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Frequently Asked Questions (FAQs)
Account Opening & Operations
- Can I open more than one account with ICICI Bank Demat?Do I have to keep any minimum balance of securities in my account?Can someone else operate my account on my behalf on the basis of a power of attorney?
- How do I register a change in my signature with ICICI Bank Demat?
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Dematerialisation
- Can I dematerialise all my depository eligible securities through the same account?Can I dematerialise shares, which are pledged with a bank, which is a DP as well?Can odd lot shares be dematerialised?
- How do I demat shares with Pre-Marital / Maiden names?
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Trading /Settlement
- Can I buy and sell shares through ICICI Bank Demat?Can I deliver dematerialised securities against an obligation in physical segment, in all stock exchanges?
- Is the facility of delivering dematerialised securities in the physical segments of the stock exchanges, available only for those securities that are to be compulsorily sold in the demat segment of stock exchanges by institutions?
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Refer to 'Basic Concepts' for more information on Demat
Account Opening & Operations
1. Can I open more than one account with ICICI Bank Demat?
Ans. Yes, you can open more than one account with ICICI Bank Demat. There is no restriction on the number of accounts you can open with the same Depository Participant (DP).
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2. Do I have to keep any minimum balance of securities in my account?
Ans. No, there is no prescribed minimum balance. You can have a zero balance in your account.
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3. Can someone else operate my account on my behalf on the basis of a power of attorney?
Ans. Yes, if you authorize any person to operate your account by executing a power of attorney (POA) and submit it to us, that person can operate the account on your behalf. If you have given POA earlier and now wish to operate the account yourself, the POA has to be revoked by you in writing.
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4. How do I register a change in my signature with ICICI Bank Demat?
Ans. You would have to make a request in writing. You would also have to get your signature duly attested by your banker, with whom you hold the bank account that has been specified for receipt of dividend.
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Dematerialisation
1. Can I dematerialise all my depository eligible securities through the same account?
Ans. Yes. You can choose to have all your securities deposited in a single account provided that the securities have the same holders.
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2. Can I dematerialise shares, which are pledged with a bank, which is a DP as well?
Ans. Yes, you can, with the permission of the bank with whom such shares are pledged.
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3. Can odd lot shares be dematerialised?
Ans. Yes, Odd lot share certificates can also be dematerialised.
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4. How do I demat shares with Pre-Marital / Maiden names?
Ans. In such cases you need to submit a certified true copy of the marriage certificate along with the Demat Request Form (DRF), when you give your shares for dematting. Also provide an attested new specimen signature.
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Trading /Settlement
1. Can I buy and sell shares through ICICI Bank Demat?
Ans. No, shares can be bought and sold only through a stockbroker. ICICI Bank Demat helps in delivering the shares against a sell transaction or receiving the shares for a buy transaction. You can open an account with icicidirect.com to avail of seamless trading and settlement.
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2. Can I deliver dematerialised securities against an obligation in physical segment, in all stock exchanges?
Ans. Yes, SEBI has permitted dematerialised securities to be delivered against obligations in the physical segment at the stock exchanges connected to the depository.
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3. Is the facility of delivering dematerialised securities in the physical segments of the stock exchanges, available only for those securities that are to be compulsorily sold in the demat segment of stock exchanges by institutions?
Ans. No, dematerialised securities of all the companies that are eligible for dematerialisation can be delivered against obligations in the physical segment. This also applies to delivery against auction of securities in the physical segment.
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Basic
Concepts
1. General
2. Dematerialisation
of Securities (Demat)
3. Sale
/ Delivery of Securities
4. Purchase
/ Receipt of Securities
5. Rematerialisation
6. Pledge
7. Freezing
/ Defreezing
8. Corporate
Benefit - Dividend, Bonus or Rights Issue
9.
Public Issue
10. Nomination
11. Transmission
12. Demat
Account Statement
13. Registration
for Internet/Phone Access & e-instructions
14. Mobile
Banking
15. Consolidation Demat Account
16. Billing
& Payments
17. Change of Address & Bank Details
18. Change
of Rate Card
19. Closure
of Account
20. Account
Security
Annexure 1:
Sample
Filled-up DRF
Annexure 2:
Sample
Filled-up TIFD For Market Trades
Annexure 3:
Sample
Filled-up e-instruction form
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1.
General
A Depository is like
a bank where securities are held in electronic (dematerialised)
form. In India, there are two Depositories -National Securities
Depositories Limited (NSDL) and Central Depository Services Limited
(CDSL).
Under the Depositories
Act, investors can avail of the services of the Depositories through
Depository Participants (DP) such as ICICI Bank. DP's are like bank
branches wherein shares in physical form need to be deposited for
converting the same to electronic (demat) form.
2. Dematerialisation
of Securities (Demat)
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2.1 Availability
of Forms
2.2 Filling up the form
2.3 Submitting the form
2.4 Credit in the Demat Account
2.5 Rejection of Demat Requests
2.6 Transmission-cum-Demat
2. Dematerialisation of Securities (Demat)
Dematerialisation is
the process of converting the securities held in physical form (certificates)
to an equivalent number of securities in electronic form and crediting
the same to the investor's demat account. Dematerialised securities
do not have any certificate numbers or distinctive numbers and are
dealt only in quantity i.e. the securities are fungible.
Dematerialisation of
your holdings is not mandatory. You can hold your securities either
in demat form or in physical form. You can also keep part of your
holdings (in the same scrip) in demat form & part in physical
form. However, a select list of securities announced by SEBI can
be delivered only in demat form in the stock exchanges connected
to NSDL .
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2.1
Availability of Forms
Submit a completely
filled up Demat Request Form (DRF) in triplicate for each ISIN along
with defaced physical securities. We have provided you with one
blank Dematerialisation Request Form (DRF). Additional forms are
available at any of the ICICI Bank branches offering Demat Services.
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2.2
Filling up the form
Ensure that security
mentioned on the certificates is eligible for Demat. For being eligible
for demat, the company has to sign up with NSDL. You can check eligibility
on www.icicibank.com or
ask the nearest Branch.
Use a separate DRF
for each security having a unique International Security Identification
Number (ISIN). Verify the certificates carefully and mention the
correct ISIN. In case two or more sets of certificates of the same
security have different ISIN (this is possible in case of partly
paid up shares and non-pari passu shares), use separate DRFs for
each ISIN. However, you can dematerialise multiple folio nos. of
the same pattern of holders relating to the same ISIN under a single
DRF.
Submit certificates under lock-in under separate DRF. Do not mix
the same with free securities. In case of locked-in securities,
fill up the lock-in reason & lock-in release date on the DRF.
Amongst lock-in securities belonging to the same ISIN but having
different lock-in release dates or lock-in reason, make separate
DRF requests.
Demat requests received from client(s) with name(s) not matching
exactly with the name(s) appearing on the certificates merely on
account of initials not being spelt out fully or put after or prior
to the surname, can be processed. However, this is possible only
if the signature(s) of the client(s) on the DRF tallies with the
specimen signature(s) available with the Issuer or its Registrar.
For example, the shareholder may have opened the depository account
in the name of Sushil Ramesh Shah but his name on the share certificate
may appear as S. R. Shah or Sushil R Shah etc.
The combination and the order of holders' names on DRF and as printed
on the Certificates should be identical with that in the DP account.
For example, if the shares are in the name of X, Y (X as first holder
and Y and second holder) it cannot be dematerialised in the account
of either X or Y alone. Also if the shares are in the name of X,
they cannot be dematerialised in the account of X, Y (X as first
holder and Y as second holder).
However, where the combination of holders is the same in the certificates
and in the demat account, and the difference is only in the order
in which the name of the holders appear on the share certificates
and in the demat account, dematerialisation is possible. Here, you
have to submit a Transposition Request Form along with the DRF.
The form is also available at the nearest Branch.
The DRF must be signed by all the account holder's and should be
in the same order. The signature on the DRF should match with the
specimen signature with ICICI Bank. If the signature differs, you
should sign the DRF in the presence of the Branch Officer. If you
have a doubt that the signature on the DRF may not match with that
registered with the Registrar, you can get the signature on the
DRF attested by your banker.
The details of certificates such as the folio no., certificate no.,
& distinctive no. must be filled up correctly on the DRF.
For help on filling
up, refer to the sample
filled-in DRF provided in Annexure - 1.
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2.3
Submitting the form
You must deface the
certificates by putting a stamp or by writing ''Surrendered for
Dematerialisation". However defacing should be done only after
checking the eligibility of security, as defaced securities cannot
be sold in physical form. If defacing has been done by mistake then
you should send the same to registrar for replacement.
*NSDL
Business Rule 11.1.7.
The
Participant shall ensure that the certificates submitted for dematerialisation
are marked
by the Client (customer) with the words "Surrendered for
Dematerialisation".
Certificates should
not be mutilated or defaced in such a way that the material information
is not readable.
Ensure that the certificates are attached in the same order as mentioned
in the DRF.
You should submit the DRF in triplicate. You can submit the DRF
at any ICICI Bank branch. The acknowledgement slip at the bottom
of the form will be stamped and handed over to you after verification
by the ICICI Bank official.
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2.4
Credit in the Demat Account
The defaced shares
along with the DRF are sent by ICICI Bank to the registrar who will
then credit the customer's account. The normal time taken for credit
of shares to the account after confirmation by the Registrar is
about 30 days. However the time taken would vary from one registrar
to another over which ICICI Bank has no control.
To check whether your account has been credited, you can refer to
the transaction statement (Refer # 12, below). The same will be
reflected in pending demat balance on receiving your request. After
dematerialisation, the same will be reflected under free balance.
Alternatively you can use the web (register on www.icicibank.com),
phone us or visit the ICICI Bank branch. In case your account does not get credited within a month of submission, you can either phone us or write to us using the "Email Us" option.
In case there is a delay beyond 40 days, if you so wish, ICICI Bank
can give you the registrar's name and telephone number as well as
your Demat Request Number (DRN).
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2.5
Rejection of Demat Requests
Your request may get
rejected for various reasons either at the Central Processing Office
of ICICI Bank or by the Registrar. Dematerialisation is done by
the Registrar only when it is satisfied of genuineness of securities
& ownership status.
On a rejection, the securities are sent back to you stating the
reason for the rejection.
You can resubmit the certificates for dematerialisation after resolving
the reason for the rejection. Please resubmit on a fresh DRF. Do
not use the same DRF on which the objection was made.
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2.6
Transmission-cum-Demat
In case of certificates
held jointly, on the death of any one or more of the joint holder(s)
mentioned on the certificate, the surviving joint holder(s) can
get the name(s) of the deceased deleted from the physical certificate(s)
and get the securities dematerialised in the DP account of the surviving
holder(s) by submitting the following documents along with the DRF:
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3. Sale
/ Delivery of Securities.
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3.1 Getting
instruction slips (TIFD/IDT booklets)
3.2 Filling up an instruction slip (TIFD/IDT)
3.3 Submitting the form
3.4 Debit in the Demat Account
3.5 Failure to execute Instructions
3.
Sale/Delivery of Securities.
Securities transactions
can be settled in demat form for the transactions done on stock
exchanges connected to NSDL. At present, NSE, BSE, CSE, DSE, LSE,
BgSE, OTCEI, MSE, ISE & ASE are connected to NSDL. Trading in
dematerialised securities is done through your broker just like
trading in physical securities.
Sell
dematerialised securities
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You can sell your
dematerialised securities in any of the stock exchanges linked
to NSDL through a broker of your choice. |
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You need to give a
'delivery instruction' to your DP for debit of your depository
account and credit of your broker's clearing member account. |
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You receive
payment from the broker for the sale in the same manner you
would receive payment for a sale in the physical mode. |
Buy dematerialised
securities
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You can purchase securities
in any of the stock exchanges connected to NSDL through a broker
of your choice and make payment to your broker. Make sure you
tell your broker you want only demat shares. |
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Broker receives credit
in his clearing account with his DP on the day of payout. He
can immediately transfer these securities to your depository
account, provided your account is already active. |
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Broker
gives instructions to his DP to debit his clearing member account
and credit your depository account. |
Delivery of security
To deliver securities in electronic form, you have to authorise
the DP to transfer balances from your account.
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You must give
a debit authorisation to ICICI Bank in the booklet of instruction
slips provided to you. The slip should be given physically
at the nearest Branch.
(You can also register for the e-Instruction facility to submit
transfer instructions through Internet / IVR (Interactive
Voice Response System) on Phone and with "Speak to Transfer"
through our Phone Banking Officer )
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In the instruction
slip, you have to mention the counter-party account details.
The counter-party account may be within the same DP (Intra-DP
transfers) or with a different DP (Inter-DP transfers) within
NSDL or with another depository - CDSL (Inter Depository Transfers).
For transfers within NSDL, a TIFD (transfer instruction for
delivery) is required. For transfers to a CDSL account, an IDT
(inter-depository transfer instruction) is required. |
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3.1
Getting instruction slips (TIFD/IDT booklets)
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You are provided
a "Personalized TIFD booklet" at the time of opening the account.
You will need to use slips from this booklet for all your transfers. |
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For IDT
(Inter Depository Transfer slips), request for the same in writing
to the nearest Branch. The request should be signed in presence
of the Branch Officer. Ensure you use slips allotted to your
demat account only as per business rules of NSDL. |
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Please do not use
someone else's slip since that will not be accepted by the system
and also cannot be processed as per business rules of NSDL. |
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Please do not give
your blank slip to anyone as this may lead to frauds and associated
complications. If you lose your booklet, report the same in
writing (under signature of all account holders) to the nearest
Branch immediately. |
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If you are nearing
exhaustion of all slips in the booklet, you can request for
reissue of a new booklet by visiting nearest bank branch. Submit
the request on the requisition slip present in your existing
booklet. Where you are unable to present the request on the
requisition slip, you can submit a letter. However, the letter
should be signed in presence of the Branch Officer You can also
register for the Internet Banking and Phone Banking facilities
to submit the request on Internet / Phone. |
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The booklet will
be couriered to you and will reach you within a week from the
date of submitting the request. |
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On
receiving your booklet, verify that your DPID, DP Account No.
and name is present on all slips including the Requisition slip.
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In emergencies where
you have exhausted your TIFD/IDT booklet and cannot wait for
the time required to fulfill your request for a new booklet,
you can also get TIFD / IDT slips issued across the counter
for emergency use.
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For getting an emergency
slip from your branch:
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You have to personally
visit your home branch |
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You have to personally
visit your home branch |
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You have
to request for the slip on the prescribed form available at
the branch. |
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TIFD / IDT issued
in such a manner are valid only for immediate use |
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3.2
Filling up an instruction slip (TIFD/IDT)
The request should be filled up in the appropriate slip issued to
you. For transferring securities to an account within NSDL, use
TIFD slips. For transferring securities from an account within NSDL
to an account with CDSL, use IDT slips.
There are two common types of accounts
within NSDL - beneficiary accounts (opened by the normal investors)
and clearing member pool accounts (opened by brokers). Accordingly
there are two types of transfers possible with TIFDs.
An instruction for transfer of security
from a Beneficiary Account to a Clearing Member Account (Broker's
pool account) is termed as a Market TIFD. This is for delivering
securities to the broker for onward delivery to the stock exchange
towards fulfilling settlement obligations in respect of trades done
on a stock exchange (Market Trades).
An instruction for transfer of security
from a Beneficiary Account to another Beneficiary Account is termed
as an Off Market TIFD (Off Market Trades).
The following points are to be noted:
Details are to be filled up only
for Market Trades on a TIFD slip.
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CM-BP-ID:
This is the Clearing Member Business Partner ID of the Broker
to whom the securities are to be transferred. The CM-BP-ID is
an 8 character code starting with 'IN' provided by NSDL to the
clearing member. You should find this out from your broker.
Any incorrect entry can result in transfers to the wrong account. |
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CM Name:
This is the name of the Broker to whom the securities are to
be transferred. This is the market type on which the trade has
been done by your broker. The stock exchange has separate segments
for each market type in which the orders are matched e.g. Rolling,
Rolling Odd Lot, etc. You should confirm this with your broker.
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Market Type:
This is the market type on which the trade has been done by
your broker. The stock exchange has separate segments for each
market type in which the orders are matched eg. Rolling, Rolling
Odd Lot, etc. You should confirm this with your broker. |
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Settlement
No: This is the settlement no. in which the trade has
been done by your broker. This is a 7-character code. You should
confirm this with your broker. |
You should submit the
slip latest by 4 p.m. on business day prior to the execution date.
TIFDs received after 4 p.m. will be accepted on 'Best Effort' basis
and ICICI Bank does not undertake any liability for its non-execution.
They may also attract a late charge (Please refer the rate card).
In case of market trades, also ensure that the execution date is
specified such that securities are transferred to the pool account
before the exchange pay-in deadline.
Strike out the portion relating to
Off - Market Trades.
Details to be filled up only
for Off-Market Trades on a TIFD slip.
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DP ID: This is the
Depository Participant ID with whom the target account (the
account to which the securities are to be transferred) is maintained.
It is 8-character starting with 'IN'. You should find this from
the target account holder. Incorrect DP ID may result in transfer
of securities to a wrong account. |
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DP Name: This
is the name of the Depository Participant with whom the target
account is maintained. You should find this from the target
account holder. Please note that this is not the name of the
account holder.
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Client ID: This
is the 8-digit account number of the target account. You should
find this from the target account holder. Any incorrect entry
can result in transfers to the wrong account.
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Strike out the portion relating to
Market Trades
Details to be filled up only
in an IDT slip.
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Depository
ID: This is the Depository ID for CDSL. It is
'IN000026'. |
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Client
ID: This is the 16-digit account number of the target
account (the account to which the securities are to be transferred).
You should find this from the target account holder. Any incorrect
entry can result in transfers to the wrong account.
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Details to be
filled up in both TIFD slips (for both Market and Off-Market Trades)
and IDT slips.
You may issue the instruction
well in advance of the date on which you want the securities to
be debited from your account. By giving a future dated instruction
you cover the risk against non-execution of instruction due to lack
of time or last minute rush.
You should submit the slip latest by 4 p.m. on business day prior
to the execution date. TIFDs received after 4 p.m. will be accepted
on 'Best Effort' basis and ICICI Bank does not undertake any liability
for its non-execution. They may also attract a late charge (Please
refer the rate card). In case of market trades, also ensure that
the execution date is specified such that securities are transferred
to the pool account before the exchange pay-in deadline.
Example for
applicability of Best Effort Stamp & Late Charges:
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Instrution
Submitted on
|
ExecutionDate
on
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Best
effort Stamp
|
Late
Charges*
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| Monday
(day T ) |
Wednesday(day
T+2)
|
No |
No |
| Tuesday
(day T+1 ) till 4 p.m. |
Wednesday(day
T+2) |
No |
No |
| Tuesday
(day T+1 ) after 4 p.m. |
Wednesday(day
T+2) |
Yes |
No |
| Wednesday(day
T+2 )before Pay-in deadline |
Wednesday
(day T+2) at 10:30 AM for on- Market &
7:30 for offmarket |
Yes |
Yes |
*Late
charge is Rs.10/- per ISIN
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Signature:The
slip must be signed by all the account holder's as per the specimen
registered with ICICI Bank. In case of personalised booklets,
the names of all holders are preprinted. Mismatch in signature
of even one of the joint holder's results in the rejection of
the TIFD. For help on filling up, refer to the sample
filled-in TIFD provided in Annexure 2. |
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3.3
Submitting the form
You can submit the TIFD at any ICICI Bank branch. Take the acknowledgement
copy after stamping by the ICICI Bank official.
You may issue the instruction well
in advance of the date on which you want the securities to be debited
from your account. By giving a future dated instruction you cover
the risk against non-execution of instruction due to lack of time
or last minute rush. You should submit the slip latest by 4 p.m.
of the business day before the execution date (i.e. there should
be one clear working day gap between the date of submission of the
TIFD and the execution date).
Transfer instructions should not be
submitted for execution day as holiday. If there is a holiday in
between, instruction should be submitted one day in advance.
Submitting TIFD / IDT through
Internet
Submitting TIFD
/ IDT through IVR
Submitting
TIFD / IDT through "Speak to Transfer"
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3.4
Debit in the Demat Account
There will be a debit in your account on the execution date specified
in the instruction. You can check the same in your transaction statement.
You can also check the same on
www.icicibank.com or through IVR or visit the nearest Branch.
You will also receive an alert for the success/failure of the transfer
on SMS (registration form for "Mobile Alerts" on www.icicibank.com
.
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3.5
Failure to execute Instructions
An instruction can fail either at the Central Processing Office
of ICICI Bank or at NSDL.
A failure can happen at the Central Processing Office on account
of signature mismatch or if the TIFD slip is incomplete or not properly
filled up. Please take due care while filling up the TIFD. There
can be a failure at NSDL if your account does not have the required
number of specified shares or problem with the target a/c.
You will be intimated about the failure
through a letter. On receipt of such intimation, the customer should
do the needful in terms of submitting a correctly filled TIFD taking
into account the reasons for rejection as intimated to you.
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4. Purchase
/ Receipt of Securities
All purchase/ receipt of securities in your account is effected
as per your 'Standing instructions for Credit' given to ICICI Bank
to receive credits automatically in your account. You normally give
such a standing instruction in the account opening form itself.
You can give it later also by writing to the DP.
If you have not given a standing instruction
for receiving credits, you are required to give a specific receipt
instruction for each credit in the prescribed form.
The date of credit will depend on your broker's instructions and
ICICI Bank has no control on the same.
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To ensure proper
credit in your account, please instruct your broker to credit
the shares to your account number with ICICI Bank. For this,
give your Demat account number and the ICICI Bank DP ID to the
broker. |
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Please note that
you must settle your money transaction independently with the
broker. |
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5.
Rematerialisation
5.1 Form
5.2 Filling up the form
5.3 Submitting the form
5.4 Receipt of Physical Shares
5.5 Rejection of Remat Requests
5.6 Repurchase of units of UTI US ' 64
5. Rematerialisation
Rematerialisation is the process of converting the securities held
in electronic form in a demat account to an equivalent number of
securities in physical form (certificates) after debiting the same
from the demat account.
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5.1
Form
Submit a completely filled up Remat Request Form (RRF) in triplicate
for each ISIN. Forms are available at any of the ICICI Bank branches.
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5.2
Filling up the form
Ensure that the RRF is completely filled up. Incomplete details
may lead to rejection of the remat request.
Use a separate RRF for each eligible
security. Please ensure that name of the security and the ISIN number
is entered correctly.
Submit requests for balances under lock-in through a separate RRF.
Do not mix the same with free securities. Amongst lock-in securities
belonging to the same ISIN but having different lock-in release
dates or lock-in reason, make separate RRF requests.
You should mention the lot types whether
Jumbo or Market Lot clearly. If the same is not filled up then the
registrar will send certificates in market lot.
You must have sufficient free balance
in your account for the ISIN for which the RRF is submitted.
The RRF must be signed by all the account
holder's and should be in the same order. The signature on the RRF
should match with the specimen signature with ICICI Bank.
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5.3
Submitting the form
You should submit the
RRF in triplicate. You can submit the RRF at any ICICI Bank branch.
The acknowledgement slip at the bottom of the form will be stamped
and handed over to you after verification by the ICICI Bank official.
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5.4
Receipt of Physical Shares
The RRF is forwarded
to the registrar. On acceptance of the remat request by the registrar,
your account will be debited. The physical share certificate will
be sent directly to you by the registrar. You can also check the
same on www.icicibank.com
or through IVR or phone us or visit the nearest Branch. You will
also receive an alert for the success/failure of your request on
SMS (registration form for "Mobile Alerts" on www.icicibank.com).
The normal time taken for receipt of
the physical shares is within a period of 30 days. However the time
taken would vary from one registrar to another over which ICICI
Bank has no control.
In case you do not receive the physical shares within a month of submission, you can either phone us or write to us using the "Email Us" option, so that we can check with the registrar.
In case there is a delay beyond 40
days, if you so wish, ICICI Bank can give you the registrar's name
and telephone number as well as your Remat Request Number (RRN).
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5.5
Rejection of Remat Requests
Your request may get
rejected for various reasons either at the Central Processing Office
of ICICI Bank or by the Registrar. On a rejection, you will be informed
about the reason for rejection of the request.
You can submit a fresh request after
resolving the reason for the rejection.
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5.6
Repurchase of units of UTI US '64
For and on behalf
of National Securities Depository Limited
All Participants are hereby informed
that Unit Trust of India (UTI) has intimated to NSDL about the conversion
of US64 units in demat to 6.75% tax free GOI US64 bonds. Further,
UTI has also intimated that rematerialisation/dematerialisation/repurchase
requests for US64 units held under ISINs INF189A01095, INF189A01129,
INF189A01103, INF189A01137, INF189A01111 and INF189A01145 should
not be accepted after May 31, 2003. A copy of letter no. UT/DOO/849/opr-160/2002-03
dated May 28, 2003 is enclosed for the information of Participants.
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6. PLEDGE
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6.1 Form
6.2 Filling up the form
6.3 Submitting the form
6.4 Execution of the Instruction
6.5 Rejection of Pledge Requests
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6. Pledge
Securities held in demat form can be pledged/hypothecated by the
client to avail of loan/credit facility. Pledge of securities in
NSDL depository requires that both the borrower (pledgor) and the
lender (pledgee) should have a demat account with any of the DPs
with NSDL. The facility for Inter Depository pledge (where pledgor
and pledgee has a demat account with different depositories) is
not available.
Please note that financial transactions are handled outside the
depository system. However, even after the securities are pledged,
the pledgor continues to remain the beneficiary holder of those
securities and will receive benefits of a corporate action, if any.
With "Speak to
Transfer", transfer or pledge your Securities by just speaking
to our through our Phone Banking Officer. No need to submit physical
instructions at the Branches. Visit the nearest ICICI Bank branch
and register for e-instruction.
Following
are the steps involved in Pledge/Hypothecation
-
Creation of Pledge:The
pledgor submits duly filled in Pledge Request Form to his DP for
Creation of Pledge. On execution of the instruction by the DP
a pledge order no. is generated for each ISIN.
-
Confirmation of Pledge Instruction:The
pledgee submits duly filled in Pledge Request Form quoting the
Pledge Order No. (given by the pledgor) to his DP. On execution
of the instruction the shares are marked as pledged in the pledgor's
account. Pledge balances cannot be transferred.
-
Closure of Pledge Instruction:The
pledgor submits duly filled in Pledge Request Form to the DP for
release of pledge. The pledgor does this after he has repaid the
loan received from the pledgee.
-
Closure Confirmation of Pledge
Instruction: The pledgee submits duly filled in
Pledge Request Form for confirmation of release of pledge to his
DP. The pledgee would do this after ensuring that the pledgor
has repaid the loan/credit facility extended to him. On execution
of instruction the shares move from pledge balance to free balance
in the Pledgor's account.
-
Invocation of Pledge Instruction:
The Pledgee submits duly filled in Pledge Request Form quoting
the pledge order no. to his DP. On execution of instruction the
shares moves from the pledged balance of the Pledgor's account
to free balance in the Pledgee's account. The pledgee does this
when the pledgor has failed to repay the loan as per his obligations.
-
Confirmation of Invocation
of Hypothecation Instruction: The difference between a
pledge and a hypothecation request is that whereas invocation
of pledge can be done unilaterally by the pledgee, a confirmation
of the pledgor is required in the case of invocation of hypothecation.
For this pledgor submits duly filled in Pledge/ Hypothecation
Request Form to the DP.
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6.1
Form
There is a common form
for all pledge requests given above. Typically, you would need to
use it at the time of creation and at the time of closure of a pledge.
Forms are available at any of the ICICI Bank branches.
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6.2
Filling up the form
There is a common pledge/hypothecation
form for all types of instruction. You must tick the appropriate
box to indicate the instruction type.
You should clearly indicate whether the instruction is for Pledge
or Hypothecation.Ensure that the Pledge form is completely filled
up. Incomplete details may lead to rejection of the pledge request.
You should enter the DPID and Account number correctly on the space
provided on the left-hand side of the form. You should enter the
counter-party details correctly on the space provided on right hand
side of the form.
You must fill up the Agreement number as provided by the pledgee.
This refers to the pledge agreement signed between the pledgor and
the pledgee.
You must fill up the Closure date as provided by the pledgee. This
is referred in the pledge agreement signed between the pledgor and
the pledgee.
You must fill up the ISIN & security name of the security to
be pledged.
If the shares are under lock-in then you should fill up the lock-in
reason and lock-in release date in the space provided.
The no. of securities should be filled up correctly in the space
provided. In case of pledge creation, you must have free balance
in the ISIN mentioned.
The instruction must be signed by all the account holder's and should
be in the same order. The signature on the request should match
with the specimen signature with ICICI Bank.
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