SEBI Cuts Down Time for Transfer of Shares to 15 Days

The market regulator, Securities and Exchange Board of India (SEBI) has reduced the time for share transfers to 15 days from existing one month. This time period of 15 days is applicable to transfer of equity as well as debt securities. The new directive will come into effect from 1st October, 2012, to expedite the transfer process.

In a circular, as SEBI announces, this decision is fairly taken in consultation with Registrars Association of India, Stock Exchanges and market participants. This circular is issued in exercise of powers conferred under SEBI Act, 1992, to protect the interests of investors.