Demat query

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Asst Professor
29 Points Joined May 2012

Hai,

 

Kindly clarrify me regarding the following query: My father is having some shares on a company in physical form at his individual status/capacity. Basically he is a KARTA for HUF.

 

Recently he attempted to demat the above holding (lying at his individual capacity) in a demat account held at HUF capacity. The RTA of that company rejected the request by assigning the reason - the difference in capacitiy.

Kindly sugggest me what he is supposed to do to demat all those shares?

Thanks in advance.

 

Regards,

N. Chidambaram

 

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On 16 May 2012 at 10:51 Report
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CA
222 Points Joined February 2008

As per my view, open demat account in Individual capacity & then demat it

or

transfer share physically to Huf & then demat it..

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On 16 May 2012 at 11:07
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PCS
110 Points Joined February 2012

Dear Chidambaram

Please find below the procedure dematerialisation of shares :

1. Open a demat account with any DP, in the name in which shares have been allotted by the company.

2. Obtain the Account No. from your DP.

3. obtain the Demat Request Form (DRF) FROM YOUR dp.

4. DRF along with share certificate has to be submitted with your DP.

5. DP will allot acknowledgement for that.

6. your share shall be credited in your demat account wihtin one mnth inter alia you may remind you DP for follow up.

 

hope it would work in your case. 

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On 16 May 2012 at 11:49
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Asst Professor
29 Points Joined May 2012

Thanks a lot Mr. Paresh and Aditya Agrawal for your kind response for my query. - N. Chidambaram.

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On 19 May 2012 at 15:49

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