The transfer of securities held in physical form is not permitted from April 1, 2019.
Gaurav Pingle, a Pune-based company secretary, explains the implications of the Companies (Amendment) Act, 2019, which contemplates dematerialisation of shares of private companies:
To reactivate your demat account, you will have to fill a reactivation form and submit Know Your Customer (KYC) details. Your DP will also verify if your signatures match the original records