Dematerialization of Shares
Dematerialization of Shares
The Ministry of Corporate Affairs, Government of India has issued notification dated September 10, 2018 and accordingly, with effect from October 02, 2018, as per Rule 9A(1) of the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018 (“the Rules”),
‘every unlisted public company shall -
(a) issue the securities only in dematerialized form; and
(b) facilitate dematerialization of all its existing securities
in accordance with provisions of the Depositories Act, 1996 and regulations made there under.’
Further, as per Rule 9A(3)(a) of the said Rules, ‘Every holder of securities of an unlisted public company, who intends to transfer such securities on or after 2nd October, 2018, shall get such securities dematerialized before the transfer’.
Therefore, MKCL has secured International Security Identification Number (ISIN) from National Securities Depository Limited (NSDL) and it is INE03KR01016. The ISIN has also been activated with Central Depository Services (India) Limited (CDSL).
As per the above Rules, any shareholder who is desirous of transferring shares of an unlisted public company, which are held in physical form, after October 02, 2018 can do so only after the shares are dematerialised. It be noted that the above Rules do not bar investors from holding shares in the physical form even after October 02, 2018. Further, the aforesaid Rules are not applicable for transfer of title of shares by way of inheritance or succession and interchanging of the order of name of shareholders.
Details of Registrar and Transfer Agent for Equity shares of MKCL
|Head Office||Alankit Assignments Limited
RTA & DP Division 4E/7, Jhandewalan Extension, New Delhi 110055.
Tel.: 011-42541234 / 23541234
Fax: 011- 42541201
|Regional Office - Mumbai||Alankit Assignments Limited
R. R. House, Ideal Industrial Estate Opp. New Empire Mills, Senapati Bapat Marg, Lower Parel (West), Mumbai 400 013.
Tel.: 022-43481200 / 300 / 43481268 / 278
Fax: 022-40581266 / 267
|Regional Office - Pune||Alankit Assignments Limited
CTS-1328, 1st Floor, Vardhman Heights, 1st Floor, Near Telephone Exchange Office (above Tata Docomo office) Bajirao Road, Pune 411002.
Tel.: +91-20-6510 5041 - 42
Contact Address of MKCL
The Company Secretary
Maharashtra Knowledge Corporation Limited (MKCL)
ICC Trade Tower, ‘A’ Wing, 5th Floor, Senapati Bapat Road,
Shivajinagar, Pune 411016. Maharashtra. INDIA.
Email: firstname.lastname@example.org; email@example.com
Frequently Asked Questions (FAQs)
- A depository can be compared to a bank. A depository holds securities (like shares, debentures, bonds, Government Securities, units etc.) of investors in electronic form. Besides holding securities, a depository also provides services related to transactions in securities.
- A depository is an organization where the securities of an investor are held in electronic form, at the request of the investor through the medium of a Depository Participant.
- Central Depository Services (India) Limited (CDSL)
- National Securities Depository Limited (NSDL)
- Elimination of risks associated with physical certificates such as loss, theft, mutilation, fraud etc.
- Improving the corporate governance system by increasing transparency and preventing mal-practices such as benami shareholding, back dated issuance of shares, etc.
- Exemption from payment of stamp duty on transfer.
- Ease in transfer, pledge etc. of securities.
- All the corporate benefits such as dividend, bonus shares, rights shares, etc. if and when decided to be offered by the Company will be issued to the actual investors who hold shares in electronic form.
- The dividend amount if and when declared by the Company will be sent to bankers of actual investors directly.
- The entitlements of rights and bonus shares, if and when decided to be issued by the Company, will be credited to the actual investors’ accounts as per Investors’ option and the terms of issue.
- MKCL is an unlisted Public Limited Company. The shares of MKCL are not listed on any stock exchange for trading.
- Presently, the Company does not have any plans of making Public Issue through IPO.