remainder of the Rules shall remain in full force and effect,

• A valid substitute provision shall be introduced to reflect the original intent as closely as possible.

20.4 Waiver

The failure of TNV-LEI to enforce any right or clause under these Rules shall not constitute a waiver of that right. Any waiver must be:

• Expressly stated in writing, and

• Specific to the instance and condition waived.

20.5 Assignment and Transfer

• The Legal Entity may not assign or transfer any rights or obligations arising under these Rules without prior written approval of TNV-LEI.

• TNV-LEI may assign its rights and obligations to a successor entity, affiliate, or regulated service provider, subject to GLEIF compliance and applicable laws.

20.6 Language and Interpretation

These Rules are drafted in English, which shall be the authoritative version for all purposes. Any translated versions published by TNV-LEI are for reference only. In case of conflict or ambiguity, the English version shall prevail.

20.7 Document Hierarchy

In the event of any inconsistency or conflict among TNV-LEI documents, the following order of precedence shall apply:

1. GLEIF Policies and ISO 17442

2. Rules for LEI Registration and Management (this document)

3. Terms and Conditions

4. Privacy Policy / Pricing Schedule

5. User communications or agreements

20.8 Document Control and Version

• These Rules are subject to periodic review and will carry a version number and effective date.

• A revision log shall be maintained internally for audit and compliance purposes.

• Superseded versions will be archived in accordance with TNV-LEI’s document retention policy.