What is Process to be followed for closing of Dormant account?
For such accounts CDSL has a prescribed procedure wherein the
- DP can initiate closure of such accounts by giving a notice of 30 days to the clients.
- Send prescribed format letter to client. The copy of the letter which is dispatched to client has to be retained. If the client does not revert within the stipulated time frame, then the account can be initiated for closure.
- The retained copy of letter, Proof of Delivery (Original POD) and the unsigned account closure letter need to be sent to HO for further processing.
- The DP as well as trading account needs to be closed here. Enter the request in WIRE application under WIRE>>Operations>>Account deactivation.
- Date of letter and POD should be same OR POD should be of post date of letter date.
Top
Happy with the solution or Did not find what you were looking for?
Write to us faqfeedback@motilaloswal.com
Motilal Oswal Securities Limited © 2014