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Transfer of Physical Share Guidelines
Clarification on the transfer of physical shares
On March 28, 2018, the Panel found that demands for effecting securities transfers would not be processed unless the securities were held in dematerialized form with a depository, except in the case of transmission or transposition of securities. This criterion will take effect on April 1st, 2019.
SEBI has since received depictions from shareholders requesting an extension of the compliance date. As a result, the following points are clarified:
1. The foregoing decision does not preclude an investor from owning shares in physical form; an investor can own shares in physical form even after April 1, 2019.
2. After April 1, 2019, any investor who wishes to transfer of physical shares (which are held in physical form) can only do so after the shares have been dematerialized.
3. Transfer deeds that were lodged prior to the deadline but were returned due to a documented defect may be re-lodged for transfer of physical shares after the deadline of April 1, 2019.
Shown above Board decision does not apply to demat of shares, transmission (i.e. transfer of physical shares title through inherited wealth or transfer of power), or transposition (i.e. re-arrangement / interchanging of the order of stock holders' names).
Who can make a claim on the IEPF?
Any individual or company with unclaimed shares, dividends, matured deposits, or application funds can file a claim with the IEPF search. A legal heir of a deceased shareholder can also file a claim with IEPF to have the assets recovered and transferred to his or her name.
What are the requirements for an IEPF search & claim?
We at MUDS make sure that your recovery is as painless as possible. We'll need some basic identification documents, such as a driver's licence and a passport.
Passport / Aadhaar card (in case of NRI citizen)
PAN (Personal Identification Number) card (Indian or NRI citizen)
Check from a bank account has been cancelled.
Demat account CML (client master ledger)
Documents of original investment
How long will it take to complete the transfer of physical shares procedure?
This is a frequently asked question. The timeliness of the process is entirely dependent on how quickly we receive the requested documents. Normally, the process takes 4-5 months, but in some cases, MUDS has been able to recover shares from the IEPF in less than 30 days. Additionally, if there are any issues with your primary documents, this could cause a delay in the process.
What kinds of documents will you require for iepf search and iepf unclaimed dividend?
All of the required documents are determined on a case-by-case basis. A basic set of identification documents is required, such as a copy of an Aadhaar card or a passport (for NRI investors)
PAN Card (Personal Identification Number)
In the event that shares are recovered, the bank account CML (Client Master Ledger) has been cancelled.
Proof of investment (if any)
Documents required to vary depending on the situation, such as a name change, a death claim case, a transfer of physical shares, and so on. Contact us right away to learn more about the documents you'll need for your case.
What happens if the iepf unclaimed dividend aren't repaid?
You haven't got anything to lose! We make it clear in our agreement that the amount you pay as a Security Deposit is fully refundable if we are unable to recover your funds.
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