NSDL Connectivity

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Ruchi (Querist)
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01 October 2010 Can any one help me with the following queries...

>Can a private company get Connectivity with Depository.
> If the company gets NSDL connectivity and dematerialize all its existing and future shares will that violate the provision of section 3(i)(iii) (ie.
Restriction on transfer of share) as shares which are in electronic form can be transferred freely without any restriction.
>Are we violating the provisions of Law by obtaining NSDL connectivity.
> What precautions do we have to take.

Ajay Mishra

Ajay Mishra (Expert)
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01 October 2010 Dear Ms. Ruchi

Yes a private company can registered with NSDL and get connectivity, for this a tripartite agreement will be executed with Company RTA and NSDL.

It is not mandatory that for connecting with NSDL all share should be in demat form at present or in future, it will depend on shareholder that he will kept their shares in demat form of physical form.

I think, you are not violating of any provision for obtaining connectivity with NSDL. You will provide a facility to its shareholders to kept their shares in electronic form.

Regards

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