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    <description>Small and retail shareholders cannot dematerialise shares because corporate and securities registries lack a unified searchable name-history, depository rules restrict cross-depository Basic Services Demat Account access and certain securities are dematerialisable only on one depository, and PAN/linkage and unclaimed-transfer processes lead to automatic transfers; the author urges registry transparency, cross-depository BSDA access, harmonised demat eligibility, and a physical-to-holding-receipt procedure to enable later demat and collect PAN data.</description>
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