Understanding the Procedure for Conversion of Physical Shares into Demat Shares: Requirement under the Companies (Prospectus & Allotment of Securities) Second Amendment Rules 2023.
On October 27th 2023, the Ministry of Corporate Affairs (“MCA”) issued the Companies (Prospectus & Allotment of Securities) Second Amendment Rules 2023 (“Amendment Rules”) mandating the dematerialization of all existing securities and issuance of securities in dematerialize form by private companies, other than small companies and government companies, by and from September 30, 2024 (i.e. …