In a major move taken by the capital market regulator, SEBI, it has given a big relief to the investors at large who are still holding the physical shares of the listed companies but have not converted them into Demat format till date and the last date to convert such shares was 5th December, 2018 as per Semicircular dated 6th November 2018. Now this deadline to covert the physical shares into Demat have been extended till 31st March 2019.

SEBI vide press release (2018 PR No.: 49/2018) dated 3rd December, 2018 has extended the deadline and the requirement of transfer of securities only in Demat form shall now come into force from April 1, 2019

Originally, SEBI, 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 meanwhile SEBI received lot of representations from shareholders seeking for extension of the date of compliance for at least 100 days and accordingly, vide Press release dated 3rd December 2018, it has been extended till 31st March 2019 thereby providing soothing relief to Lakhs of investors and professionals of various such executing bodies who are engaged at various places in the entire process were highlighting lot of difficulties faced in providing documents for effecting transfer of securities and the documents sought used to vary across RTAs (Registrar & Transfer Agent) for the cases relating to transfer of old shares in physical form where PAN card of transfer or not available, name mismatch, signature mismatch etc. SEBI has laid down standard process in such cases so that there remains not ambiguity.

SEBI gave a perfect New Year bonanza for Investor who is finding it difficult due to cumbersome and ambiguous process to transfer their Old physical shares. Now they will have the sufficient time to arrange or process their documents to execute this once in lifetime activity.

Tags:

Author Bio

More Under SEBI

4 Comments

  1. Rajen Kumar Chowdhury says:

    Where to submit shares in physical form to convert into demat form? Should the share holder give those to their respective DP? Please let me know the details.

    Thanx & Regards.

  2. RK BHUWALKA says:

    As far as I remember this extension has been announced long back and you have also informed to your readers by similar article. Am I wrong?

    1. manish22 says:

      This was announced sometimes back but this is a very important reminder as it usually takes lot of time to convert from mat form to demat. This also serves as reminder to do it timely as this is the last time and after this the crores of rupees which are lying in shares would be freeze once this deadline is over. Hope you got the point.

      Regards, Manish Kumar Gupta, 9810771477

Leave a Comment

Your email address will not be published. Required fields are marked *