Transfer of securities only in demat form- Deadline extended

The SEBI has extended the deadline of mandating the transfer of securities only in dematerialzed form till 01.04.2019 via press release. To check the press release, please click here

Markets regulator SEBI, on Monday extended the deadline for transfer of shares of listed companies only in demat form to April 1, 2019.

The last date has been extended after taking into consideration representations from shareholders as the initial deadline was to end on December 5 2018. Shares in the demat form will help in maintaining a transparent record of shareholding at companies amid rising concerns over beneficial ownership of entities.

In March, SEBI`s board decided that except in case of transmission or transposition of securities, requests for effecting transfer of securities will not be processed unless the securities are held in the dematerialised form with a depository. This measure was to come into effect from December 5, 2018.

“Subsequently, the regulator has received representations from shareholders for extension of the date of compliance. In view of the same, the SEBI has extended the aforesaid requirement of transfer of securities only in demat form to April 01, 2019.

Leave a Reply

Your email address will not be published.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