Relief for Investors: SEBI Opens Six-Month Window for Re-Lodging Old Physical Share Transfers
SEBI opens a six-month window from July 7 for investors to re-lodge old rejected physical share transfers, allowing transfer only in demat mode.
The Securities and Exchange Board of India (SEBI) issued a circular dated July 2, 2025, opening a special six-month window for re-lodging old physical share transfer requests that were previously rejected or returned due to incomplete documentation.
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The window will be open from July 7, 2025, to January 6, 2026, allowing investors another chance to secure their investments that remained pending for years.
Background
Physical share transfers were stopped in India from April 1, 2019, to encourage a shift to the electronic (demat) system. SEBI had allowed investors to re-lodge transfer requests if they were originally submitted before the deadline but were rejected due to missing documents or errors. The earliest last date for re-lodgement was March 31, 2021.
Why This Window Has Been Opened
SEBI stated it received requests from investors, registrar and transfer agents (RTAs), and listed companies highlighting that many investors had missed the March 2021 deadline. After discussions with a panel of experts, SEBI decided to give investors one final opportunity to reclaim their shares and complete the transfer process.
Transfers Only in Demat Mode
During this special six-month window, investors can re-lodge their transfer requests, but shares will only be transferred in demat form. Investors will need to have an active demat account to complete the process, supporting SEBI’s aim for full digitisation of the securities market.
Publicity and Monitoring Measures
SEBI has directed listed companies, stock exchanges, and RTAs to publicise this window every two months using print, social, and digital media to ensure investors are aware of this opportunity.
RTAs and listed companies must have dedicated teams to handle these requests efficiently and submit monthly reports to SEBI detailing:
- Requests received
- Requests processed, approved, and rejected
- Average processing times
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SEBI’s move is expected to assist investors who purchased shares in good faith but could not complete the transfer process due to technical issues or missed deadlines.
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