Hello,
I hold multiple demat accounts with multiple DPs (stock brokers). As soon as I open an account, I link all accounts using “Trusted Accounts” facility provided by CDSL Easiest. Most DPs will authorize “trusted accounts” in a couple of working days without even requesting separately.
Recently, I asked one of the DPs to authorize “Trusted Accounts” manually via their support after more than 3 months since CDSL Easiest registration. They refused to authorize and asked me to utilize DIS whenever I need to transfer the holdings.
As an investor, do we have any rights to force the DP to authorize “Trusted Accounts” in CDSL Easiest?
Or does DP have the right to choose whatever method to let their demat accounts holders to transfer holdings?
Any SEBI / CDSL guidelines on the same?
I checked the FAQ on CDSL Easiest at…
I also checked some other FAQs in CDSL at…
It isn’t clear about the investor’s rights. Or I couldn’t understand it correctly.
PS: I no longer hold any scrips with this particular DP. I sold all in open market (resulting in some STCG tax) and will buy via another DP soon. I will post a review of this DP in a separate thread in the future.
Since Jan 1, 2024, CDSL added extra measures to avoid incorrect transfers. I don’t know if we still need to use “Truested Accounts” in addition to the recent changes.