MANU/SSMD/0071/2020

Ministry : Securities and Exchange Board of India

Department/Board : Market Intermediaries Regulation and Supervision Department

Circular No. : SEBI/HO/MIRSD/RTAMB/CIR/P/2020/236

Date : 02.12.2020

Notification/ Circulars Referred : Circular no. SEBI/HO/MIRSD/RTAMB/CIR/P/2020/166 dated September 07, 2020 MANU/SSMD/0053/2020;Circular SEBI/HO/MIRSD/DOS3/CIR/P/2018/139, dated November 06, 2018 MANU/SSMD/0033/2018

Citing Reference:
Circular no. SEBI/HO/MIRSD/RTAMB/CIR/P/2020/166 dated September 07, 2020 MANU/SSMD/0053/2020  Referred

Circular SEBI/HO/MIRSD/DOS3/CIR/P/2018/139, dated November 06, 2018 MANU/SSMD/0033/2018  Referred

To

All Listed Companies (through Stock Exchanges)
All Registrars to an Issue & Share Transfer Agents (RTA)
All Depositories
All Recognized Stock Exchanges
All Depository Participants (DP)

Dear Sir/ Madam,

Operational guidelines for Transfer and Dematerialization of re-lodged physical shares

1. SEBI, vide circular no. SEBI/HO/MIRSD/RTAMB/CIR/P/2020/166 dated September 07, 2020, has fixed March 31, 2021 as the cut-off date for re-lodgment of transfer requests and has stipulated that such transferred shares shall be issued only in demat mode.

2. In this regard the operational guidelines for crediting the transferred shares into the respective demat account of the investor, with inputs from stakeholders, are as under;

i. Guidelines to credit the transferred physical shares in demat mode:

a. Subsequent to processing of the re-lodged transfer request, the RTA shall retain the physical shares and intimate the investor (transferee) about the execution of transfer through Letter of Confirmation. This letter shall be sent through Registered / Speed Post or through email with digitally signed........