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Shares can be held in physical form even after Dec 5
Markets regulator Sebi recently said its new guidelines dont bar investors from holding shares in the physical form even after December 5 The clarification comes after the Sebi received several calls concerning the applicability of its directive
Markets regulator Sebi recently said its new guidelines don’t bar investors from holding shares in the physical form even after December 5. The clarification comes after the Sebi received several calls concerning the applicability of its directive.
The regulator, in July, had said that transfer of shares of listed companies has to essentially be in dematerialised mode from December 5.
“The new amendment does not prohibit the investor from holding the shares in physical form, investor has the option of holding shares in physical form even after December 5, 2018,” the Securities and Exchange Board of India (Sebi) said in a statement.
The new rule is not applicable for transfer of title of shares by way of inheritance or succession and interchanging of the order of name of shareholders.
Besides, the regulator said that any investor who is desirous of transferring shares, which are held in physical form, after December 5 can do so only after the shares are dematerialised.
Shares in the demat form will help in having a transparent record of shareholding at companies amid rising concerns over beneficial ownership of entities.
