SEBI not listening to us - not extending deadline
SEBI issued this note to public yesterday. Looks like they are clueless and not listening to people. They are not extending the deadline. Basically companies will have it their way, we people will feel the pain.
Transfer of securities held in physical mode - clarification The Board, on March 28, 2018, decided that except in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in dematerialized form with a depository. This measure shall come into effect from April 01, 2019. Subsequently, SEBI has received representations from shareholders for extension of the date of compliance. In view of the same, the following are hereby clarified: 1. The above decision does not prohibit the investor from holding the shares in physical form; investor has the option of holding shares in physical form even after April 01, 2019.2. Any investor who is desirous of transferring shares (which are held in physical form) after April 01, 2019 can do so only after the shares are dematerialized. 3. The transfer deed(s) once lodged prior to deadline and returned due to deficiency in the document may be re-lodged for transfer even after the deadline of April 01, 2019. The above Board decision is not applicable for demat of shares, transmission (i.e. transfer of title of shares by way of inheritance / succession) and transposition (i.e. re-arrangement / interchanging of the order of name of shareholders) cases.
https://www.sebi.gov.in/media/press-releases/mar-2019/transfer-of-securities-held-in-physical-mode-clarification_42503.html more
Transfer of securities held in physical mode - clarification The Board, on March 28, 2018, decided that except in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in dematerialized form with a depository. This measure shall come into effect from April 01, 2019. Subsequently, SEBI has received representations from shareholders for extension of the date of compliance. In view of the same, the following are hereby clarified: 1. The above decision does not prohibit the investor from holding the shares in physical form; investor has the option of holding shares in physical form even after April 01, 2019.2. Any investor who is desirous of transferring shares (which are held in physical form) after April 01, 2019 can do so only after the shares are dematerialized. 3. The transfer deed(s) once lodged prior to deadline and returned due to deficiency in the document may be re-lodged for transfer even after the deadline of April 01, 2019. The above Board decision is not applicable for demat of shares, transmission (i.e. transfer of title of shares by way of inheritance / succession) and transposition (i.e. re-arrangement / interchanging of the order of name of shareholders) cases.
https://www.sebi.gov.in/media/press-releases/mar-2019/transfer-of-securities-held-in-physical-mode-clarification_42503.html more
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SEBI gave enough time to convert shares to Demat form. As always many delayed the process to the last moment and now want an extension. Why could we not do it within the timeframe given? Lack of discipline. more
Mar 28
Not the question of shareholders being criminals................, we need to observe some kind of discipline. Of course, company must also ensure the physical shares are dematerialised by its shareholders which is beneficial in all respects for all concerned. However, SEBI has given one full year for this process. In our country, we don't act within reasonable time frame but only act when penal provisions are invoked. In many instances, situation improved only after announcement of penalty, if not followed. Famous example, ban of plastic in public places. In view of this, onus is on both the company and the shareholders. more
Mar 28
जिसके पास फिसिकल शेयर है वो सुरक्षित रहेंगे 31.3.19 के बाद रद्दी में दबदील नही होगें, कल को अगर आपको वो फिसिकल शेयर बेचने है या ट्रांसफर करने है तो उन्हें डिमैट कराना जरूरी होगा- सेबी more
Mar 28
Please understand how small senior investors are struggling for obtaining correct address of co. in which they are shareholders to get their shares lodged for transfer. Even unable to get updated their address...all these have been summarised hence please visit more
Mar 28
Correct pl. This is a check on Share Business which DID NEVER CARE FOR PRODUCTION/MANUFACTURE. Harshad Mehta like Hawala shall totally be put an end through such means of control. more
Mar 28
SEBI gave enough time for this process. No need at all to continuously and repeatedly extend the deadline. All of us must get more disciplined. more
Mar 28
What do you mean by disciplie??? Investors are not criminals/ offenders, Investors MUST be respected. SEBI must ensure, every Company should reach to the Investors and either arrange shareholdings be converted to demat form. Shareholders are owners and not beggars. ONUS should be on the Company. more
Mar 28
Disagree. SEBI must must come out as saviour of the Investors and not as a dictator. The better option is SEBI should pay money @ market value on 31-Mar-19 to the investors who don't excercise this option of converting their holdings into demat form upto that date. more
Mar 28
Please go thru how small investors are struggling to have correct address of co. in which they are shareholders. Even unable to get updated their address...all these have been summarised hence please visit<https://taxguru.in/sebi/urgent-attention-requires-demat-problem.html>; more
Mar 28
