Broker Bankrupt

Others 1028 views 3 replies

Ankit Agarwalla

281 Points Posted on 04 December 2010

In case the broker holding the shares of investor goes bankrupt?

Hi,

I have a trading account with some broker & a saving account (which is linked to the trading account) with bank. Suppose the broker goes bankrupt. But the bank is financially stable. then what happens to the shares I have bought? Would I lose my investment?

Replies (3)

purvi

some

240 Points Posted on 04 December 2010

nothing to worry

your shares are safe in demat.

claim it from ur depository and transfer it to another broker by opening a new account

Bijoy N.Momaya

www.RupeeResearch.com (Eqty Advisory & S

477 Points Posted on 12 December 2010

Hello Ankit,

Just make sure that ur holdings are transfered to ur DP account. DP account holdings will always remain safe no matter if ur broker goes bankrupt. Check your DP holdings with CDSL/NSDL with the help of unique BO ID ( Beneficiery Owner ID).

Also activate sms alerts from NSDL/CDSL so as to remain intimated about ur DP account. Its free of cost & any debit or credit to ur DP will be instantly intimated to you by an SMS.

Thank U

Bijoy

Ramalingam K

Founder & Director - Holistic Investment

21077 Points Posted on 13 May 2014

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Director and Chief Financial Planner,

Holistic Investment Planners

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