Companies given three months to digitise share certificates
CDS and Clearing has asked the listed companies to get their stocks digitalised within the next three months.
The CDS has requested them to dematerialise their share certificates as per its plan to go into electronic clearing of share transactions in the next six months, according to the company that has been struggling to demat the stocks since some time.
The paperless stock transaction is expected to expedite speedy settlement of the share transactions as it will reduce risks of damage, theft and forgery of the stocks, apart from hassles free ownership transfers and easy verification.
Though, the CDS – a subsidiary of Nepse – started its demat transactions from April 15, all the 235 listed companies are yet to demat their shares.