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Samraat Jadhav  |1893 Answers  |Ask -

Stock Market Expert - Answered on Dec 04, 2023

Samraat Jadhav is the founder of Prosperity Wealth Adviser.
He is a SEBI-registered investment and research analyst and has over 18 years of experience in managing high-end portfolios.
A management graduate from XLRI-Jamshedpur, Jadhav specialises in portfolio management, investment banking, financial planning, derivatives, equities and capital markets.... more
Vijayaraghavan Question by Vijayaraghavan on Dec 02, 2023Hindi
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Money

Sir, I sent a query earlier but did not get reply. Anyway, I again seek your advice. I have 50 equity of Nicco Uco alliance Ltd for some time. I am a senior citizen and wish to close my DP a/c. I am given to understand this share is delisted and not traded. I contacted the company, but they didn't respond. Further I don't have any other DP a/c in my family. Due to this I am unable to close my DP a/c. Is there any SEBI authorized institution/ DP a/c to which I can transfer this share for free. If not, what is the way out for people struck in similar situation like me. I shall be thankful if you would guide me on this. Vijayaraghavan M.

Ans: Dear Vijayaraghavan Ji,
If you want to close the DP and have a share which is delisted, then the only solution left is you need to rematerialized the share that means convert it in physical and then close the DP. Your broker will help in converting these shares in physical format.
You also need to remember that you can only sell it in dmat format, so after relisting and if you need to sell, you have to dmat it again and then only sell.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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