Now shares can be transferred, inherited only in demat form
- You continue to hold your physical shares even after 1 April. However it can not be sold, transferred in physical form
- To sell and transfer, you will have to convert it into demat form. In case of transmission or transposition of securities, physical shares are valid
Mumbai: If your grandmother or your mother has physical shares, she needs to know that if she wants to transfer her shares to anyone it will first have to be converted into a demat form. According to a circular from the Securities and Exchange Board of India (Sebi), apart from transmission or transposition of securities, requests for effecting transfer of securities will not be processed unless the securities are held in dematerialised or demat form with a depository effective 1 April. Transmission means transfer of title of shares by way of inheritance and succession, while transposition means re-arrangement or interchanging of the order of name of shareholders.
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