JK Bank Issues Important Notices For Customers
DEMATERIALISATION OF SHARES
In order to facilitate seamless transfer of shares, safety of holding besides convenience, accessibility, cost efficiency, flexibility and most importantly eliminating the chances of shares being lost, forged or misplaced; shareholders of the Bank holding shares in physical form are requested to get their physical shareholding dematerialised.
Depending on whether the shareholder already has a Demat account or desires to open a new one, the steps involved for dematerialisation of shares are as under:-
SHAREHOLDER(S) WHO ARE NOT HAVING DEMAT ACCOUNT
• Shareholder(s) to open a Demat account with a Depository Participant (DP), registered with NSDL and/or with CDSL. (If you wish to open Demat account with Subsidiary of the Bank, please visit any nearest Branch of the Bank or Branch of JKB Financial Services Limited. The address of the Branches can be obtained from the link: – https://www.jkbfsl.com/contact-us . Demat account may also be opened online by visiting the website of JKB Financial Services Limited (www.jkbfsl.com).
Please note that the shareholder(s) are free to open their Demat account with any of the valid Depository Participant (DP) of their choice).
In case the securities are held by shareholder(s) in joint names, they may open a Demat account in the joint names.
• After opening the Demat account, shareholder(s) will be provided a Client Master List showing Demat account number and all other details such as name, address, phone no., email id etc.
• Thereafter, shareholder(s) are to submit physical share certificate(s) along with Dematerialisation Request Form (DRF) to their respective DP.
• The DP will intimate the Registrar & Transfer Agent (RTA) of the Bank of the request submitted by the shareholder(s) through the electronic system of NSDL/CDSL.
• The DP will also submit the share certificate(s) and the DRF, submitted by shareholder(s) to the Registrar & Transfer Agent (RTA) of the Bank.
• The Registrar & Transfer Agent (RTA) of the Bank after validation of the request will update the Register of Members and confirm to the Depository.
• The Depository will credit the DP’s account.
• The DP will credit respective Demat account.
SHAREHOLDER(S) WHO ARE HAVING DEMAT ACCOUNT
• Shareholder(s) have to submit physical share certificate(s) along with Dematerialisation Request Form (DRF) to their respective DP.
• The DP will intimate the Registrar & Transfer Agent (RTA) of the Bank of the request submitted by the shareholder(s) through the electronic system of NSDL/CDSL.
• The DP will also submit the share certificate(s) and the DRF, submitted by shareholder(s) to the Registrar & Transfer Agent (RTA) of the Bank.
• The Registrar & Transfer Agent (RTA) of the Bank after validation of the request will update the Register of Members and confirm to the Depository.
• The Depository will credit the DP’s account.
• The DP will credit respective Demat account.
Please note that in terms of Securities and Exchange Board of India (‘SEBI’) vide notification dated June 8, 2018 had amended Regulation 40 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and prescribed that requests for effecting transfer of securities received after December 5, 2018, shall not be processed by the listed entity unless the securities are held in dematerialized form.
Additionally, as per circular number SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/70 issued by Securities and Exchange Board of India (‘SEBI’) dated May 25, 2022, the following operations shall be carried out only in demat form:
a. Issue of Duplicate Share Certificate
b. Claim from unclaimed Suspense Account
c. Replacement/Renewal/Exchange of securities certificate
d. Endorsement
e. Sub-division/Splitting of securities certificate
f. Consolidation of folios
g. Consolidation of Securities Certificate
h. Transmission
i. Transposition
For any further queries feel free to mail the Share Department of Jammu and Kashmir Bank at the email id sharedeptt_gc@jkbmail.com or get in touch with the Share Department of the Bank on 0194-2483775
