SEBI constitutes Group to address issues relating to transmission of securities

The Securities and Exchange Board of India(SEBI) announced on 11th June 2007, that it has constituted a Group to suggest suitable measures to address issues relating to difficulties faced by the investors while dealing with transmission of securities in physical and dematerialised mode.

The Group will be headed by Shri R.K. Nair, Executive Director, SEBI. The other members of the Group are: Shri A P Bakliwal, President, Bombay Shareholders Association, Shri S.V.M.D. Rao, General Manager, SEBI and Shri Ananta Barua, Joint Legal Adviser, SEBI. Shri Jeevan Sonparote, Deputy General Manager, SEBI shall be the Member Secretary of the Group.

The terms of the reference of the Group shall be to:

examine various procedures followed by the listed companies and registrar and share transfer agents for transmission of physical shares

explore the implementation of the concept of either or survivor in depository system

suggest uniform norms and procedures relating to the transmission of physical shares, specifically with reference to documentation required for transmission.

The Group shall submit its report along with its suggestions within a period of two months.

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