a trading account has been frozen because of CBI/income tax order. Can the broker credit the shares which were purchased before the account was frozen and lying in the pool account to the client's demat account ?
Harpreet (freelance) 28 September 2011
a trading account has been frozen because of CBI/income tax order. Can the broker credit the shares which were purchased before the account was frozen and lying in the pool account to the client's demat account ?
Nadeem Qureshi (Advocate/ nadeemqureshi1@gmail.com) 29 September 2011
Dear Harpreet
there is no provision to credit the share
Kumar Doab (FIN) 29 September 2011
Since the a/c has been frozen no transaction in the a/c may be allowed, till the order is withdrawn.
You may approach your lawyer as ap.
harsh asthana (advocate) 01 October 2011
Once the accounts are frozen it can not be operated. How ever you can plead with the tribunal to allow any transaction which is genuine
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