Ishan, each of these entities have several moving parts. Not easy or wise to club them 🙂

Zerodha itself 🙂

Hi Glen, welcome back 🙂

As a first step, I’d suggest you reach out to the DP team from Zerodha to get an overview of the process and then follow it accordingly. It will be much easier that way. I’m assuming you have an account with us already?

Going through every single comment is long but sometimes there are hidden gems. So worth it.
I have a situation similar to https://zerodha.com/varsity/chapter/financial-intermediaries/#comment-61774 I was hoping if there is an answer.

My mother owned physical shares of Reliance Industries. (No nominees recorded then) She passed away and we never transferred those shares. They are still in physical format.
My father passed away last year.
My sister and I live abroad and want these shares transferred into our names.

I understand from the past that we will need to go through the process of creating a Succession Certificate.
My question. Would this be the following process
1. Hire a consultant (advocate someone) to help with the succession certificate. Does Zerodha provide any references for the same?
2. Create a joint ac with Zerodha
3. Initiate the process of transfer.

In case my sister is okay with transferring it in my name (due to the logistics of her coming down with the kids) I guess that she has to provide some NOC. Does this work differently for the transmission of shares?

Appreciate your and Zerodha’s initiative.

Thanks,
Glen

Brokers have no control over banking operations, Puneet. This is outside broker’s scope of work.

This is unfortunate. Firstly, the funds or securities cannot be withdrawn or moved without your consent. The good thing with the system is that there is a proper trail of money and securities. Here is what you can do, and I’m guessing you’ve already done this, but anyway –

1) Show the NSDL statement to indicate that your DEMAT had the MF Units.
2) Show bank statement (or trading account ledger) to show debit of funds towards the purchase of securities.
3) Show the bank statement for April, May, June, July, Aug etc to indicate that there is no refund of funds.

With these documents, you can reason with the staff of the broking company. If there is no proper explanation, then you can take this to the regulators via SCORES platform – https://scores.sebi.gov.in/

Good luck.

HDFC securities through whom i conducted the transaction has not credited my account with any refund. On enquiring with them they have confirmed no such refund transaction to my account. The payment has been made from my HDFC Bank account.
It is ridiculous that HDFC Demat has fraudulently withdrawn Units from my demat account without any express instruction from me. I have been kept in the dark and just found out after 5 years, on checking and tallying the demat account.
Is HDFC Bank Demat allowed to withdraw my units without informing me and without even paying refund of the original amount which I had invested? The amount i had invested has appreciated by more than 150% but now i find that the very units are cancelled. Who is responsible for this loss of mine and against whom should i file case against??

Stock broker is the conduit for all transactions. Imagine, if you are with Zerodha and someone else is trading with ICICI, then without a central agency, how can trades clear?

i doesn’t understood the role of clearing corporation, like if clearing corporation make settlement of trades then what stock broker will do. can you explain what is the how a stock broker is differ from a clearing corporation ?

I’m tempted to tell you that Zerodha on boarded with CDSL and created a playbook, and the rest copied 🙂

Why do maximum brokers become DP for CDSL and not NSDL ? Because i checked on official websites of CDSL and NSDL and i noticed that many brokers such as Zerodha, Groww, Angel One, etc. are DP for CDSL and not NSDL