• The DP will punch the certificates on the company name so that it does not destroy any
material information on the certificate.
• The DP will then dispatch the certificates along with the request form and a covering
letter to the Issuer/ R&T agent.
• The Issuer/ R&T agent confirms acceptance of the request for Dematerialization in his
system DPM(SHR) and the same will be forwarded to the DM.
• The DM will electronically authorize the creation of appropriate credit balances in the
• The DPM will credit the clients account automatically.
• The DP must inform the client of the changes in the clients account following the
confirmation of the request.
• The issuer/ R&T may reject Dematerialization request in some cases. The issuer or its
R&T Agent will send an objection memo to the DP, with or without DRF and security
certificates depending upon the reason for rejection. The DP has to remove reasons for
objection within 15 days of receiving the objection memo. If the DP fails to remove the
objections within 15 days, the issuer or its R&T Agent may reject the request and return
DRF and accompanying certificates to the DP. The DP, if the client so requires, may
generate a new Dematerialization request and send the securities again to the issuer or its
R&T Agent. No fresh request can be generated until the issuer or its R&T Agent has
rejected the earlier request and informed NSDL and the DP about it.
• Holdings in those securities that have not yet been admitted for Dematerialization by
NSDL cannot be dematerialized. List of securities admitted for Dematerialization should
be verified before defacing the securities.
• Holdings in street name cannot be dematerialized. A new procedure for transfer and
demat to be done together has been conceptualized.
• The combination and sequence of names of holders as printed on the physical certificate
should be identical with the names initiating the Dematerialization request.
• Separate Dematerialization requests will have t