DEPOSITORY PARTICIPANT. This is only a question. Nothing negative or malicious must be attributed to this.
What happens if all share certificates of all the shareholders of all the companies stored with the Depository Participants get stolen?
Look what happend in the commodities Jignesh Shah Financial Technologies case. Just like there were no commodities in the godowns and yet trading was being done, what if all the share certificates in depositories get stolen?
Where does that leave the investors with demat a/c statements? Their statements are only mere paper with no actual share certificates in the depository. Do the depositories keep scanned computerised copies of all the shares of all the companies? Are regular audits being done at depositories that all share certificates are in order?
Or should we say that no matter what happens as long as we have our demat a/c statement we are safe?
I would like people to add their views on this topic without any malicious intent in free and impartial manner.
What happens if all share certificates of all the shareholders of all the companies stored with the Depository Participants get stolen?
Look what happend in the commodities Jignesh Shah Financial Technologies case. Just like there were no commodities in the godowns and yet trading was being done, what if all the share certificates in depositories get stolen?
Where does that leave the investors with demat a/c statements? Their statements are only mere paper with no actual share certificates in the depository. Do the depositories keep scanned computerised copies of all the shares of all the companies? Are regular audits being done at depositories that all share certificates are in order?
Or should we say that no matter what happens as long as we have our demat a/c statement we are safe?
I would like people to add their views on this topic without any malicious intent in free and impartial manner.