How to close a demat account with delisted shares

- Advertisement -

I want to close my demat account but 20 shares of Kingfisher Airlines are not selling. Please guide me.

Dilip Saksena

Answer by Harshad Chetanwala, co founder,

The balance of your demat account should be ‘nil’ if you want to close it. Kingfisher Airlines was delisted by NSE in 2018 and you will not be able to sell these shares at present and in future. The easiest way to take care of this issue is to transfer these shares in the demat account of your family member or relative or friend who plan to use demat account for their regular investments. Practically, these shares have become worthless for you, hence transferring it to their demat account should not be a problem. If you do not have any other holdings in your demat account except these shares then your demat account is a basic services demat account (BSDA) and no annual maintenance charges should be levied for your demat account till the time you close it.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!


Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link


25 dead in floods, landslides across Assam, Arunachal Pradesh and Meghalaya

Floods and landslides have claimed 25 lives across three north-eastern States so far, with Assam being the worst hit.According...

Netflix to Settle Tax Dispute With Italy for $59.1 Million

US streaming service Netflix has agreed to settle a tax dispute with Italy, the company and legal sources said on Friday.Milan prosecutors issued a...

Sri Lankan Tamils take risky boat rides to Tamil Nadu to...

For over 80 Sri Lankan Tamils, including children and infants, who took boats and landed in Tamil Nadu in recent months, the risky journey...

3 children among 7 killed in accident near Dharwad

Seven persons, including three children, were killed and six persons were injured in an accident near Dharwad Seven persons, including three children, were killed and six persons...
- Advertisement -

More Articles

- Advertisement -