Reforming stock markets
DMAT accounts can be opened in individual or in joint names,like bank accounts.
But for bank accounts, another name can be added or deleted.
In Dmat account this is not allowed as of now I know.
We are advised by DP's to open another account and transfer the holding.This procedure is not really required.
Every DP is pointing the fingers to SEBI
It is high time to amend the rule to introduce / add or delete another name in the existing Dmat account.
This will be most useful in the event of demise of the account holder. Nomination will not be equivalent to the above suggestion.
Fiance Minister may intervene more
But for bank accounts, another name can be added or deleted.
In Dmat account this is not allowed as of now I know.
We are advised by DP's to open another account and transfer the holding.This procedure is not really required.
Every DP is pointing the fingers to SEBI
It is high time to amend the rule to introduce / add or delete another name in the existing Dmat account.
This will be most useful in the event of demise of the account holder. Nomination will not be equivalent to the above suggestion.
Fiance Minister may intervene more
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In the case of shares / demat- adding another name - may amount to transfer of shares off market- quietly- this is how it may be viewed by SEBI or DP. Legal complications may arise. You are fully aware of Birla property case issue. Very unlikely SEBI will permit this. more
Mar 05
Yes. Bank deposit is held in joint names where the first party is liable for tax on interest and the joint holding facilitates smooth transfer in the case of death of any of the parties, a big relief to the customers and the Bank as well more
Mar 05
i also agree that the provision to add , delete or modify joint holders names should be given in dmat accounts with necessary supporting documents more
Feb 29
Mr Subhash Sharma: It is equally good as bank a/c. Any malpractice can be done in either case or any financial instruments. No one is going to have partners, who is not dependable. Anything is with belief and faith. It is only a provision to be made. It is the prerogative of the individual to decide more
Feb 19
