single account or demat account

#1
Purchased company debentures in 1986.While purchasing the debentures,my brother name was indicated as second holder with out his signature on the application.Later,they were converted as shares and getting dividend in my name when ever it is declared.Now,the shares are in physical form and to be dematerialized. Please indicate whether they require joint or single demat account.It should be kept in mind that my brother name is reflected and his signature is not given on the application.
 

MewarLion

Active Member
#2
In case physical share certificate has both the Name , Demat account needs to be opened in both the name and shares can be dematarilised in this account .

In case physical certificate has one name but registrar record has both the name than also Demat account needs to be opened in both the name and shares can be dematarilised in this account .

Whether second holder signature are available with registrar or not really does not matter.


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#4
In such case for converting physical shares into demat account, an user do these things.

  • Open an account with a broking company
  • Submit your physical certificates to the company
  • Then the broking company will intimate the depository regarding the request and submit certificates to the registrar of the issuer company
  • The registrar will then confirm the dematerialization request from the depository
  • After dematerializing the certificates, the registrar, followed by the depository will update the accounts
  • Finally, the broking company will update the demat accounts of the investors
 
#5
Thanks for outlining the whole procedure.
I guess in line " Submit your physical certificates to the company" by company you mean broking company
Also, do we have to fill some form or an application.
 

sabkaview

PHYSICAL SHARES consultation
#6
Physical share certificate for demating need to be submitted to DP (depository participant )along with a demat request form .please note that the name/names on demat account should be exactly as per share certificate .
if not possible to open such demat account due to name on pan card/aadhar card differ best is to get the share transferred physically on the exact name of demat account and than get it demated.
 

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