The decision that transfer of shares has to be compulsorily in demat form was taken back in March 2018
Transfer deeds once lodged prior to deadline and returned due to deficiency in the document may be re-lodged for transfer even after the 1 April deadline
NEW DELHI :
Sebi on Wednesday said transfer of shares of listed companies can be done only in the dematerialised form from 1 April but investors are not barred from holding shares in the physical form.
In December 2018, the watchdog extended the deadline for transfer of shares of listed companies only in dematerialised (demat) form to 1 April.
Transfer deeds once lodged prior to deadline and returned due to deficiency in the document may be re-lodged for transfer even after the 1 April deadline.
The decision "is not applicable for demat of shares, transmission (i.e. transfer of title of shares by way of inheritance/ succession) and transposition (i.e. re-arrangement/ interchanging of the order of name of shareholders) cases," the release said.
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Never miss a story! Stay connected and informed with Mint.
our App Now!!