National Securities Depository Limited
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September 30, 2018

arraw Investor Accounts - 17,700,239
arraw DP Service Centres - 30,729
arraw Demat Custody Value - 17,633,015
(Rs. crore)(US$ 2,432 billion)
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Home  :  Basic Services :  Withdrawal and Deposit of securities To / From a client account

Withdrawal and Deposit of securities To /From a client account

11.1. Dematerialisation of securities
11.1.1. Every Client shall submit to the Participant the securities for dematerialisation along with the Dematerialisation Request Form (DRF). The specimen of the DRF is given in Annexure D.
11.1.2. No dematerialisation request shall be entertained by the Participant other than from a registered holder of securities.
11.1.3. The Participant shall first ensure that the certificates submitted by its Client for dematerialisation belong to the list of securities admitted by the Depository as eligible for dematerialisation.
11.1.4. The Participant shall ensure that the DRF submitted by its Client is completely filled and duly signed.
11.1.5. The Participant shall forward the DRF to the Issuer or its Registrar and Transfer Agent only after ascertaining that the number of certificates annexed with the DRF tallies with the number of certificates mentioned on the DRF.
11.1.6. The Participant shall also verify the details of the certificates submitted for dematerialisation with the details filled up in the corresponding DRF.
11.1.7. The Participant shall ensure that the certificates submitted for dematerialisation are marked by the Client with the words "Surrendered for Dematerialisation" which should be at least four inches in length and one inch in width.
11.1.8. The Participant shall ensure the safety and security of the certificates submitted for dematerialisation till the certificates are forwarded to the Issuer or its Registrar and Transfer Agent.
11.1.9. The Participant shall cancel the security certificates by drawing two parallel lines across the certificate and punch two holes on the company name on the security certificates in the manner laid down in Annexure E before forwarding the same to the Issuer or its Registrar and Transfer Agent.
11.1.10. The Participant shall ensure that a separate DRF is filled in by the Client for securities having distinct International Securities Identification Numbers [ISINs].
11.1.11. The Participant shall ensure that a separate DRF is filled in by the Client for locked in and free securities having the same ISIN.
11.1.12. The Participant shall ensure that the Client submits a separate DRF for each of its accounts maintained with the Participant.
11.1.13. The securities which have been dematerialised shall be credited to the accounts maintained with a Participant only when the pattern of holdings in the account of the Client matches with the pattern of holdings as per the security certificates. The explanation of such pattern of holding is given in Annexure F.
11.1.14. In the case of securities which have been submitted for dematerialisation for which any objection memo has been received from the Issuer or its Registrar and Transfer Agent, the Participant shall facilitate the correction of such objections on a timely basis.
11.1.15. In case of a public or rights issue with respect to a security which has been admitted to the Depository to be held in dematerialised form, the Issuer or its Registrar and Transfer Agent shall provide the Clients with the facility to indicate their option between electronic and physical holdings in the share application form in the form and manner provided in Annexure G.
11.1.16. In the case of such issue in electronic form as specified above, the account of the Client maintained with the Participants shall be credited with such securities issued only when the pattern of holdings of such account matches with the pattern of application of the Client in the form specified above. The pattern of such holding has been explained in Annexure F.
11.1.17. Further to the Rules 11.1.1 to 11.1.16 above, the Participant shall process the request for dematerialisation of shares sent for transfer as per the procedure prescribed in the Guidelines for dematerialisation of shares sent for transfer issued by the Securities and Exchange Board of India. The Depository may notify from time to time the ISINs, which will be eligible for dematerialisation under the said Guidelines.
   
11.2. Rematerialisation
11.2.1. Every Client shall submit to the Participant the securities for rematerialisation along with the rematerialisation request form (RRF). The specimen of the RRF is given in Annexure H.
11.2.2. The Participant shall ensure that the Client submits a separate RRF for each security and for each account maintained by the Client with the Participant.
11.2.3. The Participant shall ensure that the RRF submitted by its Client is completely filled and duly signed.
11.2.4. The Participant shall ensure that the Client has sufficient free holdings its account maintained in electronic form before sending the RRF to the Issuer or its Registrar and Transfer Agent.
11.2.5. The Participant shall verify the signatures on each rematerialisation request with the signatures on the records held with it and authorise each rematerialisation form before forwarding it to the Issuer or its Registrar and Transfer Agent.
11.2.6. The Participant shall print the Client details from the DPM (DP) and enclose the same along with the RRF to the Issuer or its Registrar and Transfer Agent.
11.2.7. The securities issued at the time of rematerialisation shall be in the name of the person(s) who held the account in respect of which such securities have been rematerialised, as explained in Annexure I.
   
11.3. Redemption or Repurchase
11.3.1. In case the Issuer gives an option to the Client for repurchase or redemption of securities held in dematerialised form, the Client on exercising his option, shall submit to the Participant the Redemption or Repurchase Request Form (RF) in the format given in Annexure HA.
11.3.2. The Participant shall ensure that the client submits a separate RF for each security and for each account maintained by the client with the Participant.
11.3.3. The Participant shall ensure that the RF submitted by his client is completely filled and duly signed.
11.3.4. The Participant shall verify the signatures on each RF with the signatures on the records held with it.
11.3.5. The Participant shall ensure that the Client has sufficient free holdings in his account before executing the instructions and sending the RF to the Issuer or its Registrar and Transfer Agent.
11.3.6. The Participant shall execute the instructions for Repurchase or Redemption of securities in the DPM (DP).
11.3.7. The Participant shall authorise the RF, enclose the client details printed from the DPM (DP) and forward it to the Issuer or its Registrar and Transfer Agent.
11.3.8. The Issuer or its Registrar and Transfer Agent shall verify the form and the request, and if in order, confirm the request for Redemption or Repurchase in the DPM (SHR) and pay the proceeds directly to the Client.
   
11.4. Conversion of ISIN
11.4.1. In case the Issuer gives an option to the Client to convert his holding from one ISIN to the other, the Client for the purpose of exercising his option shall, submit to the Participant an ISIN conversion form (ICF) in the format given in Annexure HB.
11.4.2. The Participant shall ensure that the client submits a separate ICF for each account maintained by the client with the Participant.
11.4.3. The Participant shall ensure that the ICF submitted by his Client is completely filled and duly signed.
11.4.4. The Participant shall verify the signatures on each ICF with the signatures on the records held with it.
11.4.5. The Participant shall ensure that the Client has sufficient free holdings in his account before executing the instructions and sending the ICF to the Issuer or its Registrar and Transfer Agent.
11.4.6. The Participant shall execute the instructions for conversion of securities in the DPM (DP).
11.4.7. The Participant shall authorise the ICF, enclose the client details printed from the DPM (DP) and forward it to the Issuer or its Registrar and Transfer Agent.
11.4.8. The Issuer or its Registrar and Transfer Agent shall verify the form and the request, and if in order, confirm the request for conversion of ISIN in the DPM (SHR) and provide to the Depository the details of the request for conversion of ISIN.
11.4.9. On receipt of the conversion details, the Depository shall cause necessary credit entries to be made in the accounts of the Clients on a date requested by the Issuer or its Registrar and Transfer Agent (hereinafter referred to as Execution Date).
11.4.10. In case the records are rejected by the Depository, the Issuer or its Registrar and Transfer Agent shall send the rectified records to the Depository within seven days from the Execution Date. In case the Issuer or its Registrar and Transfer Agent fails to send the rectified records within seven days from the Execution Date, it shall proceed to issue securities in the physical form in respect of the unrectified records.
11.4.11. At the time of crediting the accounts of beneficial owners, if the accounts are either in the status of "to be closed" or "suspended for all", such allotments will be credited to "DP Suspense Accounts" by the Depository.
11.4.12. The Depository shall carry out a suspense reversal function and credit the relevant Client accounts after resolving the balances in "DP Suspense Accounts".
   
11.5. Dematerialisation of Government Securities
11.5.1. Every Client desirous of getting the physical securities converted into dematerialised form shall submit the securities to the Participant along with the Dematerialisation Request Form (DRF-GS) and the form of transfer prescribed by RBI. The specimen of the DRF-GS and the form of transfer prescribed by RBI are given in Annexure U and UA respectively.
11.5.2. No dematerialisation request as provided in Rule 11.5.1 above, shall be entertained by the Participant other than from a registered holder of securities.
11.5.3. Every Client desirous of transferring his holdings in dematerialised form held in an SGL account with other eligible entity, shall submit to the Participant SGL transfer documents as prescribed under Rule 7 of P.D.Rules of RBI duly executed by the other eligible entity along with the Dematerialisation Request Form (DRF-GS).
11.5.4. The Participant shall ensure that the DRF-GS submitted by its Client is duly filled and signed.
11.5.5. The Participant shall forward the DRF-GS to the Depository only after ascertaining that the face value of certificates annexed with the DRF-GS tallies with the face value of certificates mentioned on the DRF-GS.
11.5.6. The Participant shall also verify the details of the certificates submitted for dematerialisation with the details filled up in the corresponding DRF-GS.
11.5.7. The Participant shall ensure that the certificates submitted for dematerialisation are endorsed on the reverse, in the space provided, with the words "Tendered for Cancellation and Credit to SGL A/C. No. BYSL0838 of National Securities Depository Limited, Mumbai" in the manner laid down in Annexure UB.
11.5.8. The responsibility to ensure safety and security of the certificates submitted for dematerialisation will be on the Participant till the certificates are forwarded to the Depository.
11.5.9. The Participant shall not deface or mutilate the certificates either by punching holes or by any other means.
11.5.10. The Participant shall ensure that a separate DRF-GS is filled in by the Client for securities having distinct International Securities Identification Numbers [ISINs].
11.5.11. The Participant shall ensure that the Client submits a separate DRF-GS for each of its accounts maintained with the Participant.
11.5.12. The securities requested for dematerialisation shall be credited to the accounts maintained with a Participant only when the pattern of holding in the account of the Client matches with the pattern of holding as per the security certificates. The explanation of such pattern of holding is given in Annexure F. Provided however that, in case of transfer of holdings from an SGL account with other eligible entity, credit may be allowed when the securities are in the name of the other eligible entity.
11.5.13. In the case of securities which have been submitted for dematerialisation for which any objection memo has been received from the Depository, the Participant shall facilitate the correction of such objections on a timely basis.
11.5.14. In case of issue of securities in electronic form, the account of the Client maintained with the Participants shall be credited with such securities issued only when the pattern of holdings of such account matches with the pattern of holding given in the allotment statement. The pattern of such holding has been explained in Annexure F.
   
11.6. Withdrawal of Government Securities from the Depository
11.6.1. Every Client desirous of withdrawing the securities either by getting physical certificates or by transferring to an SGL account with other eligible entity shall submit to the Participant the Rematerialisation Request Form (RRF-GS). The specimen of RRF-GS given in Annexure UC.
11.6.2. The Participant shall ensure that the Client submits a separate RRF-GS for each security and for each account maintained by the Client with the Participant.
11.6.3. The Participant shall ensure that the RRF-GS submitted by its Client is duly filled and signed.
11.6.4. The Participant shall ensure that the Client has sufficient holdings free of encumbrances or lien in its account before sending the RRF-GS to the Depository.
11.6.5. The Participant shall verify the signatures on each rematerialisation request with the signatures on the records held with it and authorise each RRF-GS before forwarding it to the Depository.
11.6.6. The Participant shall enclose the Client details printed from the DPM and forward the same alongwith the RRF-GS to the Depository.
11.6.7. In case the request was for physical certificates, the Depository shall receive, from RBI, the physical certificates in its name and execute a form of transfer as prescribed by RBI in favour of the Client. The Depository shall confirm the acceptance of RRF-GS electronically and forward the physical certificates along with the form of transfer to the Client directly.
11.6.8. In case the request was for transfer to an SGL account with other eligible entity, the Depository shall confirm the acceptance of RRF-GS electronically to the Participant, after obtaining approval from RBI.