Hi - I am holding shares of Jaypee Infratech in one of my demat account, I want to close this account but by transferring Jaypee Infratech shares along with other holdings to a new Demat account.
However before opening new Demat account, want to know if transfer of suspended shares is feasible as their ISIN numbers won’t be active anymore.
Please confirm if its feasible, along with process if it is.
Thank you!!
The current ISIN status of Jaypee Infratech is inactive. The only option to transfer this ISIN to another Demat account of yours is through closure-cum-transfer, within the same depository (CDSL to CDSL or NSDL to NSDL).
If you hold this ISIN under CDSL depository, you must open a new Demat account with CDSL to transfer all your ISINs from the old Demat account to the new one. It’s important to note that transferring an inactive/suspended ISIN between depositories(CDSL to NSDL or vice versa) is not possible.
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Can you please guide me on this, I am facing similar issue.
You can reach out to your depository participant (DP) and submit a closure-cum-transfer request. To initiate this, kindly provide the closure form along with a copy of the target account’s CMR/CML. This will enable the transfer of all active and suspended ISINs from one of your demat accounts to another.
Note: ISINs that are lockin, pledged, or inactive cannot be transferred via the closure-cum-transfer request. Additionally, both the source and target demat accounts must be with the same depository (CDSL to CDSL or NSDL to NSDL) for the request to be processed.