Hello Guys,
I’ve been trying to close my upstox account from last one month since I’ve become an NRI. I am getting replies from upstox saying that one stock is still there in my demat account. Now, That stock is Lakshmivilas bank which got delisted one year before. I hold very little quantity(around 1000rs). I tried creating an easiest account for the demat account so that I can transfer the stock to someone else’s demat. But upstox doesn’t have that provision to do it. Now, I’ll be simply paying upstox with quarterly maintenance charges for the reason that I can’t close my account since I’ve a delisted stock in my demat and can’t move it to any other demat account. Since I’m not in India, offline paperworks are not an option for me, also it doesn’t worth the effort to get the shares transferred. This is my request to the experts here to help me with your valuable thoughts and insights. Thank you in advance.
Hello @vaisakhpc - Were you able to find a solution to your issue and close out your upstox account? I am also having a similar issue, but with the inability to sell off fractional shares prior to closure.
Thanks,
Derrish
Contact Upstox they should have a closure cum transfer procedure thus if you have another brokerage account they should be able to get it done. I recently got it done with another broker the account got closed and the unlisted shares now show up in the Console since I got them transferred to Zerodha not very seamless process but get’s the job done. If the broker denies Help there’s always SCORES
Unfortunately, transfer would not work in my case since the other Zerodha account is an NRI account and they said it couldn’t be done. SCORES is the way forward i guess. Are there any detailed instructions on how to raise a ticket using SCORES
I know about the platform but I’ve never used the platform myself so I’m a little unaware of the detailed procedure here. Maybe someone who has used the platform can help or one of these guys can help you.
@cvs @ShubhS9 @Meher_Smaran