Dematerialization is a process where every the living thing documents are converted to electronic documents and are held in the Demat account. The depository is solely liable for maintaining every the electronic documents.
The process of dematerialization
The process starts considering commencement a Demat account.
You infatuation to fill a dematerialization demand form that is handy in the depository participant.
Once the demand is recognized every the associated bodily documents will be destroyed and the confirmation of dematerialization will be sent to the depository.
Again a sworn statement is sent put up to from the depository to the depository participant and next it will be reflected in the account electronically.
The amassed process will endure 15 to 30 days to conclusive from the date of consent of the demand form.
In order to carry the amass process one should compulsorily possess a Demat account else this is not feasible at all.
Why was dematerialization needed?
Handling of presidency that is partnered to shares, invoices etc. is getting hard morning by day. following they are huge in number it is categorically hard to addition and manage. That is why people started getting every documents in electronic format. Even we can see legal and legal obligations to dematerialize your invoices (obligations légales et juridiques pour dématérialiser vos factures) in many companies.
Tracking of the photograph album is extremely hard in imitation of innate documents. Especially if we want to track records that are generated several decades assist is in fact a hectic one. for that reason keeping cutting edge in mind, right now we are focusing more upon dematerialization. This is the obsession of the hour and furthermore it is very eco-friendly as the paper usage is maximum condensed next dematerialization. as a result we as a held responsible citizen should hold dematerialization.