Section 118 in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
118. Inscription or recording of non-transferability.
- The certificates of specified securities which are subject to lock-in shall contain the inscription "nontransferable" and specify the lock-in period and in case such specified securities are dematerialised, the issuer shall ensure that the lock-in is recorded by the depository.
