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Swaroop Godbole (advocate)     03 November 2009

changing name in D-mat account

dear sirs

my friend has d-mat and online trading account with ICICI. she  changed her name, followed by her marriage. now she wish to effect her changed name into her dmat a/c. But ICICI denied the same as law prohibits from changing name in dmat account ??

is this so??

kindly guide....



Learning

 2 Replies

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     03 November 2009

This quarry has already been replied in the open forum

A V Vishal (Advocate)     03 November 2009

Since the change is for a Demat account and not a Savings Bank a/c or a current a/c. and a Demat account holds a large no of shares in electronic format of different companies, the change must occur in the company records, merely change in name of an demat account isn't sufficient, what the bank did in denying from changing the name is legally correct.


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