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SEBI Restriction on transfer of Physical shares



With reference to BSE CIRCULAR NO. LIST/COMP/15/2018-19 dated 05/07/2018 regarding amendment to Regulation 40 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 with respect to mandatory dematerialization for transfer of securities.

The Securities and Exchange Board of India vide Circular No. SEBI/HO/MIRSD/DOP1/CIR/P/2018/73 dated April 20, 2018 has mandated submission of Permanent Account Number (PAN) and bank account details of all securities holders holding securities in physical form. Further, SEBI has given a notification on June 8th, 2018 stating that physical transfer of shares will be allowed until December 4th, 2018 vide Circular No. SEBI/LAD/NRO/GN/2018/24.

In order to implement the aforementioned Amendment in the Regulation and as advised by SEBI, your company are hereby carry out the following actions:

  1. To take special efforts through RTAs to send letter under Registered/Speed post to the holders of physical certificates appraising them about the amendment and sensitise them about the impact of the regulation on the transfer of shares held by them in physical form w.e.f December 5, 2018.
  2. RTAs may also be advised to send two reminders, preferably at a gap of 30 days, to such shareholders who continue to hold their shares in physical form, advising them to get the same dematerialized.

Proposed Changes and directive:

Still holding Physical shares of Company, please get rid of it before 5th December, 2018. Otherwise, you may lose youe right to transfer.

Hence, shareholders requested to kindly send your shares for transfer before December 4th, 2018 or demat your shares with your Depository Participant at any time after updating your KYC information with RTA. Kindly submit the details and documents to the address mentioned below within 21 days of receipt of this communications from RTA. As per RTA records, folio needs to be updated with the PAN / Complete Bank details so that the investments held by you are in compliance with the aforementioned circular.

Contact details of RTA for dematerialize of shares:


SEBI Regn. INR000001112 Category 1 Registrars to IPO & Share Transfer Agents)

CIN No. U67120MH1993PTC074079

9 Shiv Shakti Industrial Estate, J. R. Boricha Marg, Near Lodha Excelus, Lower Parel East, Mumbai - 400 011

Email: purvakyc18@gmail.com   Website: www.purvashare.com    Tel. No.: 23016761 / 8261

In order to implement the aforementioned Amendment in the Regulation and as advised by SEBI, Stock Exchanges, all the shareholders are required to take note the same and carry out the necessary actions.