The date for transferring in the demat increased

stock market news

Mumbai-Capital Markets Regulator, Indian Securities and Exchange Board (SEBI) has extended the last date for the transfer of shares of listed companies to DMAAT on April 1, 2019. Its end date was going to end on December 5.

Explain that SEBI has taken this decision after considering the repatriation of shareholders. Keeping shares in demat will help in the maintenance of transparent records of shareholding of companies between concerns about the ownership of the profits of institutions.

In March, the board of SEBI had decided that, on the request of the transfer of securities except for the transmission or transition of securities, it will not be executed, if they are not in dematerialized form or in the demat at the depository. This order was to come into force on 5th December.

“We received a request from the shareholders to raise compliance date,” said in a statement. Keeping this in mind, the final date is being increased and the mandatory requirement for the transfer of shares in their demat form will be applicable from April 1, 2019.