The securities were distributed in the form of paper certificates prior to the implementation of dematerialization. The possibility of the certificates being destroyed, lost, or misplaced rose with the issuance of shares in physical form.
source https://www.caclubindia.com/articles/claim-your-unclaimed-shares-dividends-from-iepf-authority-48098.asp
source https://www.caclubindia.com/articles/claim-your-unclaimed-shares-dividends-from-iepf-authority-48098.asp
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