
MUMBAI: SEBI has decided to open a special six-month-long window to allow investors who missed the deadline to re-lodge their transfer deeds, lodged prior to the April 1, 2019, deadline but were rejected/returned/not attended to due to a deficiency in the documents/process/or otherwise.
The move will benefit a few who still have physical share certificates. The regulator said the special window will be of limited time and will be open for six months from July 7 to January 6, 2026.
SEBI had discontinued such transfers in March 2021 after extending the earlier deadline of April 2019. However, SEBI said it has received feedback that many investors missed the deadline due to issues with the documents and hence should be given an opportunity to resubmit the share certificates.
"SEBI received representation from investors as well as RTAs and listed companies that a few of the investors had missed the timelines for re-lodging their documents for transfer of securities," stated the circular.
"This issue was discussed in an expert panel which included RTAs, listed companies and a legal expert. Based on the discussion, the panel recommended that to alleviate the issue faced by the investors who missed the March 31, 2021, deadline for re-lodgement, one more opportunity may be granted to re-lodge such shares for transfer,” it added.
“During this period, the securities that are re-lodged for transfer… shall be issued only in demat mode. Due process shall be followed for such transfer-cum-demat requests,” the circular also informed.