Investors asked to submit PAN details to depositories
New Delhi, July 23 (UNI) Investors holding stocks in their electronic accounts will not be able to avail of demat services, if they do not submit Permanent Account Number (PAN) details to the depositories by September 30,2006.
The National Security Depository Ltd (NSDL) has directed all the depository services to seek PAN details from their clients, failing which they would not be allowed to operate the demat accounts.
Submission of PAN details has also been made mandatory for all those investors who want to open new permanent accounts, market sources told UNI.
''As per a NSDL directive, it has become mandatory for all the demat account holders to submit their PAN details to their depository before September 30, 2006.
In order to update your PAN, we request you to submit a copy of your PAN card/Co- holders PAN card, before the due date'', said one of the depositories in a letter addressed to their clients.
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