Demat accounts of investors who failed to furnish their PAN card details were frozen at midnight on Dec 31. Depositories National Securities Depository Ltd and Central Depository Services Ltd have frozen about 20 lakh DEMAT accounts following the failure of the account holders to submit PAN card details before December 31 deadline.

SEBI had made it mandatory for all investors to provide PAN card details for transactions in the cash market from January 1, 2007. However, the freezing of accounts is not an irredeemable event. The accounts can be re-started once the details are provided and verified.

Since January 1, 2007 , more than seven lakh accounts have been unfrozen because the account holders have provided their PAN CARDS to their DPs ( Depository Participants) ?

STEPS to unfreeze your DEMAT ACCOUNT:

• Check your DEMAT ACCOUNT status with your DP or from your transaction statement.
• If your account status is “Suspended for Debit” due to non – submission of PAN details, provide copy of your PAN CARD to your DP with the original for verification.
• Your DP will verify the same and update the PAN CARD details.
• Your DP will then unfreeze your account, after which your account will become operational.

 

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