Company and Document Details

Nature of the Disclosure

This is an intimation to the stock exchanges (BSE Limited and National Stock Exchange of India Ltd.) regarding a regulatory circular issued by the Securities and Exchange Board of India (SEBI). The disclosure informs investors of a special window for the transfer and dematerialization of physical securities.

Key Regulatory Circular Details

The disclosure is made pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/ I/3750/2026 dated January 30, 2026. The circular is titled "Ease of Doing Investment – Special Window for Transfer and Dematerialisation of Physical Securities".

Special Window Period

The special window for transfer-cum-dematerialisation (transfer-cum-demat) is open from February 05, 2026, to February 04, 2027.

Eligibility Criteria

The facility is available for physical securities that were sold/purchased prior to April 01, 2019. It specifically covers transfer deeds that were lodged prior to that date but were rejected, returned, or remained unattended due to deficiencies in documentation, procedural requirements, or otherwise.

The circular provides an applicability matrix:

  • Eligible: Transfer deed executed before April 01, 2019, for a fresh lodgement AND the certificate is available.
  • Eligible: Transfer deed executed before April 01, 2019, was previously rejected/returned AND the certificate is available.
  • Not Eligible: Transfer deed executed before April 01, 2019, but the certificate is not available.
  • Not Eligible: Transfer deed executed on or after April 01, 2019.

Securities that have been transferred to the Investor Education and Protection Fund (IEPF) are not eligible. Cases involving disputes between transferor and transferee are also excluded and must be settled through court/NCLT process.

Investor Requirements and Process

Eligible investors (transferees) are requested to re-lodge their transfer requests with the company's Registrar and Share Transfer Agent (RTA):

RTA: MUFG Intime India Private Limited

Address: C-101, Embassy 247, L.B.S. Marg, Vikhroli (West), Mumbai – 400083

Tel: 022-49186000

E-mail: rnt.helpdesk@in.mpms.mufg.com

Mandatory Documents for Submission

The transferee must 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) of the demat account, not older than 2 months, duly attested by the Depository Participant
  • f. A notarized Undertaking-cum-Indemnity bond as per the format in Annexure-A

Lock-in Condition

Securities processed through this window will be credited only in dematerialized form and will be under a lock-in for a period of one year from the date of registration of the transfer. During this lock-in period, the securities cannot be transferred, lien-marked, or pledged.

If a fraud is detected during the lock-in, the lock-in will continue until released by a competent court order.

Obligations on Listed Companies/RTAs

Processing Timeline: Listed companies/RTAs must process transfer requests within 70 days from the date of receipt of a complete request.

Identity Verification: PAN, identity proof, and address proof of transferee(s) and transferor(s) must be verified. Name mismatches require additional documentation like an Officially Valid Document or gazette notification.

Signature Verification: Procedure as per Para (B) of Schedule VII of SEBI (LODR) Regulations, 2015 must be followed for signature differences.

Advertisement for Objection: In cases of non-delivery of objection memos, non-cooperation, or non-traceability of the transferor, an advertisement must be published in one English national daily and one regional language daily at the transferor's last known address. A notice must also be posted on the company's website. A minimal fee may be charged for this. Transfer can only be effected 30 days after the advertisement.

Publicity: Listed companies, RTAs, and Stock Exchanges must publicize the opening of this special window through various media, including print and social media, once every two months during the one-year period.

Death of Transferee: If the transferee named in the deed is deceased, legal heir(s) can claim the securities by following the specified transmission procedure.

Legal Basis

The circular is issued under Section 11(1) of the SEBI Act, 1992, read with Regulation 101 of the SEBI (LODR) Regulations, 2015, and Regulations 37 and 38 of the SEBI (RTA) Regulations, 2025.