URgent- My family has some shares in paper form which we plan to sellfor which I understand they have to be dematerialised.
I have trading account with a DP.Now these shares are in family members' names in AB, BA, CA etc combination of applicants. My question is that if i open only DMAT accounts for each combination that should be sufficient for dematerialising them but after that can i transfer them to my trading account and sell? I am not a shareholder in any of them.
Also Indiabulls requires Dmat accounts to be linked to a trading account. so is it possible for me to open dmat elsewhere (if yes them where?) and then transfer the shares to my account in indiabulls. There are no charges for opening dmat in indiabulls however tading account is chargable.
2007-01-10 23:46:04 · 6 answers · asked by ishviv 1 in Business & Finance ➔ Investing
i already have a trading acc with them but they as a policy wont open dmat acc unless it is linked to a trading acc in which the first holders are the same. so basically going by them I'd have to open somewhere around 4-5 trading accounts and pay the charges etc which is something i dont get.
2007-01-11 01:34:08 · update #1
GO TO SITES LIKE ICICIDIRECT.COM AND MONEYCONTROL.COM
2007-01-11 22:36:18 · answer #1 · answered by Anonymous · 3⤊ 0⤋
First.......you do not have to open a/c for each combination.you open an a/c for AB and then you can also get the shares of BA dematerialised in the same a/c by filling a form.This please check as the rules change every day.
Second....shares from any a/c can be transferred to your dmat a/c in off market deals.
Why the relationship manager of your indiabulls office has not told you this.?
He is suppose to know all this and help you in this matter.
2007-01-14 06:56:04 · answer #2 · answered by pathik 3 · 0⤊ 0⤋
Go for the easy process:
Just apply for transfer of shares in the names of A/c in which u have a Dmat account.
The Physical shares will well be transferred in your name and the company will send u a option letter to transfer it in electronic form. If u give them ur dmat account details u will get the shares well transferred in Ur name and credited to Ur dmat account.
Now Sell as and when u wish.
No need to open multiple Dmat accounts.
Only pay the small amount of share transfer stamps.
and save the de-materialisation charges too.
2007-01-12 08:47:46 · answer #3 · answered by AVANISH JI 5 · 0⤊ 0⤋
yes u can transfer the shares in ur account , but it will be executed as sales from ur family members account to ur account.Off Market transcations as it is known.
U can open the DP accunt with any Depository Participants like ICICI Bank, HDFC Bank,Any nationalised bank dealing with Demat Account, or any other private players.
Here Indiabulls itself is offering u free sevice then why don't u opt for it. As the trading and Demat account will be at the same place.
2007-01-11 08:12:52 · answer #4 · answered by vidhya R 1 · 0⤊ 0⤋
u also need a Dmat a/c by holders signature u can transfer in to your a/c
2007-01-11 08:15:11 · answer #5 · answered by ushapoochhwale 1 · 0⤊ 0⤋
Get the shares transferred in your name and then sell the shares in your trading acoount.
2007-01-14 08:23:38 · answer #6 · answered by chhaya 1 · 0⤊ 0⤋