As per MCA notification dated 10th sept, 2018 every unlisted public Co. shall –
-issue the securities only in demat form.,and
- Facilitate dematerialization of all its existing securities
i.e., every holder of securities of an Unlisted public Co. who intends to transfer such securities on or after 02nd Oct, 2018 shall get such securities dematerialized before the transfer
Every unlisted public Company making any offer for issue of any securities or buyback of securities or issue of bonus shares or right offer shall ensure that before making such offer, entire holding of securities of its promoters, directors, key managerial personnel has been dematerialised in accordance with provisions of the Depostories Act, 1996 and regulations made there under.