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Understanding the process of De-materialisation and key things to keep in mind
Summary: Dematerialisation is the process of converting your physical share certificates and securities into their electronic form. Read the article below to know more about its features and certain precautions to be taken.
Dematerialisation is the process of conversion of physical share certificates and securities into electronic form.
An investor intending to dematerialise its physical share certificates and securities needs to have a Demat Account with any SEBI registered Depository Participant (DP). Further, the investor needs to deface and surrender the physical share certificates and securities registered in its name to the DP along with the Demat Request Form (DRF). After generating the demat request, the DP sends the physical share certificates and securities to the concerned Issuer/ R&T agent for further processing. If the Issuer/ R&T agent finds the physical share certificates and securities in order, it registers the concerned depository (NSDL/CDSL) as a registered owner and investor as a beneficial owner of the shares and securities and communicates the confirmation to NSDL/CDSL of the demat request electronically. On receiving this confirmation, the shares and securities are credited to the depository account i.e. demat account of the investor with the DP.
Features:
- Shares and securities which are not admitted with NSDL/CDSL for dematerialisation cannot be dematerialised. Holdings in only those shares and securities that are admitted with NSDL/CDSL for dematerialisation can be dematerialised
- Physical share certificates / Holdings are required to be registered in the name of the account holder(s) in order to be dematerialised
- The holding pattern on the Physical Share certificates and securities should match the holding pattern in the demat account
- By using the 'Transposition cum Demat facility', the same set of joint holders holding Physical Share certificates and securities in a different sequence of names can dematerialise the same in the same account even though share certificates and securities are in a different sequence of names. For example, if there are two share certificates, one in the name of X first and Y second and another in the name of Y first and X second, then these shares can be dematerialised in the depository account, which is in any name combination of X and Y, i.e., either X first and Y second or Y first and X second. Separate accounts need not be opened to demat each share certificate and securities. If physical share certificates and securities are in the name combinations of X and Y, they cannot be dematerialised into the demat accounts of either X or Y alone
- One must check the demat performance of the companies whose physical shares and securities are to be given for dematerialisation before submitting the dematerialisation request to the DP. The details are available on NSDL/CDSL website.
- Demat requests received from a client (registered owner) with the name not matching exactly with the name appearing on the share certificates and securities (merely on account of initials not being spelled out fully or put before or after the surname) can be processed, provided the signature of the client on the Dematerialisation Request Form (DRF) tallies with the specimen signature available with the Issuers or its R & T agent
- A client may, in the regular course, receive a credit of shares and securities in the demat account in about 30 days from the date of submission of the demat request to the DP
Precautions:
- The list of securities admitted for dematerialisation should be verified before defacing the securities
- The combination of names of holders as printed on the physical share certificate and securities should match with the names of holders of the demat account from which the dematerialisation request is being initiated
- Separate dematerialisation requests will have to be filled for:
- Locked-in and free holdings
- Holdings locked in for different reasons
- Fully paid-up and partly paid-up holdings
- Holdings in the different ISINs of a company
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Metra Trust or its affiliates to any licensing or registration requirements. Metra Trust shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.