SEBI Circular for the requirement of PAN card for transfer of shares in physical form

The Securities & Exchange Board of India (SEBI) vide their Circular No. MRD/DoP/Cir-05/2009 dated May 20, 2009 has made it mandatory for the transferee(s) to furnish copy of attested PAN card to the Company/RTA for registration of transfer of shares. No transfer of any shares in physical form will be effected unless a copy of PAN Card along with duly executed transfer deed(s) and share certificate(s) is submitted by the transferee.

In view of the above Stock Exchanges have appended the following clause as Clause 11(c) to the Listing Agreement:

Clause 11(c) – the transferee(s) furnish a copy of their PAN card to the Company/ RTA’s for registration of transfer of shares, for securities market transactions and off-market / private transactions involving transfer of shares in physical form.