Sebi sets March 31 as cut-off date for re-lodgement of share transfer requests

By: |
September 7, 2020 6:10 PM

Shares in the Demat form will help in maintaining a transparent record of shareholding at companies amid rising concerns over beneficial ownership of entities.

Shares in the Demat form will help in maintaining a transparent record of shareholding at companies amid rising concerns over beneficial ownership of entities.

Capital markets regulator Sebi on Monday fixed March 31, 2021, as the cut-off date for re-lodgement of share transfer requests. Transfer of securities held in physical mode has been discontinued with effect from April 1, 2019, but investors have not been barred from holding shares in the physical form.

Sebi, in March 2019, had clarified that transfer deeds lodged before the deadline of April 1, 2019, and rejected or returned due to deficiency in the documents may be re-lodged with requisite documents. Now, Securities and Exchange Board of India (Sebi), has “decided to fix March 31, 2021, as the cut-off date for re-lodgement of transfer deeds”, according to a circular.

“Further, the shares that are re-lodged for transfer (including those requests that are pending with the listed company / RTA, as on date) shall henceforth be issued only in Demat mode,” it added. Shares in the Demat form will help in maintaining a transparent record of shareholding at companies amid rising concerns over beneficial ownership of entities.

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