Another
Special Window for Re-lodgement of Transfer of Physical Shares from February
05, 2026 to February 04, 2027
Ref : Previous special window for
Re-lodgement of Transfer Requests of Physical Shares was opened till January
06, 2026 vide SEBI Circular dated July 02, 2025. Click
here for more details
Dear
Stakeholders,
SEBI vide its Circular dated
January 30, 2026, have given another golden opportunity provided by SEBI to
alleviate the issue faced by the investors who missed March
31, 2021, and thereafter January 06, 2026, deadline for re-lodgment such
transfer of shares.
As you were aware, that transfer of securities in
physical mode was discontinued with effect from April 01, 2019. Subsequently,
it was clarified that transfer deeds lodged prior to deadline of April 01, 2019,
and rejected/returned due to deficiency in the documents may be re-lodged with
requisite documents. It was further decided to fix March 31, 2021, as the
cut-off date for re-lodgement of transfer deeds.
In order to further facilitate the
investors to get rightful access to their securities, the Board
has decided to open
another special window for
transfer and dematerialization (“demat”)
of physical securities which were sold/purchased prior to April 01, 2019
APPLICABILITY
Refer the below matrix
for applicability of the SEBI Circular dated January 30, 2026
|
Execution Date
of Transfer Deed
|
Lodged
for transfer before April 01, 2019?
|
Original
Security Certificate Available?
|
Eligible to lodge in the current window?
|
|
Before April
01, 2019
|
No
(it is fresh lodgement)
|
Yes
|
✔
|
|
Before April
01, 2019
|
Yes
(it was rejected/ returned earlier)
|
Yes
|
✔
|
|
Before April
01, 2019
|
Yes
|
No
|
✘
|
|
Before April
01, 2019
|
No
|
No
|
✘
|
CONDITIONS
TO BE FULFILLED BY THE INVESTOR / TRANSFEREE
The
transferee shall be mandatorily required to submit the following documents:
a)
Original
security certificate(s);
b)
Transfer
deed executed prior to April 01, 2019;
c)
Proof
of purchase by transferee, as may be available;
d)
KYC
documents of the transferee (as per ISR forms);
e)
Latest
Client Master List (‘CML’), not older than 2 months, of the demat account of
the transferee, duly attested by the Depository Participant; and
f)
Undertaking
cum Indemnity as per the format at Annexure-A.
EXCLUSION
LIST / NON APPLICABILITY OF THIS SPECIAL WINDOW:
Ø Cases involving
disputes between transferor and transferee will not be considered
in this window and may be settled
by transferor and transferee through
court/NCLT process.
Ø Securities which have
been transferred to Investor Education and Protection Fund (IEPF) shall not be
considered under this window for processing.
COMPLIANCES
FOR LISTED COMPANIES / RTAs / DEPOSITORIES:
1. Obligations on Listed
Companies/RTAs/Depositories
(A)
Identity verification:
i)
PAN,
identity proof and address proof of the transferee(s) and transferor(s) shall
be mandatorily verified.
ii)
In
case of mismatch of name in PAN card vis-à-vis name on transfer deed, transfer
shall be registered on submission of additional documents explaining the difference in
names viz. copy of any Officially Valid Document or copy of gazette
notification regarding change in name.\
(B)
Signature verification:
Procedure as laid down
in Para (B) of Schedule VII of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 shall be followed for difference or
non-availability of signature of the transferor(s) as appended hereunder:
(1)
In case of minor differences in the signature of the
transferor(s), the listed entity shall follow the following procedure for
registering transfer of securities:
(a)
the
listed entity shall promptly send to the first transferor(s), via speed post an
intimation of the aforesaid defect in the documents and inform the
transferor(s) that objection, supported by valid proof, is not lodged by the
transferor(s) with the listed entity within fifteen days of receipt of the
listed entity’s letter, then the securities shall be transferred;
(b)
if
the intimation to the transferor(s) is delivered and the objection from the
transferor(s) with supporting documents is not received within fifteen days,
the listed entity shall transfer the securities provided the listed entity does
not suspect fraud or forgery in the matter:
(2) In case of major
differences in, or non-availability of, the signature of the
transferor(s), the listed entity shall follow the following procedure for
registering transfer of securities:
(a)
The listed entity shall promptly send to the
transferee(s), via Speed Post, an Objection Memo along with the documents in
original marking the reason as “material signature difference/ non-availability
of signature” and an advice to ensure submission of requested documents of the
transferor(s);
(b)
The listed entity shall also send a copy of the
Objection memo as per clause (a) of sub-para (2) to the transferor(s), via
Speed Post, simultaneously;
(c)
The above Objection Memo in clause (a) and (b) of
sub-para (2) shall also state the requirement of additional documents of
transferor(s) as follows for effecting the transfer:
(i) an
Affidavit to update transferor(s) signature in its records;
(ii) an
original unsigned cancelled cheque and banker’s attestation of the
transferor(s) signature and address);
(iii)
contact details of the transferor(s) and ;
(d)
If the intimation to both the transferor(s) and the
transferee(s) are delivered, requested documents of the transferor(s) are
submitted to the listed entity and the address attested by the bank tallies
with the address available in the database of listed entity, the listed entity,
shall transfer the securities provided the listed entity does not suspect fraud
or forgery in the matter:
(C)
Non-delivery of
objection memo to the transferor / non-availability of any document required
for transfer:
i)
In
case of non-delivery of the objection memo to the transferor, non-cooperation
by / inability / non-traceability of the transferor / non-availability of any
document required for transfer as per Para A above, an advertisement shall be
published in at least:
a)
One
English language national daily newspaper having nationwide circulation; and
b)
one
regional language daily newspaper published in the place of last known address
of the transferor available in the records of the listed entity, giving notice
of the proposed transfer and seeking objection, if any, to the same within a
period of 30 days from the date of advertisement. A copy of the advertisement
shall also be posted on the listed company’s website.
ii)
As a measure of ease to the investor, only a minimal
fee may be charged by the
listed company from the investor towards such advertisement.
iii)
Transfer shall be effected
only after the expiry of 30 days from the newspaper advertisement.
(D)
In case of death of transferee as per the executed transfer
deed, legal heir(s) can claim the securities with all
required documents as per the specified transmission procedure.
(E)
While giving
credit of securities in the demat account of the transferee, listed company/RTA shall intimate
the depository regarding one-year lock-in of the
securities.
(F)
After
the transfer, if fraud is detected during the one-year lock-in period, the
lock-in shall continue on the related securities till further intimation. In
such cases, securities so locked-in shall be released only in favour of the
claimant as per order from competent court for release of securities.
(G)
To
publicize the opening of this special window through
various media including print and social
media, once every two months during the one-year
period.
TIMELINE
FOR COPLETION OF REQUEST
Transfer
requests shall be processed within 70 days from the date of receipt of
request from the transferee with complete documentation.
****************************************************************************************
-:Note
for Investors/ Claimant:-
Feel free to connect
with us for any support in process of request of claim of Physical Shares or Duplicate
Issue / Transmission of shares.
Disclaimer:
IN NO EVENT THE AUTHOR
SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE
RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS
INFORMATION.
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