The entity that serves as an intermediary between the investor and the depository authorized to maintain accounts of dematerialized shares is called a Depository Participant (DP). A Depository Participant acts as a bridge facilitating the interface between investors and the depository (such as NSDL or CDSL in India). Investors open demat accounts with DPs, which hold and manage their dematerialized securities electronically. The DP handles services including dematerialization (converting physical shares to electronic form), rematerialization, corporate actions like dividends and bonus shares, transaction settlements, and account maintenance. This system enables secure, fast, and convenient trading and holding of shares without physical certificates

. In summary, the Depository Participant is the authorized intermediary managing the investor's dematerialized share accounts with the depository.