What is the Process to be followed for Deactivation of an account?

For deactivation or closure there are certain checkpoints to be followed which are as given below:

For deactivation of Trading A/c with Outside DP: The trading deactivation is needed to be punched in WIRE application under WIRE-->Operations-->Account deactivation. After entering the details original deactivation form needs to be sent to HO for further Processing.

For clients having Trading and DP with MOSL please note that both the trading as well as DP needs to be closed if other DP is not mapped in BO OR only demat cannot keep active without proper Trading code. No partial deactivation of accounts will be entertained.

The checkpoints:

1 .The DP account should not have any holding.

2. The back office ledger as well as DP ledger should be NIL.

3. No stocks should be lying in debit stock account or collateral account

4. The closure request should be completely filled in with reason.

5. All corrections should be counter signed by all the holders.

6. Signatures should be properly checked in the system. Once the entire checking is done the request for deactivation needs to be punched in WIRE>>Operations>>Account deactivation.

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