Why do I have to transfer my Demat account from IL&FS Securites Services Limited to Zerodha?


Zeordha will eventually get it done, I guess. I had significant holdings in my demat account and the delay was making me nervous and anxious. So I decided to be more proactive and deal directly with IL&FS.



Your inputs were highly useful.
So, I will wait for a week more. If things don’t get done by then, I will follow up with ILFS.
Thanks a ton.
Have a great day.


Just wanted to share my positive experience here with timelines; hoping it is of help.

Warning: Long post follows

  1. 14 Sep 2018 - Sent documents to Zerodha via courier (ILFS closure, Zerodha demat opening form, Nominee ID proof)
  2. 17 Sep 2018 - Documents delivered to Zerodha (as per the courier; no acknowledgement from Zerodha)
  3. 24 Sep 2018 9AM - Raised ticket on Zerodha support, enquiring about status of the documents.
  4. 24 Sep 2018 1PM - No response on support ticket but received a separate acknowledgement email(s) from Zerodha about the receipt of documents. (Not sure if this happened due to 3)
  5. 25 Sep 2018 1PM - Email from zerodha with CMR copy (New DP details).
  6. 26 Sep 2018 - Having received no emails or notification from CDSL, signed up on CDSL MyEasi and they had the zerodha account details with correct nominee details
  7. 04 Oct 2018 - Email from zerodha on scanned application forms (DP account opening form with franking done on 1st Oct 2018)
  8. 05 Oct 2018 - Got a bunch of SMSes from NSDL that said all my shares have been debited. (No SMS from CDSL; so tried logging into CDSL myeasi and all the shares were credited pronto)
  9. 07 Oct 2018 - Tried logging into ILFSDP and got error that my account has been closed
  10. 08 Oct 2018 - Received remaining amount of Demat AMC from ILFS to my bank account.

I may just be lucky that I didn’t have to push anyone much to get things done. Please make sure to have all the documents properly filled up & ILFS dues cleared. I guess the application processing takes a backseat on the first hurdle it faces in the process.


Having our team check this.


Lucky you still waiting for refund. My AMC was paid thrice.


Oh. sorry to hear that.

I think it helps to have proper documents with no mistakes + no dues with ILFS for a smooth transition. or I may just be lucky :neutral_face:

Just tried a couple of delivery trades today to see if the shares are getting credited properly. :crossed_fingers:


I am here, waiting for 2 months long. Forget the shares transfer, I am not able to get any proper update where it is stuck. Following up almost everyday. They initially had no idea why it is taking time. One day they said I need to send my written consent to deduct the AMC pending. I did that weeks ago. Nothing has changed since then. Neither AMC is deducted, nor any update has come on my open ticket. No progress :fearful: My Z-ID 6963.


Thanks Sandeep for the long, detailed reply.

I sent the filled up documents, duly signed, to Zerodha on 11th September 2018.

I received the EMail from Zerodha with the attachment of Scanned application forms, on 4/10/18, same like you. But I received the EMail with CMR Copy today only.

Today, I called up chennai office of IL&FS. Staff of IL&FS asked me to provide the following details

  1. IL&FS account closure papers forwarded by Zerodha to IL&FS Mumbai office or IL&FS Chennai office?
  2. Date on which the papers were forwarded to IL&FS office.

If I don’t see the IL&FS account getting closed within the next few days, I have to continue the follow up with Zerodha.

Thanks friend for you time and efforts towards writing the long detailed reply.


My transfer was done. Just that no refund. Just getting canned responses.


Strange they are asking for consent. My AMC was deducted without consent not once but twice that after I have already paid directly to ILFS. I wonder if there is any process or they just act randomly.


Thanks for sharing your experience.