Video

Thanks 🙏

Good information which website we can go and clear this issue

ICICI doing the same

The problem is there with brokers also. I stopped trading with one beoker and there are no shares in demat or any balance with broker. I informed their customer support to close the account but i keep getting messages on zero balance in my account

Good morning True Thanks for facts Hope All understand

Very good video sebi has to act . Pl continue yr good effort.tks

@ Sucheta Dalal Madam, on a similar note. PLease raise awareness about mutual fund units trapped in demat accounts. A lot of naive investors have bought them in their demat accounts and now they do not know how to sell these units

Agree with you totally. I too have few dud shares lying in my dmat account & yes no solution as yet 😡

Thanks for addressing this tricky thing. Though I do not want to close my DP, I have 3 such company shares & want to get rid of them.,. Does liquidated shares not get extinguished automatically??

Good topic, zombie shares, many more zombies will crowd demat account of retail investors, what with high priced IPOs, or even shares like RVNL or IREDA or IRCTC may turn up to be zombies.😂

Could not agree more. SEBI sucks

SEBI sucks!

As per my knowledge, RTA does rematerialisation, but we won't find an active RTA for defunct company.

I got a decent solution (not permanent though) from icicidirect for this scenario. I had yes Bank shares along with few more scripts & I wanted to transfer full portfolio from icicidirect to zdha. There was a lockin of around 2 yrs in yes Bank. Due to lockin, neither selling nor tranfer was feasible (as per icicidirect). So they waved off the AMC completely on my demat.

Thanks a lot Sucheta mam.

Easy solution is to look up the procedure followed by developed first world countries and implement it in India .

Rematerilaize and shred could be an Electronic button option with due backend process

The Registrar and their role is also a grey area. ..There are shares like Nayara Energy / Essar which went private.if one holds the shares the existing Demat account should facilitate atleast payment of dividend..

What would have one done with Dud shares in Physical share form. This can be done. Electronic shredding initiated by Demat holder through a Button to be approved from DP / NSDL or CDSL could be an option..it can take care of the right s of Share holder and obligations of regulators .

Very pertinent issue

Thirupati has a demat account we can donate shares to, i transferred my delisted kingfisher shares to them and close my demat

Please improve audio, it’s not loud enough

Mam we should file a PIL for it in Supreme Court.

Madam , Please write to finance minister

Very Valid issue

you have highlight it correctely, problem is sebi is not in problem solving, they are just promoter of share markets, sebi need to work as authority, also sebi needs to open branch office /zonal office in each state like RBI

Yes it for this reason that I couldn't close my Demat account but as you said there is a light at the end of the tunnel, I wish sebi responds to your pursuation positively.

Very nice and informative. Thank you

Please take up this with income tax how we can book loss since now ltcg is being charged from 31 Jan 2018. I hame many shares from 1985 some in physical format and some in Demat. I really appreciate your works for retail investors.

Why can't be the same solution like they transfer active shares to Investor protection fund lying for long in DPs but no transactions.

Major issue - even global banks are struggling with same process

Best option would be to transfer the shares to IEPF. IEPF is sitting on huge pile of Bluechip shares than why not dud shares ???? As such it is meant for investors protection, isnt it ???

Dabba trade is increasing, plz make vedio on this subject.

Great service by you

How this dud shares issue is handled by other countries? Like USA Nasdaq ? Any idea ma'am?

I have an interesting analogy! One could say the minister's wealth follows the principle of political half-life, reducing by 50% every election cycle. Maybe the secret to a politician's prosperity lies in winning consecutive terms to offset this "radioactive decay." Or perhaps they need a special "political reactor" to keep generating more wealth before it all fizzles out!😃

I think basic account is a solution, no annual charges

Many fake companies cheated investors.Why Govt of India Department of Companies Affairs suo moto initiate action against these cheater companies.

Glad that SEBI C. said we will take it up. My view is that it is a loss of investment and therefore one should be allowed to treat it as a long term loss in ITR with an appropriate authorisation by Dept of Company Affairs that this is a dud/ vanished/ unlisted company. Plus deletion of share from demat account. Physical shares can be submitted to GOI who can destroy the same. Problem needs to be addressed by FinMin; who is probably more busy gathering revenue, wherever it can be found or generated. My take

Wow, you presented such excellent matters that enlightened us. Thank You !!

Very good video. Perhaps a solution is list such duds seperately and allow trading with extreme caution

Thanks a Ton madam 🙏🙏

EASY : Many "holy" institutions accept demat donations. Details of those whom I used the services of, to correct the unholy mistake of giving trading control to AngelOne helpdesk to pump and dump Allied Computers Intl Asia are : Tirumala Tirupati Devasthanams : CDSL SHCIL 1601010000384828 Shree Siddhivinayak Ganapati Temple Trust (Prabhadevi) Mumbai : CDSL SBICap Securities 12047200 11413505 The govt should accept these stocks towards income tax and give equivalent rebate in tax (not taxable income). After all it is their fault that such things happen right under their noses as the Stock Exchange will not be liable for financial misconduct which is what is the underlying reason in most such cases. The exchange (particularly BSE) should at least exercise due diligence in verifying the physical locations and true operational capabilities of such fly-by-night operators and their auditors, reporting the same to MCA and ensuring their blacklisting

what if delisted stock may relist in a far future? let it be there ....why so worry...people like you just want to create some chaos one or the other way and be in a limelight to have some monetary benefits....

To get rid of this, to close the account "Account to be close" option is available at Nsdl & Cdsl. I have closed my three of my accounts. No any fess has to be paid for such to be close accounts

You should be nominated in Rajya Sabha , so that millions get voice. But alas, we have very few good people and others bunch of idiots in RS.

Imagine if we do not have channels like these to voiceover, what the outcomes would be! Thank you both Sucheta and Debashish ji for bringing out many issues. If institutes like ICAI take up, much more can be addressed.

i have this issue tooo

SEBI is a dud organisation , if it needs such videos to remind it of its duties to the citixens of india

Thankyou very much for taking the issue with SEBI. Hope we get some solution. This is a very nice video. I have more than 6L worth of dud shares from 8 companies, which were very large cap Nifty 50 shares 2 decades back. Couple of these companies are getting bought and their shares will be relinguished soon. When they get relinguished with zero value, they will be removed from demat account and I can account them under LTCG loss. Still 5L worth of dud will be left out. If i tranfer to friends account that poor guy will hold that dud.I may be able to show loss on transfer and close my demat. But that poor fellow has to start suffer like me. Or atleast SEBI should allow us to transfer them back to the company at 1 paise cost and allow us to show the loss for IT purpose, it will be of great help.