Muthoot Securities, Group Company of The Muthoot Group announced that it will help people to transfer their physical shares into demat for free. As per SEBI notification, after 5th December 2018, unless the securities are held in the dematerialized form with a depository, the securities cannot be transferred to another person. Consequently, for affecting any transfer, the securities shall mandatorily require to be in Demat form.
According to George Alexander Muthoot, Managing Director, The Muthoot Group, “Currently, approximately only 3 crore people have demat accounts. There are majority of shareholders still un-tapped that hold securities of listed companies in physical form, senior citizens being a large part of it.”
He further added, “Muthoot Securities being a Depository Participant of NSDL and CDSL has arranged to provide required customer assistance and support for conversion of such physical share certificates to electronic form, free of cost, for a period till 30th November 2018.”
Dematerialization request need to be submitted to Registrar and Transfer Agent (RTA) through the customer’s DP. RTA will process it within 21 working days. The charges for converting the physical to demat form will include postage charges of Rs.50/- plus GST upto 5 certificates and thereafter Rs.10/- per certificate. We are providing the service for free of cost. To avail the services one can go to any of the Muthoot Finance or Muthoot Securities offices present across India.
more recommended stories
Alila Diwa Goa Appoints Rohit Pushpavanam as Executive Chef
PANJIM: Alila Diwa Goa is pleased.
ARBL Posts Net Profit Growth of 13% in Q1 FY 19.
TIRUPATI: Amara Raja Batteries Limited, India’s.
TransUnion CIBIL Study Reveals Stock of Distressed and High Risk Debt
MUMBAI: TransUnion CIBIL continuously monitors banking.
Vivo Celebrates Onam with Attractive Consumer Offers
MUMBAI: Vivo, the premium global smartphone.
Amazon India celebrates National Handloom Day
BENGALURU: In line with its vision.
Domain Experts from Samsung Electronics Mentor 20 Indian Startups
BANGALORE: Samsung Electronics has organized the.
CGI Launches Digital Literacy Centre in Partnership with NASSCOM Foundation
BANGALORE: CGI, in partnership with NASSCOM.
KSUM to Organise National-Level Coconut Challenge
THIRUVANANTHAPURAM: Kerala’s ubiquitous coconut will test.
TiE to Offer Platform for Maker Village Startups to Showcase Products Before Industry
KOCHI: The IndUS Entrepreneurs (TiE) will.
Tablez Inks Strategic Cooperation Agreement With YOYOSO
YIWU (CHINA): Tablez, the organized retail.