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Friday April 18th 2014

How to Close Demat Account

I know lot of people would have opened Demat Account during the bull period to make some money and i have sevral request asking how to close the Demat account ,If you have no stock in it then its easy we can just call them or submit a form to close it , but if you have a scrip in it which is like non trading stock then you will end up in a difficult situation.
Steps to close account with Dead scrip
>If we have a Dead scrip only option you have is to may be send that scrip to your parents or friends account which has other scrip so they will not close the account soon (or)
>They can Rematerialize tyhe Stock and convert to certificate in which case , it will be chucked out of the demat account .(see link here for more details)