InvestorQ : What does the deadline for transfer of non-demat share certificates signify? I have physical shares in the name of my great grandfather. How can those be transferred?
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What does the deadline for transfer of non-demat share certificates signify? I have physical shares in the name of my great grandfather. How can those be transferred?

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Roshni Hegde answered.
3 years ago
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All physical forms of listed companies shares will be stale after the clocks hits 12 and calendar page turns to 5th December 2018 .
For all those shareholder who skip to 'de-materialised’, market regulator SEBI issued a notification on June 8.It stated that transfer of securities will not be permitted unless they are de-materialised under the policy.
According to the policy all the respective companies are required to publish list of people with unclaimed dividends. Recently it has been observed that fraudsters in market use this data and mostly target those accounts in which the dividend is unclaimed for several years.
Thus through adopting the idea of converting shares in demate form such frauds can be controlled. The Depositories Act, 1996, however, liberates people with the option to own shares in physical form as well. Experts say that post December 5, as notified by SEBI, investors may be able to hold shares in physical form but definitely not not transfer them as it may affect their value.
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