Ease of Doing Investment – Special Window for Transfer and Dematerialisation of Physical Securities.
Special window for transfer and dematerialisation of physical securities
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To facilitate ease of investing for investors and to secure their rights in securities purchased by them, SEBI has introduced a special window for transfer and dematerialisation (“demat”) of physical securities that were sold/purchased prior to April 01, 2019. The special window also covers transfer requests that were submitted earlier but were rejected, returned or not attended to due to deficiencies in documents, process or otherwise.
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This special window shall be open for a period of one year from February 05, 2026, to February 04, 2027. The applicability of the window is as follows:
|
Execution Date of Transfer Deed |
Lodged for transfer before April 01, 2019? |
Original Security Certificate Available? |
Eligible to lodge in the Current window? |
|
Before April 01, 2019 |
No (it is fresh lodgement) |
Yes |
Yes |
|
Before April 01, 2019 |
Yes (it was rejected / returned earlier) |
Yes |
Yes |
|
Before April 01, 2019 |
Yes |
No |
No |
|
Before April 01, 2019 |
No |
No |
No |
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The securities transferred under this special window shall be mandatorily credited to the transferee only in demat mode and shall remain under lock-in for one year from the date of registration of transfer. During the lock-in period, such securities shall not be transferred, lien-marked or pledged.
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For more information and clarity, you may refer to the SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026 – Ease of Doing Investment – Special Window for Transfer and Dematerialisation of Physical Securities.