Annual physical statement dispatch for zero balance demat accounts may be discontinued if no maintenance charge is received. DPs must send at least one annual physical statement of holdings to BOs whose demat accounts have zero balance and nil transactions after one year and inform BOs that dispatch may be discontinued if the account continues to remain zero balance; non-receipt of Annual Maintenance Charge may also justify discontinuance. Electronic statements must be sent to BOs with registered email ids, and DPs must provide physical statements on request. Suspended securities are excluded when valuing holdings for BSDA eligibility. Depositories must amend bye-laws, notify DPs, disseminate the circular, and report implementation to SEBI.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Annual physical statement dispatch for zero balance demat accounts may be discontinued if no maintenance charge is received.
DPs must send at least one annual physical statement of holdings to BOs whose demat accounts have zero balance and nil transactions after one year and inform BOs that dispatch may be discontinued if the account continues to remain zero balance; non-receipt of Annual Maintenance Charge may also justify discontinuance. Electronic statements must be sent to BOs with registered email ids, and DPs must provide physical statements on request. Suspended securities are excluded when valuing holdings for BSDA eligibility. Depositories must amend bye-laws, notify DPs, disseminate the circular, and report implementation to SEBI.
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