SAU-9 | Listed Shares held in physical form cannot be transferred – Deadline Extended
Earlier, SEBI had decided that listed securities held in physical form shall not be transferred with effect from December 5, 2018. Subsequently, it received representations from shareholders for extension of the deadline and it has now been extended from December 5, 2018 to April 1, 2019.
The press release issued by SEBI in this regard is reproduced below:
TRANSFER OF SECURITIES ONLY IN DEMAT FORM – DEADLINE EXTENDED TILL APRIL 1, 2019
SEBI PRESS RELEASE NO. 49/2018, DATED 3-12-2018
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.