SEBI: Deadline extended for Transfer of securities only in demat form
By : Legal Era
Update: 2018-12-04 12:18 GMT
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The Securities and Exchange Board of India (SEBI) on December 03 issued a Press Release regarding the extension of the date of transfer of securities only in demat form till April 1, 2019.The Release stated, “The Board, 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 and Exchange Board of India (SEBI) on December 03 issued a Press Release regarding the extension of the date of transfer of securities only in demat form till April 1, 2019.
The Release stated, “The Board, 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.”
It concluded, “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.”