How can I add Beneficiary Demat account(s) for executing OffMarket Transfer?
Off-market transactions involving NSDL and CDSL will be processed only if the Demat Account of the Buyer (Transferee Account) is registered as a Beneficiary under the Demat Account of the Seller (Transferor Account).
Seller clients can register the buyer's account as a beneficiary through Geojit Financial Services Ltd or their SPEED e-login.
For those opting to use Geojit, the procedure to register the buyer account as a beneficiary is as follows:
- The seller client must complete and submit the 'Registration Form - NSDL, CDSL,' ensuring it is duly signed and filled.
- Provide essential details in the registration form, including the seller Demat account, buyer Demat account, buyer PAN, buyer PAN exemption flag (if applicable), and buyer account's depository flag (CDSL/NSDL).
- After successful validation, a link shall be generated and sent by NSDL on Mobile number and email ID as registered in demat account of transferor client for authentication.
- On clicking the said link, transferor client will be redirected to a web page where after authentication, the details of target Beneficiary demat account will be displayed. On OTP confirmation, request for addition of target Beneficiary demat account will be processed and shall be added to the list of beneficiaries.
Note : Click here to view the NSDL and CDSL circulars