Deadline for transfer of shares in demat extended
The last date has been extended after taking into consideration representations from shareholders.
In March,the regulator had 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,” the regulator said in a statement Monday.