“The Securities and Exchange Board of India vide Notification No. SEBI/LAD-NRO/GN/2018/24 dated 8th June, 2018 has come out with the SEBI (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2018 (effective date of implementation is 5th December, 2018), wherein it has mandated that the requests for effecting transfer securities shall not be processed unless the securities are held in the dematerialized form with a depository except in the cases of transmission or transposition of securities.