Demat Account Freeze: Capital markets regulator SEBI extended the deadline for existing holders of trading and demat accounts in 2021 to choose a nominee or opt out of nomination till March this year. SEBI had in July 2021 requested all existing eligible trading and demat account holders to submit nomination of their choice by March 31, 2022, failing which the trading and demat accounts would be frozen for debit.
So, just over a fortnight is left. If people do not want to freeze their demat accounts, then offer your option of demat nomination.
“The provision regarding freezing of accounts shall come into force from March 31, 2023 instead of March 31, 2022,” Sebi said in the circular citing comments of various stakeholders.
Additionally, it stated that existing investors who had already submitted their nomination information prior to the July release of the circular would not be required to do so again.