PAN must for all demat account holders

New Delhi, Jan 23 (UNI) Under the fresh guidelines issued by SEBI, the depositories has made it compulsory to have permanent account number (PAN) for all categories of demat account holders.

The holders include minor, trust, foreign corporate body, banks, corporate, FIIs and NRIs.

The order came into effect in respect of all demat accounts opened on or after April 1, 2006.

Further, from January 1 this year onwards, the existing account holders will not be able to operate the accounts, if they do not complete the PAN verification process, an official statement said today.

As per the latest data upto January 20 this year, the number of total accounts stood at 77.53 lakhs. Out of which, 32.85 lakhs were frozen one and the remaining were active accounts in which PANs were available.

UNI