InvestorQ : Can I modify information submitted at the time of account opening be modified?
Riya Dwivedi made post

Can I modify information submitted at the time of account opening be modified?

Answer
image
Mitali Bhutta answered.
3 years ago
Follow
Yes, you can absolutely modify information that you have submitted to your demat account while opening the account. There are certain restrictions. For example, if you have registered it as an individual account then you cannot convert into a corporate account even if you are a director of the company. You will have to open a fresh account. Secondly, changes in your account name are not permitted except under very select circumstances. For example, when a woman gets married, she can change the name in the demat account by giving a request in the standard application format with a proof in the form of marriage certificate duly notarized or copy of the announcement made in any gazette. Generally, an easier way for you to do that will be to open a fresh account and then transfer your shares from the old account to the new account through off-market transfer.
Typically, changes in details that are a most common change in residential address and change in bank mandate. Both are quite simple and they can be managed with some basic documentation. For example, if you are giving a change of address then the request must be accompanied by the proof of identity and the proof of new address. While passport, Aadhar card are all acceptable, most DPs will insist on a running utility proof like the latest electricity bill, water bill, landline telephone bill etc. There is one point to remember. If you have done e-KYC with your Aadhar then you will have to update your address in the Aadhar record and then give a request to the DP to automatically update from the Aadhar database.
Bank mandate change is also possible through a simple request. As a proof, you need to provide a copy of the cancelled cheque of the new bank mandate. Nowadays cheques are only accepted if the name in full in written on the face of the cheque.
0 Views