Rematerialisation
Rematerialisation is the process by which a client can get his electronic holdings converted into physical certificates. The client has to submit the rematerialisation request to the DP with whom he has an account. The DP enters the request in its system which blocks the client's holdings to that extent automatically. The DP releases the request to NSDL and sends the request form to the Issuer/ R&T agent. The Issuer/ R&T agent then prints the certificates, despatches the same to the client and simultaneously electronically confirms the acceptance of the request to NSDL. Thereafter, the client's blocked balances are debited.
- A client can rematerialise his dematerialised holdings at any point of time.
- The rematerialisation process is completed within 30 days.
- The securities sent for rematerialisation cannot be traded.
- The client will submit a request to the DP for rematerialisation of holdings in its account.
- On receipt of the request form, the DP will verify that the form is duly filled in and issue to the client, an acknowledgement slip, signed and stamped.
- The DP will verify the signature of the client as on the form with the specimen available in its records.
- If the signatures are different the DP will ensure the identity of the client.
- If the form is in order the DP will enter the request details in its DPM (software provided by NSDL to the DP). While entering the details, if it is found that the client's account does not have enough balance, the DP will not entertain the request.
- The DP will intimate the client that the request cannot be entertained since the client does not have sufficient balance.
- If there is sufficient balance in the client's account, the DP will enter the request in the DPM and the DPM will generate a Rematerialisation Request Number (RRN).
- The RRN so generated is entered in the space provided for the purpose in the rematerialisation request form.
- Details recorded for the RRN should be verified by a person other than the person who entered the data. The request is then released to the DM by the DP.
- The DM forwards the request to the Issuer/ R&T agent electronically.
- The DP will fill the authorisation portion of the request form.
- The DP will then despatch the request form to the Issuer/ R&T agent.
- While processing the request, the Issuer/ R&T agent may report some objections. Depending on the nature of objection, the Issuer/ R&T agent may reject the request or process it partially, seeking rectification for the remaining, and send an objection memo to the DP.
- The Issuer/ R&T agent accepts the request for rematerialisation prints and despatches the certificates to the client and sends electronic confirmation to the DM.
- The DM downloads this information to the DPM and the status of the rematerialisation request is updated in the DPM.
- The DP must inform the client about the changes in the client account following the acceptance of the request.
- The client has to mention the lot type in the rematerialisation request form.
- Securities sent for rematerialisation cannot be traded.
- Before initiating a rematerialisation request in a security the client must ensure that he has sufficient free balances in that security in his depository account.
