Shareholders holding physical share certificates should convert it into dematerialized form by April 1, 2019 (earlier December 5, 2018):-
👉 The shareholders who continue to hold shares and other types of securities of listed companies in physical form even after 01.04.2019, will not be able to lodge the shares with company / its RTA for further transfer.
Note: Only the requests for transmission and transposition of securities in physical form, will be accepted by the listed companies / their RTAs.
👉 In this case, Shareholder will not be able to sell or transfer your shares after April 1, 2019. You will have to wait for demat of shares before being able to sell/transfer them.
👉 Transmission and transposition of shares held in paper form will continue to be allowed. Transmission happens upon death of any or all shareholders. Transposition means change in ownership pattern; eg. From combination A & B (in this order) to B & A or from A & B & C to B & A & C. Though these will still be possible in paper form even after 31st March, 2019, conversion to demat is still suggested for many other benefits it offers.
👉 Hence, all the securities holder of shares of Listed Companies are required to dematerialized their physical shares before 01.04.2019. After 1st April 2019 share cant be transfer if shall be in physical mode.