Dematerialization is a process where every the mammal documents are converted to electronic documents and are held in the Demat account. The depository is solely held responsible for maintaining all the electronic documents.
The process of dematerialization
The process starts later than establishment a Demat account.
You craving to occupy a dematerialization request form that is user-friendly in the depository participant.
Once the demand is attributed all the united living thing documents will be destroyed and the affirmation of dematerialization will be sent to the depository.
Again a proclamation is sent encourage from the depository to the depository participant and then it will be reflected in the account electronically.
The amassed process will assume 15 to 30 days to total from the date of acceptance of the request form.
In order to carry the cumulative process one should compulsorily possess a Demat account else this is not possible at all.
Why was dematerialization needed?
Handling of government that is associated to shares, invoices etc. is getting difficult morning by day. as soon as they are huge in number it is entirely difficult to accretion and manage. That is why people started getting all documents in electronic format. Even we can see fiscal dematerialization of invoices (dématérialisation fiscale des factures) in many companies.
Tracking of the wedding album is definitely difficult afterward innate documents. Especially if we want to track records that are generated several decades back is in fact a hectic one. appropriately keeping well ahead in mind, right now we are focusing more on dematerialization. This is the need of the hour and after that it is very eco-friendly as the paper usage is maximum reduced considering dematerialization. correspondingly we as a held responsible citizen should withhold dematerialization.