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Missed the Deadline to Transfer Physical Shares? SEBI Opens Special 6-Month Window - Here’s What You Need to Know
Simplifying the Complex Circular
In a big move for investors who missed the earlier chance to transfer physical shares, SEBI has introduced a special 6-month re-lodgement window. This circular, dated July 2, 2025, aims to resolve long-pending issues around rejected or returned transfer deeds submitted before April 1, 2019.
Let’s decode what this circular really means for investors, RTAs (Registrar and Share Transfer Agents), and listed companies in plain language.
Read the official SEBI circular here
What Was the Original Rule?
Since April 1, 2019, transfer of shares in physical format was stopped. However, investors who had already submitted transfer deeds before that date but were rejected (due to errors/missing documents) were allowed to re-lodge until March 31, 2021.
What’s the Problem Now?
Many investors missed the 2021 deadline too - due to unawareness, delays, or incomplete documentation. This left them with untransferable shares and stuck investments.
RTAs, listed companies, and investors raised this issue to SEBI for reconsideration.
SEBI’s 2025 Solution: Special Window Re-Opened
New Re-lodgement Window:
July 7, 2025 to January 6, 2026
(6-month one-time opportunity)
Who Can Re-lodge?
- Submitted share transfer requests before April 1, 2019
- Requests rejected or returned due to any deficiency
- Requests ignored or not processed by RTAs/listed companies
What Happens After You Re-lodge?
- All shares will be transferred only in Demat mode
- Verification process will be followed
- Shares will be recorded in the investor’s demat account
Mandatory Publicity & Monitoring
- RTAs, Stock Exchanges, and Listed Companies must publicize the window bi-monthly
- Dedicated teams to be assigned for handling these requests
- Monthly reporting to SEBI required using Annexure A format
Legal Authority
This circular is issued under:
- Section 11(1) of SEBI Act, 1992
- Regulation 102 of SEBI LODR Regulations, 2015
- SEBI (Registrar & Share Transfer Agents) Regulations, 1993
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Frequently Asked Questions (FAQs)
1. Can I re-lodge my physical shares transfer if I missed the 2021 deadline?
Yes. SEBI has allowed re-lodgement for such cases from July 7, 2025 to January 6, 2026, only for deeds submitted before April 1, 2019 and rejected/ignored earlier.
2. Will I receive physical share certificates again?
No. All successfully re-lodged shares will be transferred in Demat mode only. You must have a demat account.
3. Where should I submit my re-lodgement request?
To the Registrar & Transfer Agent (RTA) or listed company where your original shareholding or request was submitted. They will guide you on documentation and processing.
Conclusion
This move by SEBI is a strong step towards investor fairness and smoother share market transitions. If you or someone you know is stuck with old physical shares - this might be your final chance to reclaim them securely.
Act before January 6, 2026.
If you need help understanding RTA roles, securities regulations, or want to pursue a career in compliance and share transfer operations, don’t forget to:
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