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Question
Mr. Kishore wants to demat his 25 shares of Hero Company Ltd. bearing certificate no. 100 and distinctive no. 76-100:
- Which form is he required to fill as a written request to the DP-DRF or RRF?
- Does he have to fill instrument of transfer if he wishes to transfer the same after demat?
- Does he have to quote certificate number and distinctive number, if he wishes to transfer his shares after it is in demat form?
Solution
- Mr. Kishore has to fill the ‘Demat Requisition Form’ (DRF) as a written request to the DP.
- After demat, if he wishes to transfer the shares, he does not have to fill the instrument of transfer. However, he will have to submit a delivery instruction slip (DIS) to the DP.
- The securities in demat form are fungible. They do not have any certificate no. or distinctive no. So, Mr. Kishore does not have to quote any such number after the shares are converted in demat form.
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