December 31, 2021
Investor Accounts 2,50,25,252
DP Service Centres 36,184
Demat Custody Value 301.21 (₹ Lakh Crore)
(US$ 4050 billion)

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Processing of Demat Requests in Case of Account Holders Name not Matching excatly with Physical Certificate

It was decided in the meeting held by SEBI on December 17, 1998, that demat requests received from client(s) with name(s) not matching exactly with the name(s) appearing on the certificates merely on account of initials not being spelt out fully or put after or prior to the surname, should be processed, provided the signature(s) of the client(s) on the DRF tallies with the specimen signature(s) available with the Issuers or its R & T agent.

To give an example, the shareholder may have opened the depository account in the name of Sushil Ramesh Shah but his name on the share certificate may appear as S. R. Shah or Sushil R Shah etc. Such requests should be treated as good for dematerialisation , provided the DP verifies the signature(s) and finds that it matches. While doing so, the DP should ensure compliance of all the Laws, Rules and Regulations prescribed under the Depositories Act, SEBI Regulations, NSDL Bye Laws, Business Rules and Operational Guidelines.

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