PR No.: 49/2018

Dec 03, 2018

Transfer of securities only in demat form- Deadline extended till April 1, 2019

The Board, on March 28, 2018, decided that except in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in the dematerialized form with a depository. This measure was to come into effect from December 5, 2018.

Subsequently, SEBI has received representations from shareholders for extension of the date of compliance. In view of the same, the deadline has been extended and the aforesaid requirement of transfer of securities only in demat form shall now come into force from April 1, 2019.

Transfer of securities in demat form requirement extended after shareholder representations to allow additional time for compliance. Requirement that transfers of securities be effected only in demat form, subject to exceptions for transmission and transposition, was deferred in response to shareholder representations and the compliance deadline for the demat-only transfer mandate has been extended to allow additional time for conversion and processing through depositories.