Ministry of Corporate Affairs (MCA) has notified vide its notification dated 10th September, 2018 that all unlisted public company shall issue securities only in dematerialised form and facilitate dematerialization of all its existing securities.
The effective date for the notification is 2nd October 2018.
All transfers of shares shall be in the dematerialisation form only of and after 2nd October 2018.
All unlisted public companies shall secure International Security Identification Number (ISIN) for each type of securities through Registrar and Transfer Agent (RTA) and shall inform all its existing security holders about such facility.
Thereafter, security holders shall dematerialise their existing securities by making necessary application to the depository participant.
In view of the above notification dated 10th September, 2018 every public unlisted company will have to make compliance and appoint Registrar & Share Transfer Agent (RTA).