28 March 2017
Please provide me the procedure for dematerialisation of shares of unlisted public company. whether amendment has to be done in the Articles with respect to dematerialisation of shares??
29 March 2017
COMPANY SHALL ALTER THE ARTICLES OF ASSOCIATION FOR DEMATERLIZATION OF SHARES BY PASSING SPECIAL RESOLUTION. COMPANIES SHOULD REGISTER THEMSELVES WITH NSDL AND CDSL. IF REGISTRATION IS SUCCESSFUL , THEN DEPOSITORIES WILL PROVIDE WITH INTERNATIONAL SECURITIES IDENTIFICATION NUMBER . BENIFICIAL OWNER HAS TO OPEN DEMAT ACCOUNT WITH DP AND HAS TO OBTAIN ACCOUNT NO. BENIFICIAL OWNER HAS TO FILL THE DEMATERILIZATION REQUEST FORM AND SUBMIT THE SAME ALONG WITH PHYSICAL CERTIFICATE TO DP DP WOULD VERIFY THE FORM AND WILL SEND THE REQUEST TO NSDL , ACDSL AND TO REGISTRAR AND THE TRANSFER AGENT RTA WILL VERIFY AND ACCEPT THE REQUEST ONCE THE REQUEST HAS BEEN SUCCESSFULLY MADE , DP WOULD DEFACE AND MALUATE THE PHYSICAL CERTIFICATE AND WILL ISSUE DEMAT REQUEST NUMBER AND ELECTRONICALLY TRANSMIT THE SAME TO THE DEPOSITORY AND COURIER THE NUMBER AND THE SHARE CERTIFICATE TO THE COMPANY ON RECEIVING THE CONFIRMATION , DEPOSITORY WILL CREDIT THE NO OF SECURITIES IN THE DEMAT ACCOUNT OF BENEFICIAL OWNER
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