25 August 2013
My friend's father was brought some listed companies equity shares in his name and also in the name of his wife.
The companies paying dividends on its regularly, but unfortunately, his father died suddenly and my friend and his mother don't know anything about his fathers investment and they are not having any physical certificates of these share.
can anyone help me in this regards, how to dematerialise these equity share into his mothers demat a/c.
on my suggestion he has opened a demat a/c but we don't know the whole process.
25 August 2013
Procedure for dematerialisation to be followed by DP on receiving of request from the investor 1. In order to dematerialised the Physical Share Certificates, an investor will have to first open an account called as Demat A/c or Security A/c with any of the DP of his choice. 2. Obtain the Account No. from his DP. 3. Obtain the Dematerialised Request Form (DRF) from his DP. 4. This DRF, together with the Share Certificates desired to be dematerialised is to be submitted to DP. 5. DP, then issues an acknowledgement to the investor and afterwards follows the following procedure: (a) Defaces the Share Certificates by putting a rubber stamp "Surrendered for Dematerialisation" and by punching two holes on the name of the company on the Share Certificate. (b) Generates a Demat Request Number (DRN) through his Depository Participant Module (DPM) and fills the same in DRF at the appropriate place. (c) Sends an electronic communication to Depository viz. NSDL or CDSL, as the case may be, to the effect that so many shares of this company (Identified by ISIN) have been received for dematerialisation. (d) Sends the DRF and Share Certificates to the company by courier. The role of DP comes to an end with this but he must send a reminder in case credit of shares is not received in demat account of investors within a month. 6. The depository electronically downloads the particulars of demat request, received from DP and send to the electronic Registrar of the company so that these shares could be dematerialized. Ultimately, the company or its RTA, as the case may be, receives two kinds of communications: (i) DRF and Physical Share Certificates from DP. (ii) Electronic Download of Demat Request from depository through electronic Registrar.
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