Government of India has banned the transfer of physical shares of listed/unlisted/delisted companies from 01.04.2019 onwards except in case of Transmission of shares.
The Board, on March 28, 2018, decided that except in case of transmission or transposition of securities, requests for effecting the transfer of securities shall not be processed unless the securities are held in dematerialized form with a depository. This measure shall come into effect from April 01, 2019.
Subsequently, SEBI has received representations from shareholders for extension of the date of compliance. In view of the same, the following are hereby clarified:
The above decision does not prohibit the investor from holding the shares in physical form; investor has the option of holding shares in physical form even after April 01, 2019.
Any investor who is desirous of transferring shares (which are held in physical form) after April 01, 2019 can do so only after the shares are dematerialized.
The transfer deed(s) once lodged prior to the deadline and returned due to a deficiency in the document may be re-lodged for transfer even after the deadline of April 01, 2019.
The above Board decision is not applicable for DMAT of shares, transmission (i.e. transfer of title of shares by way of inheritance/succession) and transposition (i.e. re-arrangement / interchanging of the order of name of shareholders) cases.”
Why SEBI is doing this?
Difficulties Faced by Investors
There can be many hurdles which an investor may face such as signature mismatch, address mismatch, name mismatch and how to fill DRF form, etc.
For different companies share the investor need to contact the different registrar.
Whom to Contact
We at IEPFZone.com, have a team of experts to help you convert the shares to your demat account very easily, as we are well versed with the procedures of various different registrars.
There are more than 50 different registrars across India and hence it is difficult for the investor to approach each registrar for every folio.
Also, an investor may have old shares. They may not have the new share certificates following corporate actions such as merger/demerger/split/bonus etc. We help the investor reclaim the new share certificates and then get it converted to Demat. The procedure may involve filing a lot of affidavits and indemnity bonds, giving gazette notifications and newspaper advertisements. We charge very nominal fees and make sure the entire procedure is very smooth for the investor.
We also give services of share transmission. Click here to check details of our share transmission service.
We also give services to avail duplicate shares if the shares are lost.
Please note that these services are given assuming the shares are not under dispute and you are the genuine shareholder.
We have our teams across PAN India to assist you with further queries.
Kindly get back to us for more information.