PAN CARD mandatory for Transfer of Shares in Physical Form
The
Securities and Exchange Board of India, vide its Circular dated 20th May, 2009,
has clarified that for securities market transactions and off-market/ private transactions
involving transfer of shares in physical form of listed companies, it shall be mandatory
for the transferee(s) to furnish copy of PAN Card to the Company for registration
of such transfer of shares, irrespective of the amount of such transaction.
Accordingly,
for registration of transfer of shares of the Company in physical form, transferees
are requested to furnish self-attested copies of their PAN Cards to the Company.
In case number of transferees are more than one, than each transferee will be required
to submit self-attested copy of their PAN Card to the company.
Presently, the share transfer requests which are received in physical form are normally
effected within a maximum period of 15 days from the date of receipt and demat requests
are confirmed within a maximum period of 15 days. The company provides investor
and depository services in-house through its secretarial department.