To proceed with closing your existing account and transferring shares to Jainam, please follow the closure-cum-transfer process: - Print, fill,sign and submit the account closure form (PDF) You can refer to the sample copy (PDF) Make sure the signature matches the one given at the time of account opening.
- Also, submit a signed and stamped Client Master Report (CMR) of the demat account where the securities need to be transferred.
RELATED FACTS:
- The closure-cum-transfer process is specifically designed for self-transfers and does not accommodate the transfer of securities to another individual.
- Transfer of shares for :
Lock-in period shares cannot be transferred to any other demat account. Mutual funds can be transferred to any demat account, whether held with CDSL or NSDL. Government securities can only be transferred to another CDSL demat account. Inactive ISINs are not eligible for transfer
- While transferring shares between joint demat accounts, it is crucial to maintain the same order of account holders.
For example, if Mr. X is the primary holder and Mr. Y is the secondary holder in the existing demat account at Jainam, the joint demat account in which shares are transferred must reflect the same sequence—Mr. X as primary and Mr. Y as secondary. Reversing the order (i.e., Mr. Y as primary and Mr. X as secondary) will result in the transfer being rejected.
- Securities can only be transferred between accounts with the same Beneficiary Owner (BO) status. This means they can only be transferred from an individual account to another individual account, not to a joint NRI or HUF account, and vice versa. The BO status is indicated on the CMR copy.
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