Mahindra Lifespace Developers Ltd. has filed a certificate with the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) to confirm its compliance with the Securities and Exchange Board of India (SEBI) (Depositories and Participants) Regulation 74(5) for the quarter ended June 30, 2024. This regulation pertains to the dematerialization of securities, which is the process of converting physical share certificates into electronic form.
The certificate, issued by the company's Registrar and Share Transfer Agent, KFin Technologies Limited, assures investors and regulators that Mahindra Lifespace Developers Ltd. has adhered to the required procedures for processing dematerialization requests within the stipulated timeframe.
KFin Technologies Limited confirmed that during the period from April 1, 2024, to June 30, 2024, it has duly verified and canceled the physical share certificates after dematerialization requests were approved. The company also ensured that the names of the depositories were substituted in the register of members as the registered owner.
This compliance not only demonstrates Mahindra Lifespace Developers Ltd.'s commitment to adhering to regulatory guidelines but also streamlines the process of shareholding for investors, making it more efficient and convenient.
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