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Transfer of physical shares not possible from 5 December, only demat form allowed; all you need to know
FirstpostPost-Tuesday, you won’t be able to transfer shares of listed companies if they are held in physical form. Transfer of shares by listed companies has to be done only in the demat or electronic form from 5 December, said market regulator Securities and Exchange Board of India. The government had also asked unlisted public companies to compulsorily issue new shares in demat form beginning 2 October. Out of them, 71,506 were public companies and over 11.10 lakh companies were private ones, as per data compiled by the ministry Investors can still hold shares in physical form SEBI had said its new guidelines do not bar investors from holding shares in physical form even after 5 December. “The new amendment does not prohibit the investor from holding the shares in physical form, investor has the option of holding shares in physical form even after 5 December,” SEBI said in a statement in August.
History of this topic
From today, convert shares to demat before transferring
Hindustan Times
From 1 April, shares can be transferred in demat form only: Sebi
Live Mint
Convert shares to demat form
Live Mint
From October 2, unlisted companies to issue new shares in demat form: Government
Hindustan Times)
Unlisted public companies have to compulsorily issue new shares in demat form beginning 2 October: Govt
Firstpost)
Investors can hold shares in physical form even after 5 December, clarifies SEBI
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