4 Lakh DEMAT accounts blocked for those without PAN cards!
Posted on: 29/Apr/2015 6:33:59 PM
Central government has informed that around 4 lakh DEMAT accounts have been blocked due to non possession of PAN cards & other documents.
Parliament reports inform that there are shares worth Rs. 4755 Crores blocked in the above DEMAT accounts.
With PAN cards made compulsory for share/stock trading from 2006, the accounts which have not met this conduction have all been blocked.
Though reminders were given through sms, e-mail, and advertisements in daily newspapers, since there has been no positive response, these accounts were blocked.
