law: Depositories Act, 1996 
  7. Registration of transfer of securities with depository 
  (1) Every depository shall, on receipt of intimation from a
  
  participant, register the transfer of security in the name of the transferee.
  (2) If a beneficial owner or a transferee of any security seeks
  
  to have custody of such security the depository shall inform the issuer
  
  accordingly.