Banking Service Banking Service

Corporate Account Facility

Corporate Account

The following are the requirements for opening the corporate account. CDSL does not permit the demat accounts in the name of partnership firm or proprietorship firm. Hence for partnership/proprietorship accounts, the demat account can be in the name of the partners/proprietors and not in the name of the firm. The following documents are required to be submitted along with the demat corporate account opening form :

Nomination

A client can avail of the nomination facility for his /her demat account. You can nominate at the time of account opening itself or any time in the future by filling the nomination form. A nomination can be changed at any time by filling the same form. By availing of the nomination facility, the nominee is entitled to receive shares outstanding in the name of the deceased client. However the following categories of investors cannot nominate:

  1.   Minor accounts.
  2.   HUF accounts.
  3.   Power of attorney holders.
  4.   Accounts in the name of society, trust body corporate

However in CDSL, in case of minor account, the guardian can make a nomination on behalf of the minor. Please contact us at user dmat_akolaurban@rediffmail.com or call -0724-2422077 Fax: 0724-2422296

Minimum Charges is Required

Sr.

Amount

Charges

1

Account opening charges

Nil

2

Custody Charges

Nil

3

Annual Maintenance Charges

Rs.150/- p.a.

4

Buying Charges

Free

5

Selling Charges

Min Rs. 15/- or 0.02% of M.V.

6

Demat Charges

Rs.5/- / Rs.10/- per certi + postage

7

Remat (Quantity 100 shares)

Rs.20/- per 100 qty + postage

8

Pledge Charges

Rs.25/- per Script

9

Net Access Charges (Easi)

Free

10

Additional statement charges

Rs. 5/- per page

Service Tax on & above the charges will be applicable as per Statutory requirement (PAN compulsory for all demat accounts)

Dematerialization / Rematerialization

Dematerialization is the process of converting the securities held in physical form (certificates) to an equivalent number in electronic form and crediting the same to the beneficiary account of the client

Procedure of Dematerialization

Rejection of Demat Requests

Your demat request may get rejected for various reasons either at the Demat Head Office or by the Registrar. The shares rejected by the Registrar are dispatched by them to the DP head Office. The rejected shares are then couriered by Akola Urban Bank directly to the residence of the client for necessary rectification, stating the reason for rejection. The client may rectify the error and resubmit the shares with a fresh DRF.

Transposition cum Demat

In case of transposition – cum - dematerialization, the client can get securities dematerialized in the same account if the names appearing on the certificates match with the names, in which the account has been opened, but are in a reverse order. The client can submit the security certificates along with the Transposition Form (Annexure OA) and DRF.

Transmission and dematerialisation of securities.

In case of death of one or more of the joint holders, the surviving joint holder(s) can get the name of the deceased removed from the security certificate(s) and get them dematerialized by submitting the security certificates along with the Transmission Form (Annexure OB) and the DRF.

Rematerialisation

Rematerialisation is a process by which a beneficiary can convert the electronic balances in his account into physical share certificates. On Remat the Investor will get new certificates with new folio and certificate number. This entire Remat procedure normally takes 30 days. No trading is possible on the securities sent for remat.

Facility for holding mutual fund units in dematerialized form

The Procedure for conversion of Mutual Fund units into dematerialized form through the Bank DP for CDSL is given below:

Recent Update

Caution  :  Never ever share your Card number, Expiry date, CVV, PIN, OTP, Password with anyone. Bank never asks for such details.

Caution  :  Never ever share your Card number, Expiry date, CVV, PIN, OTP, Password with anyone. Bank never asks for such details.

Banking Facility