law: Depositories Act, 1996 
  6. Surrender of certificate of security 
  (1) Any person who has entered into an agreement under section 5
  
  shall surrender the certificate of security, for which he seeks to avail the
  
  services of a depository, to the issuer in such manner as may be specified by
  
  the regulations.
  (2) The issuer, on receipt of certificate of security under
  
  sub-section (1), shall cancel the certificate of security and substitute in its
  
  records the name of the depository as a registered owner in respect of that
  
  security and inform the depository accordingly.
  (3) A depository shall, on receipt of information under
  
  sub-section (2), enter the name of the person referred to in sub-section (1) in
  
  its records, as the beneficial owner.