I had some physical share certificates of L& T which I have converted to Demat. Now I received mail from L& T that still there are some shares certificates ( As a bonus ) on my name which need to be Dmat. These certificates were never received to me.
Now, police are not ready to lodge FIR ( which is needed to get duplicate certificates) as certificates were never in my possession. Now Karvy is not responding. The last date of Demat is 31st March 2019.
Let me know how to proceed
Let the company prove with the letter stating that bonus shares were sent to you. Based on that you have to register the Police Complaint that you have not received such bonus shares and hence missing certificates need to be searched at police end. This is the only option for you.
The best part about opening a Demat Account is your financial instruments are stored securely in electronic form. There are no apprehensions concerning loss or damage of documents. On December 5, 2018, all kind of physical trading was closed. Investors had to convert their physical certificates to Demat Account or transfer them to their name. This directive came from SEBI in July 2018.
If you have physical bonus documents, irrespective of the year they were purchased, can be converted into Demat. There are no issues if the Depository Participant (DP) is regulated by the Central Depository. However, if the DP is registered under National Securities Depository Limited (NSDL), you cannot dematerialise the certificates.
You can convert the certificates in the usual way:
- Approach your DP where you have opened your Demat Account. They could be a broker or a bank or other financial institutes
- Fill the Dematerialisation Requisition Form (DRF). Verify it with the concerned authorities after filling the form
- The physical shares get converted into electronic form in 2 to 3 weeks
In certain cases, the DP may not accept your request for dematerialization. These instances include:
- If the share certificates are mutilated, and the information is not easily readable. In this case, you may have to send the certificates to the Issuer/ R&T agent and get new ones
- If you use a single DRF to dematerialize securities of more than one company
- If you use a single DRF for fully paid-up and partly paid-up securities