Transposition can be resorted to change the order of holders of the shares inter se i.e. the first holder may become second holder or third holder and vice versa. All requests for transposition should be sent to the Registrar alongwith the duly filled in transfer deed without any stamping. Transfer deed should be signed by all the holders.

SEBI vide circular no.SEBI/MRD/DoP/SE/RTA/Cir-03/2010 dated January 07, 2010 has clarified that it shall be mandatory to furnish a copy of PAN in the case of Transposition of shares - when there is a change in the order of names in which physical shares are held jointly in the names of two or more shareholders

Kindly ensure that the documents sent for transposition of shares are accompanied by the copy of PAN card.