Securities And Exchange Board Of India - Subsection
Section 40(3) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(3)On receipt of proper documentation, the listed entity shall register transfers of its securities in the name of the transferee(s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of fifteen days from the date of such receipt of request for transfer:Provided that the listed entity shall ensure that transmission requests are processed for securities held in dematerialized mode and physical mode within seven days and twenty one days respectively, after receipt of the specified documents:Provided further that proper verifiable dated records of all correspondence with the investor shall be maintained by the listed entity.
