A Depository facilitates holding of securities in the electronic form and enables securities transactions to be processed by book entry. The Depository Participant (DP), who as an agent of the depository, offers depository services to investors. According to SEBI guidelines, financial institutions, banks, custodians, stockbrokers, etc. are eligible to act as DPs. The investor who is known as beneficial owner (BO) has to open a demat account through any DP for dematerialisation of his holdings and transferring securities.
The balances in the investors account recorded and maintained with CDSL can be obtained through the DP. The DP is required to provide the investor, at regular intervals, a statement of account which gives the details of the securities holdings and transactions. The depository system has effectively eliminated paper-based certificates which were prone to be fake, forged, counterfeit resulting in bad deliveries. CDSL offers an efficient and instantaneous transfer of securities.
CDSL was promoted by BSE Ltd. jointly with leading banks such as State Bank of India, Bank of India, Bank of Baroda, HDFC Bank, Standard Chartered Bank and Union Bank of India.
CDSL was set up with the objective of providing convenient, dependable and secure depository services at affordable cost to all market participants. Some of the important milestones of CDSL system are :
Additionally CDSL has venture in to the arena of providing e-Voting services in an effort to reduce the time taken for conducting a postal ballot and also obviate the issues faced by investors in voting for corporate resolutions. The e-Voting System for Corporates is a web based platform which enables companies obtain votes for resolutions proposed by it from its security holders electronically in a quick and cost efficient manner. The e-Voting System for Coporates was launched by Hon. Minister of Coporate Affairs Shri Salman Khurshid on 17th November 2009, and credited the initiative as a step forward in ensuring good corporate governance and investor empowerment.
The e-Voting System has also been approved by the Ministry of Corporate Affairs (MCA) vide its circular no. 21/2011 dated 2nd May, 2011. The Standarization Testing and Quality Certification (STQC) has also been undertaken for the e-Voting website. Additionally the e-Voting system is also ISO 9001:2008 certified.
Shri P. S. Reddy : Managing Director & CEO
Shri Joydeep Dutta : Executive Director & Group CTO
Smt. Nayana Ovalekar : Chief Operating Officer - Operations & Admission Cell
Shri Ramkumar K. : Executive Vice President - On deputation as COO to CIRL & CCRL
Shri Sunil Alvares : Executive Vice President - New Projects & On deputation as COO to CVL
Shri Bharat Sheth : Chief Financial Officer
Shri Yogesh Kundnani : Vice President - Business Development
Shri Vishwas Nagle : Vice President - Information Technology
Shri Suresh Ahirekar : Vice President - Information Technology
Shri Prithwijit Dinda : Vice President - Information Technology
Shri S.V.A.N. Acharyulu : Vice President - Information Technology
Shri Farokh Patel : Vice President - Audit , Inspection & Compliance