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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

CDSL - Closure cum Shifting of Demat Account

04-Jul-2025 | CDSL/IS/DP/POLCY/2025/451

CDSL has issued a circular regarding the Closure cum Shifting of Demat Account effective from 14 July 2025. By virtue of this circular, it has been specified regarding the procedure for processing transfer cum closure of demat accounts: 1. The request for closure of a demat account shall be submitted through a duly completed and signed Form 34. Upon receipt of the request, and if there are no outstanding dues, the Participant shall process the closure or transfer-cum-closure request in the DPM system within two working days. 2. If the client has outstanding dues at the time of submitting the request, a communication shall be sent to the client in the specified format. The client must clear the dues within a maximum of 30 calendar days. 3. The transfer of frozen securities or balance/s for the identical PAN holding pattern in source and target demat accounts within the same depository will be allowed by effecting the same freeze status in the target demat account. (Note - The necessary system changes and effective date of implementation of aforesaid guideline specified in Point Nos. 3 will be communicated separately.) Kindly refer to the attached document for more information.

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