InvestorQ : I am having shares purchased through Karvy long back. Now I want to sell the shares or transfer to another new DP account?
Purvesh made post

I am having shares purchased through Karvy long back. Now I want to sell the shares or transfer to another new DP account?

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Rashi Mehra answered.
6 months ago
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Let me answer your question in two parts. Firstly, are the shares transferred to your demat account and is it a freehold share. That means, it is not pledged or under lien in any way? If that is the case, you can transfer it to another DP using off-market transfer. That should get done in just one day.

If your shares are still in the Karvy trading pool account, then you have a problem because now the dues will boil down to how much are going to be paid from the Investor Protection Fund or the IPF of the stock exchange clearing corporation. Let me also add that Karvy DP business is going to continue and only the stock broking membership is cancelled. But, the sooner you get out of that place, the better it is. Also file a complaint with SEBI and NSDL.

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