To curb the malpractices related to physical share transfers, SEBI, vide its Notification dated June 8, 2018 has mandated that with effect from December 05, 2018, in all the listed companies, only Dematerialized securities will be allowed to be transferred except for transmission or transposition of securities.
The RTAs/ the listed Companies will not be allowed to undertake any physical transfers. It is advisable that during this transitional period, the Companies write to their shareholders informing them of the restriction proposed to be imposed and also briefing them of the benefits of holding scrips in Demat mode.