Question:

Does the Depository Participant have the right to suspend India HDFC Bank's demat account?

by Guest2626  |  10 years, 10 month(s) ago

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I am collecting information on India HDFC Bank. I want to know, Does the Depository Participant have the right to suspend India HDFC Bank's  demat account?

 Tags: account, banks, demat, Depository, HDFC, India, Participant, suspend

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1 ANSWERS

  1. Guest1742
    The Depository Participant has the right to suspend a demat account in case it receives an order to the effect from the Depository, Income Tax Dept., Court of law, any other regulatory body or for non payment of charges to the Depository Participant. Once the account is suspended no transactions are allowed in the account, but benefits arising due to any Corporate Action are credited to the suspended account. The DP will intimate the client of suspension of its account.

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