SECURITIES AND EXCHANGE BOARD OF INDIA
SECONDARY MARKET DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
|Shir P. V. Maiyya
Central Depository Services (I) Ltd
P. J. Towers, 28th Floor,
Mumbai – 400 023
|Shri C. B. Bhave
National Securities Depository Ltd
Trade World, 4th Floor,
Kamala Mills Compound,
Senapati Bapat Marg, Lower Parel,
Mumbai – 400 013
The following clarification has been received by the Ministry of Finance.
Inter-depository trasfer of shares do not attract stamp duty. Inter-depository transfer of securities also do not require compliance with the formalities prescribed under section 108 of the Companies Act 1956.
You are advised to inform all companies whose shares have been admitted for dematerialisation and their registrars and share transfer agents accordingly for full compliance with the above.
P. K. KURIACHEN
SECONDARY MARKET, DEPOSITORY,
RESEARCH & PUBLICATIONS DEPARTMENT