CDSC sets deadline for 41 more companies; in total 106 companies mandated to transact in DEMAT

ShareSansar August 7:

Central Depository System and Clearing Limited (CDSC) has instructed 41 listed companies to get their shares fully dematerialized by Bhadra 6, 2072.

CDSC had earlier instructed 65 listed companies to get their shares fully dematerialized. Now, there will be a total of 106 companies being traded in DEMAT form by the first week of Bhadra.

Although the shares of these companies may be sold in both materialized and demat form, the buyers will get the ownership only in the demat form from Sharawan 24.

The CDS has also said that shares in Blank Transfer (BT) of all the 41 companies will have to be sold or sent for ownership transfer (OT) at their respective RTS within 15 days beginning Sharawan 24. After Bhadra  6, the press statement says, the transactions in the shares of these companies cannot take place in the BT form as the shares of these companies will have to be traded in the demat form.    

It is believed that electronic trading and settlement, facilitated by CDSC, would free the traders and individual investors from the hassles and risks associated with physical shares.

All 28 Commercial Banks that are being traded at NEPSE has been listed by CDSC to get their shares fully dematerialized.

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Commercial banks shares barred to sell in BT or physical form; CDSC ropes off 31 more companies which makes a total of 65 companies to be compulsorily traded in DEMAT

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