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Dematerialisation of Securities |
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It is a process of converting the Physical Securities into electronic form. Such Electronic Securities do not have any Certificate or Distinctive numbers. I.e. the securities are fungible.
Since the transaction on Stock Exchanges can be dealt only in demat mode, it is advisable to hold the securities in electronic form. Further it would be easy to transfer to another account and would not attract any stamp duty.
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Dematerialisation Process |
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Submission of Certificates and demat request
- The certificates alongwith a Demat Request Form (DRF) needs to be submitted to HDFC Bank.
- Before submitting the DRF, kindly check with the branch whether the security which you would like to dematerialize is available for demat in the Depository Segment (NSDL / CDSL).
- If so, please arrange to submit one DRF per one company security per demat account. I.e. the combination the security certificate should be same on the demat account. Incase of interchanged positions, you may use the "Transposition" option. Please check with the branch ,incase you would like to opt for the same.
- Kindly ensure that the DRF is signed by ALL the account holders and the signatures are as provided in the demat account.
- Kindly arrange to deface the certificates as "Surrendered for Dematerialisation" before submitting it to the branch.
- Please submit the DRF in Triplicate and obtain the acknowledgement from the branch.
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Upon receipt of the DRF and certificates, HDFC Bank will
- Verify the names in the Demat account and the certificates.
- Verify the signature of all account holder . However the Signature on the DRF / Account has to match with the specimen recorded with the company / registrar. If not, the company / registrar might reject the request.
- Forward the certificates to the Registrar/Company for further processing/credit to your account.
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Dematerialisation Credit |
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Upon receipt of the securities certificates and demat request form (DRF), the Registrar / Company would process the request and arrange to credit the equivalent quantity into your demat account. Normally this process will take around 30 days. However the same may vary from Registrar / Company to another.
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You may verify your demat transaction statement which is sent on a Monthly basis incase of any transaction occurred during the month OR in the bank's website, if you are a Banking Customer and have linked your demat account to the same. The status will be reflected as "Pending Demat" till the time the electronic credit is made to your account and once the credit is made, it will be reflected / added in the beneficiary balance.
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If the securities are not credited within 30 days, you are requested to contact us. An email can be sent dphelp@hdfcbank.com
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Rejection of Demat Requests |
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Incase the securities are rejected by us, the certificates would be sent to your address registered in the DP account with the reason(s) for rejection.
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Incase the securities are rejected by the Registrar / Company, the certificates would be returned to us by them and inturn we will desapatch it to your address registered in the DP account.
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You may arrange to resubmit the securities to us for dematerialisation, after necessary rectifications. Please ensure that a fresh DRF is submitted and not the one which was already rejected.
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Transmission -cum- Demat |
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Incase of certificates held alongwith a person who has deceased, the remaining holders can submit the certificates alongwith a notarized copy of death certificate of the deceased. Kindly ensure that the combination of names on the certificates, excluding the deceased and on the account is exactly same.
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Ensure that an application as per format is submitted alongwith each DRF.
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Disclaimer:
Whatever have been stated above are in the good interest of the Investor / Demat Applicants / holders to provide a brief picture about the depository system. You are requested go through the guidelines of the depositories before taking any further action. For detailed guidelines, you are requested to approach your nearest HDFC Bank branch. HDFC Bank will not be responsible for any misunderstanding / act based on the above. Also HDFC Bank might ask for additional information / documentation than what has been stated above to process your application / instruction.
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