As per the KYC guidelines at the time of demat account opening the PAN card copy of all the holders is required. This is a mandatory clause. Apart from the PAN card copy, any one of the following address documents have to be attached.
Proof of new address (Any one of the following) of all the holders in the demat account.
No. Names of the accountholders for a depository account cannot be changed. If you want to change name or add / delete an accountholder, you need to open a new account in the desired holding pattern (names) and transfer the securities to the newly opened account. The old account may be closed. However change of name of the accountholder can be done only for the following reasons:
Reason for name change
On account of marriage
1. Marriage Certificate or
2. Copy of Passport showing husband' name or
3. Publication of name change in official gazette.
On account of reasons other than marriage
Publication of name change in official gazette.
Change in father's name
Company's Common Seal required on the Resolution copy. The Common Seal of the company is also required on the DP-Client Agreement .and also on the Account Opening form Introduction by existing account holder or by applicant's bank.
The requirements are the same as that of opening an individual demat account except that the account will be opened in the name of the KARTA. No joint holding and nomination is permitted in this account. In addition the stamp of the KARTA should be affixed at all places signed by the KARTA. For an HUF – Annexure K for KYC details are required.
PAN copy of both the HUF and Karta is required to be submitted. Also Coparcener's declaration stating the name of the Karta and their relationship to the Karta is to be mentioned.
The client who wishes to get his demat shares converted from physical to electronic form has to submit a duly filled and signed Demat Request Form(DRF) along with physical certificate to his/her Depository Participant(DP).
Ensure that the security mentioned on the certificate is eliglible for Demat and is listed with NSDL / CDSL .You can check the eligibility at any of our nearest Saraswat Bank branch.
The client should deface the certificates by affixing the stamp of Surrendered for demat on the shares . This stamp is available at any of the Saraswat Bank Branches However it is advisable to deface the certificates only after confirming the eligibility of the shares. The list of shares available for demat is available at any of our branches.
Separate DRFs (Demat Request Forms)are to be filled for each company having a unique International Security Identification Number(ISIN). All the holders should sign on the DRF. The client should sign on the DRF exactly in the same manner as the sign registered with the Issuer or Registrar.
The procedure is as follows:
The process of creation and closure of pledge is simplified and expeditiously done as the client maintains a Depository account.
The change of address can be effected in an individual/HUF demat account on submission of the following:
The change of address can be effected in a corporate demat account on submission of the following:
Yes. The depository system provides the facility to freeze the depository accounts for debits or for both debits and credits. The account can be freezed for the following activities:
In order to freeze the account , the client has to fill the form for Freezing / Defreezing the account. The duly signed demat form has to be submitted at the branch. The status of the account changes from Active to, as per the choice indicated by the client
In the event of death of the sole holder, if valid nomination has not been made, then the claimants /successors/legal heirs of the deceased can get the securities transmitted in their favour ,by submitting the following documents to Saraswat Bank along with the transmission form.
Transmission of securities held in a single name without nomination and valuation of securities exceeds Rs.1 Lakh.
Transmission of securities held in a single name without nomination and valuation of securities is below Rs.1 Lakh.
Yes, the account holder can change the nomination anytime by simply filling up the nomination form once again and submitting it to the Depository Participant. The account holder, nominee and two witnesses must sign this form and the name, address and photograph of the nominee must be submitted. In case of joint holders, all joint holders must sign.
Statement of Account which includes Holdings, Transactions and Pending Demat status is send to the account holders every month ( if there are transactions in the account.) If there are no transactions, statement of Holdings is sent quarterly.
Statement of Account is sent to the clients also through Email where the client has registered for the same.
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