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Deadline for transfer of shares in demat extended

The last date has been extended after taking into consideration representations from shareholders.

ET Bureau|
Updated: Dec 04, 2018, 08.01 AM IST
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The last date has been extended after taking into consideration representations from shareholders.
MUMBAI :Sebi has extended the deadline for transfer of shares of listed companies in demat form to April 1.

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.
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