SEBI Opens New 6-Month Window for Physical Share Transfers that Missed Previous Deadlines

The Securities and Exchange Board of India (SEBI) has announced a special 6-month window for investors to re-lodge transfer deeds for physical shares. This applies to requests submitted before April 1, 2019, but returned, rejected, or left unprocessed due to document-related issues.

The window will remain open from July 7, 2025, to January 6, 2026. Only transfer requests that were lodged prior to April 1, 2019, and faced issues due to incomplete or incorrect documentation are covered under this provision.

Earlier Cut-Off and Extension

Physical transfer of securities was discontinued starting April 1, 2019. SEBI had earlier allowed re-lodgement until March 31, 2021. The current window comes after fresh requests from investors, listed companies, and Registrar and Transfer Agents (RTAs) who cited missed timelines.

A panel comprising legal experts, RTAs, and listed companies reviewed the matter. Based on the recommendation, SEBI agreed to allow one more opportunity to re-lodge transfer requests that were delayed due to deficiencies.

Mandatory Demat Requirement

All securities re-lodged under this window will be transferred only in dematerialised form. Companies and RTAs have been asked to follow the required transfer-cum-demat procedures.

Companies and RTAs must form dedicated teams to handle such cases. They are required to publicise the availability of this window every two months via print and digital platforms. Monthly reports on the number of applications received, processed, approved, or rejected must be submitted to SEBI.

Transfer requests that are still pending with listed entities or RTAs as of July 2, 2025, will also be included in this special arrangement. This allows unresolved cases from earlier deadlines to be addressed.

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Conclusion

SEBI’s circular provides a limited period for investors to regularise earlier physical share transfer requests. The transfer will be processed in demat form, with compliance procedures to be followed by all parties involved.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.