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Sebi allows 6-month window to re-lodge old share transfer requests
Category: SEBI, Posted on: 04/07/2025 , Posted By: CS JYOTI MITTAL
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SEBI Introduces Special Window for Re-lodgement of Physical Share Transfers


 

Meet CS Jyoti Mittal, a driven Company Secretary and final year law enthusiast pursuing LLB from Dr. BR Ambedkar University. As a proud member of the Institute of Company Secretaries of India Jyoti has a keen interest in corporate laws, labour laws, SEBI Regulations and more. An amateur blogger and avid reader, Jyoti enjoys writing articles and blogs to enhance drafting skills and share knowledge. With a passion for exploring diverse law fields and a commitment to excellence, Jyoti is dedicated to continuously learning and growing

 

 

SEBI circular (SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 dated July 2, 2025)

 

In a major investor-friendly move, the Securities and Exchange Board of India (SEBI) has announced the opening of a special six-month window to facilitate the re-lodgement of transfer requests for physical shares. This decision addresses long-standing concerns from investors who were unable to meet earlier deadlines due to documentation deficiencies.

Background and Context


The transfer of securities in physical form was discontinued effective April 1, 2019. However, to accommodate pending cases, SEBI had earlier allowed re-lodgement of transfer deeds that were originally submitted before this cutoff date and returned due to incomplete or defective documentation. The final date for such re-lodgements was March 31, 2021.

Despite the previous relief window, several investors, RTAs, and listed companies continued to approach SEBI, citing missed deadlines and unresolved issues. In response, SEBI constituted a panel including legal experts, RTAs, and listed company representatives. After reviewing the matter, the panel recommended reopening the facility to protect investor interests.

Key Highlights of the Circular


  1. Re-opening of Transfer Facility:


A new special window will be open from July 7, 2025, to January 6, 2026, allowing re-lodgement of transfer requests that were lodged before April 1, 2019, but were returned, rejected, or left unattended due to documentation errors or other procedural gaps.

  1. Mandatory Dematerialisation:


All shares re-lodged during this window will be transferred strictly in dematerialised form. The process will involve standard procedures for transfer-cum-demat requests.

  1. Public Awareness Initiatives:


Stock exchanges, RTAs, and listed companies are directed to actively promote this window through print and social media, with updates being published every two months during the active period.

  1. Dedicated Teams for Redressal:


Companies and RTAs must allocate dedicated teams to handle incoming requests efficiently and ensure timely processing.

  1. Monthly Reporting to SEBI:


All entities involved must submit monthly reports to SEBI on two fronts:

    • Publicity efforts undertaken
    • Status of share transfer requests (format provided in Annexure-A of the circular)

This circular is issued under the authority of Section 11(1) of the SEBI Act, 1992 and in accordance with the SEBI Listing Regulations, 2015 and the SEBI RTA Regulations, 1993. The aim is to uphold investor rights, promote fair practices, and ensure continued development of the securities market.

Conclusion


SEBI’s initiative to reopen the re-lodgement facility exemplifies its commitment to investor protection and ease of doing investments. This move not only gives another chance to investors to regularise their holdings but also enhances transparency and accountability through a structured and monitored process. Investors who missed the earlier deadline now have a valuable opportunity to secure their rightful ownership, provided they act within the six-month window.

 


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