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Single agency should handle share records

MUMBAI JAN. 1. In a move to protect investors' interests, the Securities and Exchange Board of India has asked listed companies to entrust share registry work to only one unit, either to in-house department or SEBI approved registration and transfer agent before February 1.

"Many companies have internal units for handling physical share work and outside agencies for handling the word of electronic connectivity leading to delay in dematerialisation,'' SEBI said in a release here today.

Share reconciliation was also adversely affected due to lack of proper co-ordination among the agencies or departments concerned, the release added.

PTI

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