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Dematerialisation Information  

Dematerialisation of Shares

As you may be aware that the shares of MFL are under compulsory dematerialisation (demat) segment of trading as per SEBI directives. This means, MFL shares can be purchased / sold at the Stock Exchanges only in demat form. Shareholders are therefore advised to avail the demat facility.

Dematerialisation

Dematerialisation is the process of converting physical share certificates into electronic form i.e. crediting of equivalent number of shares to your depository account electronically.

Depository Account

For dematerialisation of shares you have to open a depository account with a Depository Participant (DP) having connectivity with National Securities Depository Ltd (NSDL) / Central Depository Services (I) Ltd (CSDL). You are free to open an account with any of the DPs for demat.

Benefits of Dematerialisation

  • No risk of loss / misplacement / theft / damage of share certificates
  • No risk of bad deliveries
  • No stamp duty on transfer of shares
  • Faster transfer of shares


Steps involved for Dematerialisation of shares

1. Open a demat account with any of the Depository Participants (DPs)

2. Submit demat request form (DRF) (duly signed by all the holders) along with the share certificates to the DP.

3. Obtain acknowledgement from the DP for having delivered the share certificates

4. Receive a confirmation statement of holding from your DP.

5. PLEASE DO NOT SEND THE SHARE CERTIFICATES / DOCUMENTS FOR DEMAT TO THE COMPANY OR SHARE TRANSFER AGENT OF THE COMPANY

In order to obtain the complete list of DP locations and their comparative charge structure, you may log on www.nsdl.co.in / www.cdslindia.com or else you may write to them for the same.


 
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