The SEBI on March 28, 2018 decided that except in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in the dematerialized form with a depository. This measure was to come into effect from December 5, 2018. Subsequently, SEBI has received representations from shareholders for extension of the date of compliance. In view of the same, SEBI vide its Press Release No. 49/2018 dated 03rd December 2018 has extended the deadline for compliance of the aforesaid requirement till 1st April, 2019.
https://www.sebi.gov.in/media/pressreleases/dec-2018/transfer-of-securitiesonly-in-demat-form-deadline-extended-tillapril-1-2019_41214.html