Towards making Indian Securities Market - Transparent, Efficient, & Investor friendly by providing safe, reliable, transparent and trusted record keeping platform for investors to hold and transfer securities in dematerialized form.
To hold securities of investors in dematerialized form and facilitate its transfer, while ensuring
safekeeping of securities and protecting interest of investors.
To provide timely and accurate information to investors with regard to their holding and transfer of
securities held by them.
To provide the highest standards of investor education, investor awareness and timely services so as to
enhance Investor Protection and create awareness about Investor Rights.
A Depository is an organization which holds securities of investors in electronic form.
Depositories
provide services to various market participants - Exchanges, Clearing Corporations, Depository
Participants (DPs), Issuers and Investors in both primary as well as secondary markets. The
depository
carries out its activities through its agents which are known as Depository Participants (DP).
Details
available on the link https://www.cdslindia.com/DP/dplist.aspx
(1) Basic Services
| Sl.No | Brief about the Activity/Service | Expected Timelines for processing by the DP after receipt of proper documents |
|---|---|---|
| 1. | Dematerialization of securities | 7 days |
| 2. | Rematerialization of securities | 7 days |
| 3. | Mutual Fund Conversion/Destatementization | 5 days |
| 4. | Re-conversion/Restatementisation of Mutual fund units | 7 days |
| 5. | Transmission of securities | 7 days |
| 6. | Registering pledge request | 15 days |
| 7. | Closure of demat account | 30 days |
| 8. | Settlement Instruction | Depositories to accept physical DIS for pay-in of securities up to 4 p.m. and DIS in electronic form up to 6 p.m. on T+1 day |
(2) Depositories provide special services like pledge, hypothecation, internet-based services etc. in addition to their core services and these include
| Sl.No | Type of Activity/Service | Brief about the Activity/Service |
|---|---|---|
| 1. | Value Added Services | Depositories also provide value added services such as
a. Basic Services Demat Account (BSDA) https://support.fyers.in/portal/en/kb/articles/can-i- open-a-basic-services-demat-account-bsda- with-fyers/ b. Transposition cum dematerialization https://support.fyers.in/portal/en/kb/articles/how-to- sell-my-holdings-using-e-dis-17-1-2022 https://support.fyers.in/portal/en/kb/articles/how-do- i-dematerialize-the-equity-share-certificates-in-fyers c. Distribution of cash and non-cash corporate benefits (Bonus, Rights, IPOs etc.) etc. |
| 2. | Consolidated Account statement (CAS) | CAS is issued 10 days from the end of the month (if there were transactions in the previous month) or half yearly (if no transactions). |
| 3. | Digitalization of services provided by the depositories | Depositories offer below technology solutions and e-facilities to their demat
account holders through DPs:
a. E-account opening: https://fyers.in/signup b. Online instructions for execution: https://support.fyers.in/portal/en/kb/articles/how-to-transfer-shares-from-my-existing-demat-account-to-fyers c. e-DIS/Demat Gateway: https://support.fyers.in/portal/en/kb/articles/how-to-sell-my-holdings-using-e-dis-17-1-2022 d.e-CAS facility: https://www.cdslindia.com/cas/logincas.aspx e. Miscellaneous services: https://support.fyers.in/portal/en/kb/articles/how-to-close-my-account-with-fyers |
| Sl.No | Type of Activity/Service | Brief about the Activity/Service |
|---|---|---|
| 1. | Investor Complaint/Grievances | Investor can lodge complaint/grievance against the Depository/DP in the following
ways:
a. Electronic mode - (i) SCORES (a web based centralized grievance redressal system of SEBI) https://www.scores.gov.in/scores/Welcome.html (ii) Respective Depository’s web portal dedicated for the filing of compliant. https://www.cdslindia.com/Footer/grievances.aspx (iii) Emails to designated email IDs of Depository [email protected] b. Offline mode The complaints/ grievances lodged directly with the Depository shall be resolved within 30 days. |
| 2. | Investor Grievance Redressal Committee of Depository | If no amicable resolution is arrived, then the Investor has the option to refer the complaint/grievance to the Grievance Redressal Committee (GRC) of the Depository. Upon receipt of reference, the GRC will endeavor to resolve the complaint/grievance by hearing the parties and examining the necessary information and documents. |
| 3. | Arbitration Proceedings | The Investor may also avail the arbitration mechanism set out in the Byelaws and Business Rules/Operating Instructions of the Depository in relation to any grievance, or dispute relating to depository services. The arbitration reference shall be concluded by way of issue of an arbitral award within 4 months from the date of appointment of arbitrator(s). |
Complaint lodged with FYERS through electronic mode or physical mode
Place before Grievance Redressal Committee (GRC)
Refer to arbitration
Arbitration in clients favour
Refer to Appellate arbitration
Award in client favour
U/s 34 before Court
| Sl.No | Type of special circumstances | Timelines for the Activity/Service |
|---|---|---|
| 1. |
|
Client will have a right to transfer all its securities to any other Participant of its choice without any charges for the transfer within 30 days from the date of intimation by way of letter/email. |
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