Ease of Doing Investment – Special Window for Transfer and Dematerialisation of Physical Securities
Summary
SEBI opens a special one-year window for the transfer and dematerialization of physical securities sold or purchased before April 1, 2019. Securities transferred under this window are subject to a mandatory one-year lock-in period in demat mode. The circular outlines specific documentation requirements for investors and procedural obligations for listed companies, RTAs, and depositories.
Text
the Board has decided to open another special window for transfer and dematerialisation (“demat”) of physical securities which were sold/purchased prior to April 01, 2019.
This special window shall be open for a period of one year from February 05, 2026 to February 04, 2027.
The special window shall also be available for such transfer requests which were submitted earlier and were rejected/returned/not attended to due to deficiency in the documents/process/or otherwise.
The securities so transferred shall be mandatorily credited to the transferee only in demat mode and shall be under lock-in for a period of one year from the date of registration of transfer. Such securities shall not be transferred/lien-marked/pledged during the said lock-in period.
For clarity with regard to applicability of this window, below matrix may be referred to: [Matrix details regarding execution date, lodgement status, and security certificate availability]
The transferee shall be mandatorily required to submit the following documents: a. Original security certificate(s); b. Transfer deed executed prior to April 01, 2019; c. Proof of purchase by transferee... d. KYC documents... e. Latest Client Master List... f. Undertaking cum Indemnity as per the format at Annexure-A.
Cases involving disputes between transferor and transferee will not be considered in this window and may be settled by transferor and transferee through court/NCLT process.
Further, securities which have been transferred to Investor Education and Protection Fund (IEPF) shall not be considered under this window for processing.
PAN, identity proof and address proof of the transferee(s) and transferor(s) shall be mandatorily verified. In case of mismatch of name in PAN card vis-à-vis name on transfer deed, transfer shall be registered on submission of additional documents explaining the difference in names...
Procedure as laid down in Para (B) of Schedule VII of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 shall be followed for difference or non-availability of signature of the transferor(s).
In case of non-delivery of the objection memo... an advertisement shall be published in at least one English language national daily newspaper... and one regional language daily newspaper... giving notice of the proposed transfer and seeking objection... within a period of 30 days... A copy of the advertisement shall also be posted on the listed company’s website.
As a measure of ease to the investor, only a minimal fee may be charged by the listed company from the investor towards such advertisement.
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Source: SecMarx — Ease of Doing Investment – Special Window for Transfer and Dematerialisation of Physical Securities. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.