Can physical shares held by a single holder be dematerialisation into a joint demat account?

• No, physical shares held by a single holder cannot be dematerialized into a joint demat account.
• The name on the share certificates should match the name on the demat account.
• If an existing joint-holder demat account is held with Jainam, a new individual demat account must be opened for Dematerialisation.
• For Example: Mr. Ashish and Mr. Ashu are joint shareholders of IDFC's physical shares, as reflected on the share certificate, with Mr. Ashish listed as the first holder and Mr. Ashu as the second. However, their joint demat account lists Mr. Ashu as the primary holder and Mr. Ashish as the secondary holder.To facilitate the dematerialization of their IDFC shares, they are required to submit a transposition form. This form must be signed in accordance with the order of names on the demat account, necessitating Mr. Ashu's signature first, followed by Mr. Ashish's.