Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities - Clarification

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....elines regarding execution of 'Demat Debit and Pledge Instruction' (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities. 2. In view of the representations by and consultations with Broker Associations and Depositories, it has been decided to widen the scope of DDPI to include: 2.1. Mutual Fund transactions being executed on Stock Exchange order entry platforms; and 2.2. Tendering shares in open offers through Stock Exchange platforms. 3. Accordingly, the following amendments are being made to the said Circular: 3.1. Para 3 shall stand modified as under: "In order to make the process more transparent and simpler, the following conditio....

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....es transferred on the basis of the DDPI provided by the client shall be credited to client's TM pool account / CM pool account / demat account of clearing corporation, as the case may be. The DDPI provided by the client shall be registered in the demat account of the client by TM /CM. Stock Exchanges and Depositories shall ensure that stock broker/stock broker and depository participant providing DDPI facility, has enabled its clients to revoke / cancel the DDPI provided by them." 3.3. Para 9 shall stand modified as under: "For the clients who issue the DDPI to stock broker/stock broker and depository participant, the following provisions of the SEBI circulars issued with respect to PoA shall stand replaced with DDPI: ....