zankhana Trivedi (Company Secretary) (462 Points)
22 November 2010Hi,
Can anyone guide me on below given query??
There are two companies say "A" & "B". Company "B" is a holding company of Company "A".
Company B is having share holding in Company "A" in demat form. Now Company B wants to have holdings in physical form. So Company B has sent rematerialisation request to its DP. I want to know whether Company B will have to pass the resolution in its meeting for rematerialization or can simly take note of the same in the meeing..
Regards
udit sharma
(Company Secretary)
(2303 Points)
Replied 22 November 2010
Hi.....
In my opinion the Company should pass a reolution in the Board Meeting for rematerialization of the shares held by it and should provide a Certified True copy of the same to the DP along with the Remat request form!
This is my opinion and the views of other experts are welcome:-)
God Bless
Udit Sharma
Priya Sharma
(Company Secretary & Student.MBA)
(998 Points)
Replied 22 November 2010
I second Mr. Udit Sharma
If you go through the nsdl site, it says that a rematerialisation form is sufficient for converting the dematerialised shares back to physical shares, however as a good corporate practice you can attch the Board Resolution along wiht the form.
Regards
Priya Sharma
Ajay Mishra
(Company Secretary)
(74342 Points)
Replied 23 November 2010
Procedure for Rematerialisation
1. The investor must fill up a Remat Request Form (RRF) and give it to DP.
2. The DP will forward the request to depository after verifying that the shareholders has the necessary balances. If it found that clients account does not have enough balance, demat request should be rejected and client be intimated accordingly.
3. The request should be entered in DPM system and Remat Request Number(RRN) generated should be filled on RRF.
4. Depository in turn intimate the RTA/Company.
5. RTA/Company will print the certificates and dispatch the same to the investor.
Regards
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