National Securities Depository Limited (NSDL) has issued a Circular dated January 4, 2018 stating that Participants are required to use only Transfer of Holding module on the electronic Depository Participant Module (e-DPM) system to process account closure and transmission requests where the target account is in NSDL. Participants are required to adhere to the aforesaid compliance latest by January 31, 2018.
In respect of account closure or transmission requests where the target account is in Central Depository Services Limited (CDSL) or in case of transmission in an account with multiple nomination, Participants must continue to process such requests through the inter-depository or account transfer module.
[Circular No.: NSDL/POLICY/2018/0001]