Stocks

SEBI issues norms to demat re-lodged shares

Our Bureau. Chennai | Updated on December 02, 2020 Published on December 02, 2020

SEBI on Wednesday came out with operational guidelines to credit physical shares in demat account of investors following re-lodged transfer request. Transfer deeds lodged prior to deadline of April 1, 2019, and rejected/returned due to deficiency in the documents were allowed to re-lodge with requisite documents. SEBI had fixed March 31, 2021, as the cut-off date for re-lodgement of transfer deeds. Subsequent to processing of re-lodged transfer request, the RTA would retain physical shares and intimate the investor about the execution of transfer through a letter of confirmation, SEBI said. This letter will be sent through speed post or e-mail, with the digitally signed letter containing details of endorsement, shares, folio of investor as available on physical shares, it added.

The investor would have to submit the demat request, within 90 days of issue of letter of confirmation, to depository participant along with the letter of confirmation.

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Published on December 02, 2020
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