Important Update Regarding Handling of Client Securities - Process change
Dear Client,
This is to inform you that by virtue of the SEBI Circular dated November 11,
2022,the securities kept in the Client Unpaid Securities Pledge Account (CUSPA)
shall either be transferred to the demat account of the respective client upon
fulfilment of client’s funds obligation or shall be disposed off in the market
within five trading days after the pay-out.
Consequently, CDSL
has carried out changes recently in the timelines regarding client’s unpaid
securities lying with the broker.
As a result of the
aforesaid change, the clients will now be required to clear their outstanding
towards Client Unpaid Securities Pledge Account (CUSPA) within 4 days from the
Trading day (T day). In case of client’s failure to do so, square-off for the
shares lying in CUSPA will have to be done on T+5 day by 5paisa.
|
Existing process |
Revised process consequent to above change |
|
If outstanding not cleared within T+ 5 days, 5paisa liquidated the shares on T+6 day |
Starting
from Monday i.e. 27th May 2024, if outstanding in client’s
trading account is not cleared within T + 4 days, 5paisa will liquidate the
shares on T+5 day |
Topic Participants
Chirag Meriya