SEBI has clarified the following regarding the transfer of securities held in Physical mode
1. Investor may continue to hold the shares in physical form even after April 1, 2019. However any investors who wants to transfer the shares (which are held in physical form) after April 1, 2019 can do so only after the shares are dematerialised.
2 The Transfer deed(s) lodged prior to deadline and returned due to deficiency in the document, may be relodged for transfer even after April 1, 2019.
3. Investors can continue to demat their physical shares, transmission (i.e transfer of title of shares by way of inheritence/succession) and transposition (i.e. rearrangement/interchanging of the order of name of shareholders) in physical shares even after April 1, 2019.
(REF CIR NO NSDL/POLICY/2019/0019 DT. APRIL 1, 2019)
1. Investor may continue to hold the shares in physical form even after April 1, 2019. However any investors who wants to transfer the shares (which are held in physical form) after April 1, 2019 can do so only after the shares are dematerialised.
2 The Transfer deed(s) lodged prior to deadline and returned due to deficiency in the document, may be relodged for transfer even after April 1, 2019.
3. Investors can continue to demat their physical shares, transmission (i.e transfer of title of shares by way of inheritence/succession) and transposition (i.e. rearrangement/interchanging of the order of name of shareholders) in physical shares even after April 1, 2019.
(REF CIR NO NSDL/POLICY/2019/0019 DT. APRIL 1, 2019)
Great post with very practical insights. I enjoyed reading it and found it helpful. Keep the great content coming!
ReplyDeletetransmission of shares