Ensure completion of this task within the next 11 days, especially if you are actively involved in stock market trading. Demat account and mutual fund account holders must finalize their tasks by December 31, 2023. Failure to do so will result in the inability to engage in buying or selling shares in the stock market in the upcoming year.
Mandatory to file Demat nominee
All individual demat account holders are required by the Securities and Exchange Board of India (SEBI) to submit their nominee information to continue buying or selling shares on BSE and NSE. This task must be accomplished by December 30, 2023, giving investors 11 days to complete the process. Failure to file the nomination by December 31 will result in the freezing of your account, rendering you unable to participate in stock market transactions until the nominee details are updated.
SEBI has repeatedly extended the deadline for nominee filing
SEBI has consistently extended the deadline for nominee filing. The initial deadline, set for March 31, 2022, has been repeatedly pushed back. The most recent extension moved the deadline from September 30, 2023, to December 31, 2023.
In conclusion, In light of SEBI’s extensions, it is imperative for all investors, particularly those actively trading in the stock market, to promptly complete the nomination filing for their Demat accounts. The December 31, 2023 deadline is final, and failure to comply may lead to account freezing and the inability to engage in stock market transactions in the upcoming year. Take the necessary steps within the next 11 days to ensure uninterrupted access to buying and selling shares.