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.