NSDL freezes 20 lakh demat accounts without PAN details
03 Jan 2007
Mumbai: Depositories National Securities Depository Ltd and Central Depository Services Ltd have frozen about 20 lakh demat accounts after account holders failed to submit PAN card details before the December 31 deadline.
The Securities and Exchange Board of India had made it mandatory for all investors to provide PAN card details for transactions in the cash market from January 1, 2007.
"Out of the 21.6 lakh demat accounts, we have frozen approximately 6.1 lakh accounts," said a senior official at CDSL.
NSDL
has frozen 18 lakh accounts, which had some balance or
holding,
said an official with NSDL. He added that this number
did not consist of accounts, which had zero holding and
the number will be provided shortly.
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