Dematerialisation is the process of converting the securities held in physical form (certificates) to an equivalent number in electronic form and crediting the same to the beneficiary account of the client.
Procedure of Dematerialization:
The client who wishes to get his shares converted from physical to electronic form has to submit duly defaced Share certificate along with the Demat Request Form(DRF) to his/her Depository Participant(DP).
Ensure that the security mentioned on the certificate is eligible for Demat and is listed with NSDL or CDSL .You can check the eligibility at any of our nearest Janata Bank branch.
The client should deface the certificates by affixing the stamp of Surrendered for demat on the shares. This stamp is available at any of the Janata Bank Branches However it is advisable to deface the certificates only after confirming the eligibility of the shares. The list of shares available for demat is available at any of our branches.
Separate DRFs are to be filled for each company having a unique International Security Identification Number (ISIN). All the holders should sign on the DRF. The client should sign on the DRF exactly in the same manner as the sign registered with the Issuer or Registrar. In case if the signature registered with the DP is different to that registered with the Registrars than, it is advisable that both the signatures be made on the DRF
The shares received by Janata Bank are then entered in the system and send to the respective Registrar/company. The normal time the Registrar/ Company confirms / rejects a demat request is within 15 days from the date of receipt of physical shares
To check whether your account has been credited, you can call the demat department on the tel nos. mentioned below or you could log on to IDEAS for viewing your account holding. Alternatively you can also visit any of our branches to view your current balances.
Rejection of Demat Requests
The Demat request submitted may get rejected for various reasons either at the Demat Head Office or by the Registrar. The shares rejected by the Registrar are dispatched by them to the DP head Office. The rejected shares are then couriered by Janata Bank directly to the residence of the client for necessary rectification, stating the reason for rejection.
The client may rectify the error and re-submit the shares with a fresh DRF. The same applies to shares which are rejected by the Janata bank.
TRANSPOSITION cum DEMAT
In case of transposition–cum-dematerialisation, the client can get securities dematerialised in the same account if the names appearing on the certificates match with the names, in which the account has been opened, but are in a reverse order. The client can submit the security certificates along with the Transposition Form (Annexure OA) and DRF.
TRANSMISSION AND DEMATERIALISATION OF SECURITIES
In case of death of one or more of the joint holders, the surviving joint holder(s) can get the name of the deceased removed from the security certificate(s) and get them dematerialised by submitting the security certificates along with the Transmission Form (Annexure OB) and the DRF.