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Dematerialization is a process where all the beast 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 like creation a Demat account.
You infatuation to occupy a dematerialization demand form that is open in the depository participant.
Once the request is official every the amalgamated mammal documents will be destroyed and the sworn statement of dematerialization will be sent to the depository.
Again a sworn statement is sent urge on from the depository to the depository participant and after that it will be reflected in the account electronically.
The accumulate process will consent 15 to 30 days to perfect from the date of submission of the request form.
In order to carry the comprehensive process one should compulsorily possess a Demat account else this is not realistic at all.
Why was dematerialization needed?
Handling of processing that is united to shares, invoices etc. is getting hard morning by day. bearing in mind they are big in number it is no question difficult to gathering and manage. That is why people started getting every documents in electronic format. Even we can look legal and legal obligations to dematerialize your invoices (obligations légales et juridiques pour dématérialiser vos factures) in many companies.
Tracking of the wedding album is completely hard in the same way as physical documents. Especially if we desire to track archives that are generated several decades assist is in fact a hectic one. as a result keeping later in mind, right now we are focusing more upon dematerialization. This is the craving of the hour and furthermore it is certainly eco-friendly as the paper usage is maximum shortened subsequent to dematerialization. thus we as a liable citizen should preserve dematerialization.