SEBI Opens One-year Special Window to Unlock Transfer and Dematerialisation of Stuck Physical Shares
Moneylife Digital Team 02 February 2026
Market regulator Securities and Exchange Board of India (SEBI) has announced a significant relief measure for investors holding physical securities that could not be transferred or dematerialised before the 1 April 2019 deadline. 
 
In a circular issued, the market regulator has opened a special one-year window from 5 February 2026 to 4 February 2027 to enable transfer-cum-dematerialisation of such securities.
 
This move is aimed at investors whose genuine transfer requests were stalled due to procedural hurdles, documentation gaps or other operational challenges. Over the years, thousands of investors have been left in limbo, unable to access or monetise their rightful holdings after SEBI mandated compulsory dematerialisation for transfers.
 
Importantly, the special window will also cover cases where transfer requests were earlier rejected, returned or not acted upon by companies or their registrars due to deficiencies in process or paperwork. SEBI said the measure is intended to help investors regularise these cases and finally gain access to their property.
 
The circular comes into effect on 5 February 2026 and is being presented as a one-time opportunity. Investors who miss this window may find themselves permanently locked out of transferring these physical securities. SEBI has advised investors to carefully follow the prescribed process and ensure complete documentation while applying under the special window.
Comments
qsandy9999
1 month ago
Dud shares.....free us from their bondage
getkripal
1 month ago
The issue of dud shares lying in demat account was highlighted by Moneylife but nothing has happened yet. Hope SEBI looks into it too.
r_ashok41
1 month ago
The issue comes when the shares of the company is not in demat form then what to do.
It would be good if some directions is set for that also
abhay1955
1 month ago
Will SEBI look also into dud shares lying in demat accounts since long?
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