Administration Manual - B.E.S.T. Undertaking.

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Corporation/Clearing House, Registered & Transfer Agent are registered with
SEBI and eligible to act as Depository Participants.
b) Issuer Company : As per Depository Act 1996, any security i.e. shares,
debentures, warrant, Bonds, Government Securities paper, units of mutual funds
etc. are eligible for admission in the depository for dematerialization. If the issuer
proposes to admit security, an agreement is signed between Depository Issuer
Company and issuer. Only SEBI Registered Registrar and Transfer agent can act
as Depository Registrar.
c) Clearing House/Clearing Corporation : As in the case of physical securities, the
Clearing Corporation/Clearing House facilitates clearing and settlement of trades
in electronic form.
The salient features of holding securities in electronic (Demat) form are as under :-
1. No stamp duty on transfer of securities in demat form.
2. Immediate transfer of Securities and the risk associated with delivery of
securities in physical form is eliminated.
3. In physical delivery, investor needs to satisfy about the genuineness of the
securities being delivered. It is not applicable in demat form.
4. Saving in valuable time spent in maintaining manual statement of account,
follow up, reconciliation etc.
5. Audit of holding is simplified.
6. In physical form, splitting of the certificate is time consuming. In demat
form any number of securities can be sold/purchased.
7. Ability to see all investment in a single statement of holding.