Physical Shares are those shares which are held in physical certificates by the Investors. Demat is an electronic form of preserving shares; that is paperless trading. Dematerialisation is the process by which a person can get physical certificates converted into electronic mode.
Investments in shares and debentures can be held in electronic or dematerialised form with a depository which holds securities (shares, debentures, bonds, government securities, mutual fund units etc.) of investors in electronic form at the request of the investors. In India, there are two entities—National Securities Depository and Central Depository Services.
Unlike in physical shares, there is no scope for bad delivery or fake shares when we hold shares in demat form. Further, unlike physical certificates, there is no need to send the shares purchased to the company for transfer. Therefore, there is no scope for delay in transfer or for loss of share certificates in transit. There is considerable reduction in paperwork and transaction cost in demat mode.
A Shareholder can view all his investments in listed companies or mutual funds in single account. Shareholder will receive all the corporate benefits like rights, bonus shares directly into his demat account and dividend into bank account registered in his demat account.
Process involved in dematerialization?
A Shareholder can get his shares dematerialized by submitting a Dematerialization Request Form (DRF) to its Depository Participant(DP). A DP is usually an intermediary between a shareholder and the Depository i.e. NSDl & CDSL. After submission of DRF, the physical share certificates are verified by the concerned authorities. Upon verification, the DRF team will convert all the physical share certificates into electronic form. It takes approximately 2-3 weeks for the DRF team to convert physical shares into Demat Form or electronic form. In case of death of a shareholder before converting his / her shares into demat mode, legal heirs will have to transmit the shares in their name and then get the dematerialization done in their respective names. In case of loss of physical shares, the shareholder will have to get the duplicate share certificates issued in his name from the Company. After receiving the duplicate share certificates, the shareholder can get his shares dematerialized by filling the DRF.
It's easy to invest in any private or government scheme but recovering your money or claim in need is a herculean task. This near to impossible task of recovery will become easy for you or your legal heirs if you follow the mantra of 'secure investment'.
'Invest and forget' this age old adage is coming heavily on investors or their legal heirs after their demise, as getting back the investment is really a herculean task in India. The case becomes more complicated if documents are lost or address is changed or death of investor. We get several such cases where investors or legal heirs are running from pillar to post to get back the hard earned money invested by them or their demised relatives. It happens in all the financial instruments from company shares to bank deposits to provident funds, mutual funds, debtors etc.
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According to data available with various government departments / comapnies investments amounting over three lakh crore is lying in physical papers / unclaimed with private and government bodies. We may call it a 'black hole' of investor wealth. There are no takers for crores of money stuck up. Literally! various financial instruments such as Old Shares, Mutual Funds, Old Insurance, In-operative bank accounts, Provident Funds and post office deposits carries the 'black hole' of unclaimed money that nobody claims year after year. Some data suggests that more than Rs 2 Lakhs crore stuck up in shares which are in physical form.
If we notice beyond the capital markets, the amount is no less mind-boggling. A whopping Rs 60,000 crore is lying in equally crucial instruments of dormant bank accounts, inoperative provident funds, post office savings schemes and matured insurance policies, involving lakhs of investors. "This is such an issue that bothers every household. We prefer to ignore it despite the chronic presence in our daily life in absence of any solution." People invest their hard earned money so that their spouses or children get it after their sudden. Sadly, in cases of casualty and need of the money, the family suffers.
With whopping unclaimed investment in the country lot of fraud has been uncovered where in the original investor's money syphoned into the coffers of fraudsters. To counter this fraud the government has taken the following admirable initiative in recent past to protect the investment but the investors or their legal heirs are not aware about how to approach and follow up with these bodies to get back the blocked money.
Shares: As per the latest notification from the Government of India, all shares in respect of which dividend has not been paid or claimed by the shareholder for 7 consecutive years or more, all these shares will be transferred to Investor Education and Protection Fund (IEPF) suspense account set up by the Central Government. IEPF just holds and protects the investment to avoid any fraudulent transfer of investor's hard earned money. If the shares are very old and company is non traceable, the investors can approach IEPF.
Provident Fund: The government has reversed a five-year-old decision and announced that inoperative employees provident fund (EPF) accounts will earn interest, a move that will cheer millions of workers. Move will benefit more than 40 million holders of inoperative accounts; over Rs 32,000 crore is parked in such accounts. As almost all the records are digital, you can approach this body to get your PF even if you had changed several jobs and are not aware about you PF sum.
At Share Samadhan we have a dedicated team of expert professional - Chartered Accounts, Company Secretaries, and Lawyers to assist aggrieved investors to recover the lost / forgotten and scattered investment in any form of financial instrument. Share Samadhan is like 'one window shop' for all the aggrieved and harassed investors searching for a single widow. We are expert in mining the detail information of the investors on the basis of very small information/negligible provided by the investors.
Protect Your Investment: Once should keep a proper record of their investment whether in paper form or in electronic. Someone in the family should be aware about all the investments made by the investor so that in case of exigencies, there is someone who can deal with those papers. It's better to get the 'Will Executed' to avoid any future litigation. Everyone's Family Deserve to preserve their Investments so that the same can be help them to sail through troubled time. Share Samadhan has launched an initiative Wealth Samadhan card where any investor can keep his/her investment details in encrypted form without even giving them any investment document or disclosing the amount of investment. To each client Share Samadhan issues a 'Wealth Samadhan Card' with unique ID to the investor and a 'duplicate' which she/he could provide to any confidential relatives/friend to help the family in case of any fatality/emergency. The investor need not divulge details but can mention his investment in a layman format.
To conclude, our wealth whether earned by us or inherited by us, please do not let those investment just ruined in old papers. Convert it in liquid cash with the help of expert who can help you recovering your old investment.
Vikash Jain is Director with Share Samadhan , India's largest Unclaimed Investment Recovery Advisory entity. (www.sharesamadhan.com)
Terms and Conditions for SHARE SAMADHAN Digi-Info Shared Wallet Facility
1. These terms & conditions shall hereinafter be referred to as “Shared Wallet” or “ Wealth Samadhan Subscription” Terms.
For the purpose of the Shared Wallet Terms the following terms shall have the meaning as assigned to them herein.
SHARE SAMADHAN Private Limited shall be hereinafter referred to as 'SHARE SAMADHAN
"Content" with respect to SHARE SAMADHAN digi-Info shall mean such information / documents in word / PDF and JPG format which have been uploaded by the Subscriber / User and such other formats which may be permitted by SHARE SAMADHAN from time to time, under SHARE SAMADHAN digi-Info services.
"Shared Wallet" or “Wealth Samadhan Subscription” shall mean an online storage and sharing facility available on SHARE SAMADHAN platform and SHARE SAMADHAN website www.sharesamadhan.com / www.sharesamadhan.org / mobile application. Here Customer/s and SHARE SAMADHAN can view, upload, download, and store the Content in such format and in such manner as permitted by SHARE SAMADHAN from time to time.
"Subscriber" with respect to SHARE SAMADHAN digi-Info shall mean such Customer/user who avail SHARE SAMADHAN digi-Info Facility subject to agreeing and abiding to the SHARE SAMADHAN digi-Info T&Cs in the manner specified bySHARE SAMADHAN from time to time.
If you do not accept these terms, do not use this site and do not download any materials from it.
The term Share Samadhan including its logo is protected by Trademark
2. The Customer/s understand and agree that SHARE SAMADHAN may levy a charge for the use of SHARE SAMADHAN digi-Info Shared Wallet Facilityand other allied services including annual subscription fees, if any and the Customer/s agrees to pay such charges without demur when called upon to do so.
3. The Subscriber agrees to be solely responsible for the Content shared / uploaded by him / her. The Subscriber agrees that it shall be responsibility of the Subscriber to ascertain after sharing each information /upload that the Content attempted to be shared / uploaded by him / her has been correctly done and provided so.
4. The Subscriber shall have no right of property in the SHARE SAMADHAN digi-Info Shared Wallet or any other related technology but only an exclusive right to access and use the SHARE SAMADHAN digi-Info Shared Wallet in accordance with applicable terms and conditions. The Subscriber shall not assign or sublet the SHARE SAMADHAN digi-Info Shared Wallet or any part of it, nor permit it to be used for any purpose other than for uploading, downloading, viewing and storing the Content or sharing the Content with SHARE SAMADHAN .
5. The Subscriber shall ensure that the Content is at all times clear and free of virus, worms or any code of destructive nature. The Subscriber shall not upload in the SHARE SAMADHAN digi-Info Shared Wallet any Content that is defamatory, pilfered, illicit, unsafe, offensive in any nature or otherwise objectionable or contrary to public interest, public order or national harmony or law of land in any respect.
6. The Subscriber / User may at any time unsubscribe from the SHARE SAMADHAN digi-Info Shared Wallet Facility by intimating to SHARE SAMADHAN in this regard. Upon a Subscriber / User, who is a Common Customer, unsubscribing from SHARE SAMADHAN digi-Info Shared Wallet facility from either SHARE SAMADHAN website, he shall not be able to access the SHARE SAMADHAN digi-Info Shared Wallet Facility from either SHARE SAMADHAN logged in section any further after unsubscribing It shall be the Subscriber / User's responsibility to download the Contents from the SHARE SAMADHAN digi-Info Shared Wallet Facility before unsubscribing the SHARE SAMADHAN digi-Info facility. In the event the Subscriber / User fails to do so then SHARE SAMADHAN shall not be liable for any loss / damage / harm that may be caused to the Subscriber / User as a result thereof.
7. For reasons of serious or critical necessity SHARE SAMADHAN reserves the right of suspending or terminating the SHARE SAMADHAN digi-Info Shared Wallet Facility for such period as it may deem fit or consider necessary. SHARE SAMADHAN shall not be liable for any damage or loss resulting from or in relation to the Subscriber/s inability to access the SHARE SAMADHAN digi-Info Shared Wallet for any reason whatsoever.
8. The Subscriber appreciates that access to the SHARE SAMADHAN digi-Info Shared Wallet is provided through a combination of computer systems and technologies. Thus there exists a possibility of communication failure or system problems due to which the Subscriber may not be able to temporarily access the SHARE SAMADHAN digi-Info Shared Wallet. The Subscriber agrees not to hold SHARE SAMADHAN liable for any loss / damage / harm resultingdue to the same or any other reason.
9. The subscriber understand that the services relating to investment research including assisting subscriber to arrive at the valuation of various investments done by the subscriber also assisting them searching their investments in various financial instrument and assets etc are subjective and indicative in the nature. SHARE SAMADHAN does not assure about the authenticity and correctness such research and valuation. The subscriber need to apply their own judgement in taking decision for arriving at logical conclusion and deciding the next course of action.
10. The Subscriber agrees that SHARE SAMADHAN may at any time, at its discretion and without assigning any reason call upon him / her to remove the Content from the said SHARE SAMADHAN digi-Info Shared Wallet and the same will not be objected by the Subscriber.
11. The Subscriber agrees that SHARE SAMADHAN may call the subscriber and also contact / communicate them via text, message, email, telephone, mobile, mobile push notification or any alike means of communication which will be available with SHARE SAMADHAN . The subscriber even if who has opted for DND, hereby agrees that SHARE SAMADHAN may contact them anytime. Share Samadhan will try to communicate to subscriber various development relating to investments , regulatory development, news, some tips to secure investment and also communicate / offer any potential benefit arising out of tie-up with any orgainsation.
12. InNo event will SHARE SAMADHAN be liable for any damageswhatsoever (including, without Limitation , damages for lost profits, Loss of revenue, business revenue, business interpretation or Loss or damage to data)arising out of the use of this website or any materials appearing on its pages
13. Upon Subscription, the subscriber will not be eligible for any refund in case of any network problem, breakdown of machinery, unclear network, disruption in the network and/ or payment gateway errors. However, the subscriber should inform the customer service team of SHARE SAMADHAN about the defective content/ technology issue etc. so that the Company takes effective measures to ensure that the defect doesn’t occur.
14. The Subscriber agrees that SHARE SAMADHAN does not verify the authenticity of the information shared by the subscriber.
15. Notwithstanding anything to the contrary in Section 152 of the Indian Contract Act, under no circumstances shall SHARE SAMADHAN be responsible for any loss / deterioration / damage to the Contents caused by any reason whatsoever. The Subscriber understands that he / she shall be responsible for maintaining the necessary alternate backup of the Content. In the event the Subscriber fails to do so then SHARE SAMADHAN shall not be liable for any loss / damage / harm that may be caused to the Subscriber as a result thereof.
16. In case the Subscriber does not pay the fees of SHARE SAMADHAN which may be notified from time to time by SHARE SAMADHAN then the facility of accessing the digi-Info Shared Wallet will be automatically barred.
17. SHARE SAMADHAN reserve the right to expel / restrict the uploading any of its Content that they may decide in their sole and absolute discretion to be in violation of the Shared Wallet Terms. SHARE SAMADHAN , without any notice shall also reserve the right to immediately deactivate the SHARE SAMADHAN digi-Info Shared Wallet Facility being availed by the Subscriber in the event the Subscriber is in violation / breach of any declaration / obligations made / provided herein and / or breach of any / all applicable terms and condition governing his / her relationship with SHARE SAMADHAN .
18. The Subscriber undertakes to keep indemnified SHARE SAMADHAN , its directors, employees, promoters, representatives and assignees against all direct, indirect, consequential loss / damage / harm (including but not limited to liabilities, judgments, damages, losses, claims, costs and expenses, including attorneys fees and expenses) suffered by SHARE SAMADHAN , its directors, employees, promoters, representatives and assignees, arising from any act or omission of the Subscriber or due to any breach of the Shared Wallet Terms or other applicable terms. The provision of indemnity as stated herein shall survive the termination of the SHARE SAMADHAN digi-Info Shared Wallet Facility availed by the Subscriber.
19. The Subscriber hereby agrees to be contacted / informed via phone / mobile / text / email other any other similar mode of communication which will be available with SHARE SAMADHAN .
20. SHARE SAMADHAN reserves the sole and absolute discretion to withdraw, alter, amend or supplement any of the Shared Wallet Terms & condition at any time without any prior information.By using the SHARE SAMADHAN digi-Info Shared Wallet Facility after the modified Shared Wallet Terms have come into effect and the Subscriber shall be deemed to have accepted the modified Shared Wallet Terms.
21. The Subscriber hereby warrants that the Content stored by him in the SHARE SAMADHAN digi-Info Shared Wallet does not infringe any rights (including but not limited to intellectual property rights) of third parties. Without prejudice to the generality of the foregoing the Subscriber agrees not to infringe any patent, copyright, trademark, trade secret, privacy or other intellectual, personal or proprietary rights of third parties, supply, store any libellous, abusive, obscene material or disparage the products or services of any third party including SHARE SAMADHAN .
22. The Subscriber shall be solely responsible for any/all issues/claims/disputes/complaints arising out of or in connection with the Content posted, uploaded or stored in the SHARE SAMADHAN digi-Info by the Subscriber and any/all such issues/claims/disputes/complaints shall not constitute a claim against SHARE SAMADHAN .
23. The Shared Wallet Terms shall be governed by the laws of India and any dispute, legal action or proceedings arising out of the same shall be referred to the courts or tribunals at Delhi in India and the Subscriber irrevocably submits himself to the jurisdiction of such courts and tribunals.
24. The Subscriber undertakes and authorises SHARE SAMADHAN and its Group Companies / associates / entities to exchange, share or part with all the information, data or documents relating to his/her application to other SHARE SAMADHAN Group Companies / banks / Financial Institutions /Broking houses/ Credit Bureaus / Agencies / Statutory Bodies /Tax authorities /Central Information Bureaus/ such other persons as SHARE SAMADHAN / its Group Companies may deem necessary or appropriate as may be required under applicable laws / regulations, for providing any service to the Subscriber, for using or processing of the said information / data by such person/s or furnishing of the processed information / data / products thereofto other Banks / Financial Institutions / credit providers / users registered with such persons and shall not hold SHARE SAMADHAN / its Group Companies liable for use of this information.
25. SHARE SAMADHAN shall be entitled to sell, assign or transfer SHARE SAMADHAN 's rights and obligations under the Shared Wallet Terms to any person / entity of SHARE SAMADHAN 's choice in whole or in part and in such manner and on such terms and conditions as SHARE SAMADHAN may decide or deems fit. Any such sale, assignment or transfer shall conclusively bind the Subscriber and all other persons. The Subscriber, his heirs, legal representatives, executors, administrators and successors are bound by the Shared Wallet Terms. SHARE SAMADHAN may sub-contract and employ agents to carry out any of its obligations under this contract. However, the user shall not be entitled to transfer or assign any of his rights and obligations hereunder.
26. SHARE SAMADHAN shall make reasonable efforts to advise from time to time the Internet software such as browsers, which are required for availing of SHARE SAMADHAN digi-Info Shared Wallet. There will be no obligation on SHARE SAMADHAN to support all or any versions of the internet software as may be required for offering SHARE SAMADHAN digi-Info Shared Wallet. The Subscriber acknowledges that the software underlying the SHARE SAMADHAN digi-Info Shared Wallet as well as other internet related software which are required for accessing SHARE SAMADHAN digi-Info Shared Wallet are the legal property of the respective vendors / SHARE SAMADHAN . The permission given by SHARE SAMADHAN to access SHARE SAMADHAN digi-Info Shared Wallet will not convey any proprietary or ownership rights in such software. The Subscriber shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying SHARE SAMADHAN digi-Info Shared Wallet or create any derivative product based on the software.
27. Any offer by SHARE SAMADHAN relating to Cash back / future adjustment of subscriber registration fees against future services to be availed by the Subscriber is only tenable in case Subscriber avail services of SHARE SAMADHAN at a fees proposed by SHARE SAMADHAN for assisting client or its legal heir / family member to recover the investment . No cash back in the form of money will be paid to the subscriber.
28. The subscriber agrees that in case of any eventualites or death of the subscriber, the information will not be shared with any of the family person or close friend or relative unless Share Samadhan is reasonably sure about the identity of the family or legal heir and Share Samadhan also reserves the right to seek conculsive eveidence of the eventualities or death of the subscriber. Once proper KYC being done then only Share Samadhan may share the information to the family member or close friend or relative of the subscriber.
29. The subscriber agrees that in case his / her mobile number is not reachable or wrongly provided then Share Samadhan will contact their family person at the mobile number given by them and get you coordinates or will speak to the subscriber through the family person. Share Samadhan may also reach out to the subscriber by contacting the person whose details has been provided as emergency contact number.
30. The subscriber agrees that the Initial amount charged is towards Registration fees for giving the facility to store data and other services are free and that can be withdrawn by Share Samadhan. Annual subscription fees will be applicable at a fees decided by Share Samadhan.
31. Wealth Samadhan Card may be issued to the Paid Subscriber who avails the facility of Shared Wallet which will just contain the name of the subscriber along with unique ID. While Share Samadhan will ensure due diligence before sharing any info to the card holder, Share Samadhan will not be responsible for the misuse of Wealth Samdhan Card.
32. Some time the potential subscriber may share the basic information to enable Share Samadhan to create their account for Wealth Samadhan membership. The account information inlcuding user id and password is being mailed to the subscriber in his / her email id. They may wish to revert to Share Samadhan in case they do not want to become member of the Wealth Samadhan subscription.
33. In case the subscriber feels that he / she did not share any information for wealth samadhan subscription and he / she gets any mail of registration then they can respond to Share Samadhan in case they do not wish to contiune the subscription of Wealth samadhan subscription. Non-receipt of any revert from the subscriber will tantamount to their acceptance of the subscription service of Wealth Samadhan card.
34. In case some one share your information with share samadhan without your concurrence and you receive the intimation about the same through email , phone or message then you reserve the right to inform us for deactivation of your subscription else you will continue to be Wealth Samadhan subscriber with us.
35. The subscriber agrees to receive communication from share samadhan and its assoicates from time to time.
36. Share Samadhan may invite person to become wealth samadhan subscriber by sending them USER ID and Password at their email id. In case subscriber wish not to continue with wealth samdhan subscription then it can be communicated to Share Samdhan by email or in through unsubscribe option being available in the email being sent to the subscriber.
37. Share Samadhan may change its Terms & condition which would apply to all the visitors who comes to Share Samadhan website, who uses Share Samadhan mobile application from time to time. The subscriber may visit to our website from time to time to get themselves aware about Terms & condition