Summary: SEBI has initiated a special six-month window, effective from July 7, 2025, to January 6, 2026, for the re-lodgement of physical share transfer requests vide Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 Dated: 02nd July 2025. This provision addresses issues faced by investors whose physical share transfer deeds, submitted before April 1, 2019, were rejected, returned, or not processed due to deficiencies. While physical share transfers were discontinued from April 1, 2019, and a previous re-lodgement deadline was set for March 31, 2021, this new window aims to facilitate investing and secure investor rights. All re-lodged securities, including pending requests, will now be issued exclusively in dematerialized form, following a transfer-cum-demat process. Listed companies, Registrars to an Issue and Share Transfer Agents (RTAs), and stock exchanges are required to publicize this initiative bi-monthly. Additionally, listed companies must establish focused teams for these requests, report on their publicity efforts, and submit monthly reports on re-lodged shares for transfer-cum-demat.
Subject : Special Window for Re-lodgement of Transfer of Physical Shares till January 06, 2026
Ref: Ease of Doing Investment – Special Window for Relodgement of Transfer Requests of Physical Shares (SEBI Circular dated July 02, 2025)
Dear Investors / Stakeholders,
As you were aware, that transfer of securities in physical mode was discontinued with effect from April 01, 2019. Subsequently, it was clarified that transfer deeds lodged prior to deadline of April 01, 2019 and rejected/returned due to deficiency in the documents may be re-lodged with requisite documents. It was further decided to fix March 31, 2021 as the cut-off date for re-lodgement of transfer deeds.
Golden opportunity provided by SEBI to alleviate the issue faced by the investors that missed the March 31, 2021 deadline for re-lodgement such transfer of shares.
In order to facilitate ease of investing for investors and to secure the rights of investors in the securities which were purchased by them, SEBI has decided to open a special window only for re-lodgement of transfer deeds, which were lodged prior to the deadline of April 01, 2019 and rejected/returned/not attended to due to deficiency in the documents/process/or otherwise, for a period of six months from July 07, 2025 till January 06, 2026.
During this period, the securities that are relodged for transfer (including those requests that are pending with the listed company / RTA, as on date) shall be issued only in demat mode. Due process shall be followed for such transfer-cum-demat requests. It is further prescribed that the Listed companies, RTAs and Stock Exchanges shall publicize the opening of this special window through various media including print and social media, on a bimonthly basis during the six-month period.
Compliances for Listed Companies:
a) Focussed teams to attend to such requests;
b) To provide reports on publicity; (through various media including print and social media, on a bi-monthly basis during the six-month period) and
c) To provide reports on shares re-lodged for transfer cum demat in the format specified by SEBI (Annexure-A as per below format) on monthly basis.
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Author: Ravi Garg | Company Secretary | Mobile : 7838204665
Disclaimer: The author shall not be liable for any direct, indirect, incidental, or consequential damages arising from the use of or reliance on the information provided herein. Users are advised to consult professionals before acting on any information.
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