**Summary:**
This circular, issued by the Securities and Exchange Board of India (SEBI) on September 7, 2020, addresses the relodgement of share transfer requests. It pertains to all registered Registrar Share Transfer Agents (RTAs), recognized stock exchanges, and listed companies.
The circular sets a cutoff date of March 31, 2021, for the relodgement of share transfer deeds that were initially lodged before April 1, 2019, and subsequently rejected due to deficiencies. All shares relodged for transfer, including requests pending with listed companies or RTAs as of the date of the circular, will be issued exclusively in dematerialized (demat) mode.
This directive is issued under Section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect investor interests, promote the development of the securities market, and regulate the market. A press release will also be issued to inform investors.
For further information, contact Manjesh Roy S., General Manager, at 022-26449710 or manjeshsr@sebi.gov.in.
Key Entities Referenced
Securities and Exchange Board of India (SEBI): Regulatory body issuing the circular and empowered by the Securities and Exchange Board of India Act, 1992
SEBI Listing Obligations and Disclosure Requirements Regulations, 2015: Regulations under which transfer of securities held in physical mode has been discontinued
Registered Registrar Share Transfer Agents (RTA): Entities to whom the circular is addressed
Recognised Stock Exchanges: Entities to whom the circular is addressed
Listed Companies: Companies to whom the circular is addressed, through Stock Exchanges
April 01, 2019: Date from which transfer of securities held in physical mode has been discontinued
March 27, 2019: Date of Press Release No. 122019 clarifying relodgement of transfer deeds
March 31, 2021: Cutoff date for relodgement of transfer deeds
CIRCULAR
SEBI/HO/MIRSD/RTAMB/CIR/P/2020/166 September 07, 2020
To,
All Registered Registrar & Share Transfer Agents (RTA)
All Recognised Stock Exchanges
All Listed Companies (through Stock Exchanges)
Dear Sir / Madam,
Sub: Re-lodgement of Transfer Requests of Shares
1. In terms of Regulation 40 (1) of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, transfer of securities held in physical mode
has been discontinued w.e.f. April 01, 2019. Subsequently, vide Press
Release No. 12/2019 dated March 27, 2019, it was clarified that transfer
deeds lodged prior to deadline of April 01, 2019 and rejected / returned due to
deficiency in the documents may be re-lodged with requisite documents.
2. It has been decided to fix March 31, 2021 as the cut-off date for re-lodgement
of transfer deeds. Further, the shares that are re-lodged for transfer
(including those request that are pending with the listed company / RTA, as
on date) shall henceforth be issued only in demat mode.
3. This circular is being issued in exercise of powers conferred under Section 11
(1) of the Securities and Exchange Board of India Act, 1992, to protect the
interests of investors in securities and to promote the development of, and to
regulate the securities market.
4. A press release is also being issued in this regard to disseminate this
information to investors.
Yours faithfully
Manjesh Roy S.
General Manager
Tel. no: 022-26449710
Email id: manjeshsr@sebi.gov.in
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