Ref. LIST/COMP/72/2020-21
Dear Sir\Madam,
Securities and Exchange Board of India (SEBI) has issued circular No. SEBI/HO/MIRSD/RTAMB/CIR /P/2020/236 dated December 2, 2020, regarding Operational guidelines for Transfer and Dematerialization of re-lodged physical shares.
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.
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;
· Guidelines to credit the transferred physical shares in demat mode.
· In case of the shares that are required to be locked-in as per the SEBI Circular SEBI/HO/MIRSD/DOS3/CIR/P/2018/139, dated November 06, 2018, the RTA while approving / confirming the demat request, shall also incorporate / intimate the Depository about the lock-in and its period. Such shares shall be in lock-in demat mode for 6 months from the date of registration of transfer.
· In case of non-receipt of demat request from the investor within 90 days of the date of Letter of Confirmation, the shares will be credited to Suspense Escrow Demat Account of the Company
The aforesaid circular is attached for reference.
All Listed companies are requested to take note and comply accordingly.
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Abhijit Pai
Dy. General Manager
Listing Compliance
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Shyam Bhagirath
Manager
Listing Compliance
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December 4, 2020
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