SEBI has introduced a one-year special window to promote ease of investing and safeguard investor rights by enabling transfer and dematerialisation of physical securities that were sold or purchased prior to April 1, 2019.

The special window will be open from February 5, 2026 to February 4, 2027, providing relief to investors who could not complete transfers earlier due to documentation gaps, procedural deficiencies, or similar issues.

This facility is also available for transfer requests that were previously submitted but were rejected, returned, or not processed for any reason.

All securities transferred under this window shall be mandatorily credited only in dematerialised form to the transferee’s demat account. Further, such securities will be subject to a one-year lock-in period from the date of registration of transfer, during which they cannot be transferred, pledged, or lien-marked.

For clarity regarding the applicability of this window, below matrix may be referred to:

Documents Required to Avail the Special Window

The transferee shall be mandatorily required to submit the following documents

• Original security certificate(s)
• Transfer deed executed prior to April 01, 2019
• Proof of purchase by transferee, as may be available
• KYC documents of the transferee (as per ISR forms)
• Latest Client Master List (‘CML’), not older than 2 months, of the demat account of the transferee, duly attested by the Depository Participant; and
• Undertaking cum Indemnity as per SEBI Prescribed Format.

Important Notes

• Cases involving disputes between transferor and transferee will not be considered in this window and may be settled by transferor and transferee through court/NCLT process.
• securities which have been transferred to Investor Education and Protection Fund (IEPF) shall not be considered under this window for processing.
• The Company / RTAs shall process the transfer requests within 70 days from the date of receipt of request from the transferee with complete documentation.

Click here for SEBI Circular HO/38/13/11(2)2026-MIRSD-POD/ I/3750/2026