The Hindu Business Line : SEBI panel to look into share transfer hitches

Mumbai June 11 SEBI has constituted a group to suggest suitable measures to address issues relating to difficulties faced by investors while dealing with transmissions of securities in physical and dematerialised mode.

The Group will be headed by Mr R.K. Nair, Executive Director, SEBI. The other members of the Group include Mr A.P. Bakliwal, President, Bombay Shareholders Association, Mr S.V.M.D. Rao, General Manager, SEBI, and Mr Ananta Barua, Joint Legal Adviser, SEBI. The Member-Secretary of the Group will be Mr Jeevan Sonparote, Deputy General Manager, SEBI.

The group shall examine various procedures followed by the listed companies and registrar and share transfer agents for transmission of physical shares; explore the implementation of the concept of either or survivor in depository system; suggest uniform norms and procedures relating to the transmission of physical shares, specifically with reference to documentation required for transmission.

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