Still ignoring calls from CDSC to limit your Demat accounts to maximum 2? Be ready to face punitive actions now!

It has been learned that CDS and Clearing Limited has already started its long-proclaimed plan to terminate the demat accounts of those individuals having more than 2 demat accounts. In fact, the screening process for the people having more than 2 demat accounts has gained some pace in recent days with more than 7500 such cases already unearthed.

As per the sources, CDSC has already caught 7500+ people with more than 2 demat accounts and the investigation is still ongoing thereby opening the possibility for more such cases to come to light in near future.

It’s learnt that few individuals are still continuing their share transactions from more than 2 demat accounts which CDSC has referred as direct disobedience of the established practice. In other cases, CDSC has also found that few demat accounts have been left vacant in some cases where those people have more than 2 demat accounts for which it has already asked the DP institutions to suspend those unused accounts.

Following the instruction from SEBON to scrap all those extra demat accounts on Asad, 2074, CDSC has time and again urged the sharemarket  investors to keep only 2 accounts. Since these investors paid no heath to the repeated information from CDSC and multiple extension of deadlines, the clearance house has decided to come heavily against those investors.

As per the recent available data, more than 12.25 lakh demat accounts have been opened so far from 66 DPs throughout the nation.