Trading Members are requested to note that SEBI has notified SEBI (LODR) (Fourth Amendment) Regulations, 2018 on June 8, 2018 amending Regulations 7(2) and 40(1). The amendments have mandated that with effect from December 5, 2018, any transfer of securities will have to be done in dematerialized form only. Transfer of physical securities has been permitted only in case of transmission or transposition of securities.
The same was informed to the listed Companies and Registrar & Transfer Agents vide Exchange circular no. LIST/COMP/15/2018-19 dated July 05, 2018, who in turn are required to have communicated the same to their shareholders and advised them to demat their physical holdings.
In view of the above, this circular of SEBI is being implemented as under with effect from November 01, 2018.
(1) Settlement of trade obligations in “Physical Delivery” mode, shall be discontinued from November 01, 2018, to allow for bad delivery cycle to be completed before the deadline of December 5, 2018.
(2) Trading in the securities of the companies that have not signed with any of the Depositories shall be kept in abeyance (no trading) from November 01, 2018. However, these companies would be treated as Active Companies for all practical purposes (i.e. such Companies are required to comply with all compliances under Listing Regulations for continuous listing and penal norms as per SEBI SOP circular will apply for late / non-compliance). Further the equity shares of these companies will be moved to separate Groups Y and ZY for purposes of identification. Accordingly, the companies that have not signed up with any of the Depositories and belong to present groups P and ZP shall be moved to Group Y and Group ZY respectively. The list of the Companies with group change is attached as Annexure I. The list is prepared based on information available with the Exchange for these companies.
(3) Companies which have signed with any one of the depositories would continue to be available for trading in Groups P and ZP with current market lot and settlement of trade obligations has to be compulsorily settled only in Demat mode as stated in (1) above.
In case of any queries regarding the notice you are requested to contact following officials.
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Sr.
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Name of the Officer
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Contact Details
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Email
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1
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Marian D’Souza
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22728744
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marian.dsouza@bseindia.com
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2
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Saurabh Poojari
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22728634
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saurabh.poojari@bseindia.com
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Mangesh Tayde Abhijit Pai
Senior Manager DGM
Listing Operations Listing Compliance.
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