In which stock exchange the shares of Gowra Leasing & Finance Ltd., (GLFL/Company) are lisited and what is the code?
GLFL 's equity shares are listed on BSE. The code is as given here under :
Name of the Stock Exchange
:
Bombay Stock Exchange Ltd.,
Scrip Code/ Scrip ID
:
530709 GOWRALE
Demat Shares
What is Dematerialisation and what are the benefits of dematerialisation?
Dematerialisation means the conversion of a physical share certificate to electronic form representing the same number of shares held.
Prior to the dematerialisation era, shares were held in physical form by shareholders. They were sold physically and were sent to the companies for transfer which was then manually done on the reverse of the physical share certificate.
With the evolution of information technology, voluminous and cumbersome paper work involved in the scrip based system has been eliminated through dematerialisation of shares and automation of the process of transactions.
It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transfers are processed electronically without involving any share certificate or transfer deed after the share certificates have been converted from physical to electronic form.
Dematerialisation attempts to avoid the time consuming and complex process of getting shares transferred in the name of buyers and also aims to shirk inherent problems of bad deliveries, duplication frauds, delay in processing/ fraudulent interception in postal transit etc.
Dematerialisation of shares is optional and an investor can still hold shares in the physical form. However, he/ she has to dematerialise the shares if he/ she wishes to sell the same through the Stock Exchanges. Similarly, if an investor purchases shares, he/ she will get delivery of the shares in dematerialised form.
The Depositories Act, 1996 has been enacted to regulate matters related and incidental to the operation of Depositories and dematerialisation operations. In India, there are 2 Depositories in operation :
National Securities Depository Limited (NSDL) and
Central Depository Services (India) Limited (CDSL).
How does the Depository System operate?
The operations in the Depository System involve the participation of a Depository, Depository Participants, Company/Registrars and Investors. The company is also called the Issuer.
The securities of investors are held in electronic form in a Depository (NSDL and CDSL) through Depository participants.
A Depository Participant is the agent of the Depository and is the medium through which shares are held in electronic form. They are also the representatives of the investor, providing the link between the investor and the Company through the Depository.
The transfer of securities occurs without the actual physical handling of securities. The Depository is accountable for the safe keeping of securities. The company signs an Agreement with NSDL/CDSL (the depositories) and installs the necessary hardware / software for operations.
How to dematerialise shares?
The process flow is enumerated below :-
Investor is required to have an account with a Depository Participant (DP) and a Unique Client ID ( provided by the DP on opening an account)
A Dematerialisation Request Form (DRF) is required to be completed and the physical shares intended to be dematerialised have to be surrendered to the DP
On receipt of the shares and the DRF, the DP will send an electronic request through the Depository to the Company for confirmation of dematerialisation. Each request will bear a unique transaction number.
DP will surrender the DRF and the shares to the Company with a covering letter requesting the Company to confirm the dematerialisation. After verifying the documents received from the DP, the Company will confirm the dematerialisation to the Depository.
This confirmation will be passed on from the Depository to the DP. After receiving confirmation from the Depository, the DP will credit the account of the investor with the dematerialised shares.
The DP will then hold the shares in the dematerialised form on behalf of the investor and the investor will become the beneficial owner of these dematerialised shares.
Is dematerialisation compulsory?
Dematerialization is not compulsory.
According to the Depositories Act, 1996, an investor has the option to hold shares either in physical or in dematerialised form.
Can dematerialized shares be converted into physical shares?
If the shares are held in the electronic form, the shares can be converted to physical form by Rematerialisation Request Form (RRF) through your DP. Upon receiving such a request from your DP, the Company will issue share certificates for the rematerialised shares.
What are the charges to be paid to dematerialise physical shares?
The charges for dematerialising have to be borne by the shareholder. The charges differ from one DP to another.
I have purchased shares in physical form. Can I directly give the share certificates to my Depository Participant for dematerialising them in my favour?
Shares should be registered in your favour before they can be dematerialised. For this purpose you need to lodge the share certificates and a duly executed transfer deed with the company. Once the share transfer is processed, we will send an option letter for dematerialising your shares. You can then give us your Dematerialisation Account No. with the Dematerialisation Request form for the dematerialising process through your DP and the shares will be directly credited to your Dematerialised Account.
Dividend Payment
I have not received my dividend. What action am I required to take?
You may write to Company furnishing the details/ particulars of the dividend not received quoting your folio number or DP ID-client ID particulars. We will check our records and issue a duplicate dividend warrant if the dividend remains unpaid as per the records of the Company.
What is the procedure involved in obtaining a duplicate dividend warrant?
During the validity of the original warrant, no original can be issued. Thus, if the validity period of the lost dividend warrant has not yet expired, you will have to wait till the expiry date. However, once the validity period has expired, if the dividend warrant is still shown as unpaid in our Bank Statement, a duplicate warrant shall be issued to you on receipt of application and
Letter of Undertaking from you.
Can old dividends relating to past years that I have not received be claimed?
As per the present law, the Company retains all unpaid/ unclaimed dividends for the past seven years. If you have not received any of the past years dividends, you may write to Company with relevant particulars like folio number, concerned dividend etc. and we shall arrange to pay the dividend if it remains unpaid as per our records.
In order to protect against fraudulent encashment, I want to incorporate the details of my bank account in my dividend warrant. What is the procedure that I should follow?
If you hold shares in the physical form, please submit your folio number, name, details of bank and account number to Company and we shall incorporate the same in all your future dividend warrants. However, if you hold the shares in dematerialised form, these details will have to be provided to the Depository Participant with whom you have a dematerialisation account. Your Depository Participant in turn will pass on this information to the Company. This procedure is in accordance with depository regulations.
in writing with folio number and address proof under intimation to Company.
Transfer of Unclaimed dividend to Investor Education and Protection Fund
Pursuant to Section 205A(5) of the Companies Act, 1956, dividends that are unpaid or unclaimed for a period of seven years get transferred to the Investor Education and Protection Fund administered by the Central Government. The table given below gives the dates of dividend declaration and the corresponding dates when unclaimed dividends are due to be transferred to the Central Government.
The Management
