How to shut a demat account with delisted shares

I wish to shut my demat account however 20 shares of Kingfisher Airlines usually are not promoting. Please information me.

Dilip Saksena

Answer by Harshad Chetanwala, co founder, MyWealthGrowth.com

The stability of your demat account ought to be ‘nil’ if you wish to shut it. Kingfisher Airlines was delisted by NSE in 2018 and also you will be unable to promote these shares at current and in future. The best method to handle this concern is to switch these shares within the demat account of your member of the family or relative or good friend who plan to make use of demat account for his or her common investments. Practically, these shares have change into nugatory for you, therefore transferring it to their demat account shouldn’t be an issue. If you would not have another holdings in your demat account besides these shares then your demat account is a primary providers demat account (BSDA) and no annual upkeep expenses ought to be levied to your demat account until the time you shut it.

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