Queries related to demat account linked with RGESS

[samkapoor77]

Due to lack of knowledge, I linked SBI demat account with RGESS. Will I be liable to pay penalty if I sell my stock holdings of Rs. 37,500 and do not purchase another stock of same amount? Since there is a lock-in of 3 years, which date will be considered for 1st year lock-in? Can I delink my demat account with RGESS?

[samkapoor77]

One, as per previous rules known to me, selling your stock without purchasing another is not allowed. Two, investments will be locked for a period commencing on date of that investment. Three, there is no option to delink.

[Sachin]

I have a trading account in Religare, but DP account in Kotak. I had purchased a stock in religare and during quarterly settlement of stocks, the shares got transferred to my Kotak DP.

I planned to sell my shares from Kotak (which were transferred from Religare) which was executed as per my instructions. After several days, now when I am requesting payout of my funds to my bank account, Kotak is requesting for contract notes and Deal slip for the shares that were transferred to Kotak DP. I have contract note, but I can’t get deal slip because I don’t have a DP in religare. I only have a trading account in Religare.

Wanted to check if this is now needed for all transactions for which shares are transferred from Religare to Kotak?

[Author]

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