Depository System In India
A depository is a centralized warehouse of securities in dematerialized form. The eligible securities are dematerialized in the depository in computerized form to enable securities trading and other transaction in the form of book entry and securities are not issued or exchanged in physical form.
Depository Act, 1996 defines it as a company formed under Companies Act, 1956 and which has been granted a certificate of registration by SEBI Act, 1992.
- Elimination of all risks associated with physical certificates
- Elimination of bad deliveries
- No stamp duty
- Immediate transfer and registration of securities
- Faster settlement cycle
- Faster disbursement of non-cash corporate benefits like rights, bonus etc.
- Reduction in handling of huge volume of paper
A DP is the agent of the depository and is the interface between the depository and the investors. SEBI regulations provide various categories of market participants who are eligible to become DPs.
A qualified DP is a DP who has taken approval from SEBI or who is registered with SEBI to offer services to Qualified Foreign Investors (QFI).
The depository system works very much like the banking system. A bank holds funds in the accounts whereas a depository holds securities in accounts for the clients. A bank transfers funds between accounts whereas other transfers securities between actual handling of funds or securities. Both the banks and depository are accountable for the safe keeping of funds and securities respectively.
Any losses caused to the beneficial owner caused due to the negligence of the depository or DP, would be indemnified by the Depository to the beneficial owner. Where the loss due to negligence of the DP is indemnified by the depository, then the depository has the right to recover the same from such DP.
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The Office of the Controller General of Patents, DesignsCorrect
The Office of the Controller General of Patents, DesignsIncorrect
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Office of the Controller General of Patents, DesignsCorrect
Office of the Controller General of Patents, DesignsIncorrect
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Head Office of the Patent office is atCorrect
Head Office of the Patent office is at Kolkata.Incorrect
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The Patent information System (PIS) and National Institute of Intellectual Property Management (NIIPM)
The Patent information System (PIS) and National Institute of Intellectual Property Management (NIIPM) located at Nagpur.Incorrect
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TRIZ stands for Theory of the Solution of Inventive Problems.Correct
TRIZ is a Russian acronym for Theory of the Solution of Inventive Problems).Incorrect
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Patent information includesCorrect
Patent information contains all information regarding patent.Incorrect
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WIPO offers â€¦â€¦â€¦â€¦â€¦.. online access to all international patent applications within the framework of the PCT.Correct
WIPO offers free online access to all international patent applications within the framework of the PCT.Incorrect
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IBM Intellectual Property Network database containsCorrect
These are databases included on IBM Intellectual Property Network database.Incorrect
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Current Controller General of Patents, DesignsCorrect
Mr. Rajiv aggarwal is the current Controller General of Patents, DesignsIncorrect
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Cross-licensing is an exchange between two companies to license one or more patents to each other.Correct
Cross-licensing is an exchange between two companies to license one or more patents to each other.Incorrect