Hot Deal [Urgent Help]Stock holding corporation of india branch sent me bill of Rs 5900 as Demat charges. At online showing 0 due.

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Dimers,

My mother in law had demat account with Stock holding corporation of india and holding few stocks in her account. Today we got call from the Stock holding corporation of india branch and the manager said there is a bill due in the account since 2016 and want us to pay ASAP. I asked them the bill and at first they refused that. After my pressure they sent me bill below
https://cdn0.desidime.com/attachments/photos/671184/medium/7457412e9zPmA3.jpg?1615551069
I even asked them brokers like zerodha are charging less then 300 and why your charges are this much high. They said your account type is different.
When i enter the client id and DP id in their website due amount showing as zero.

Are the branch generated the bill manually thought we are from rural village and we don’t know all these things.
Or is the due amount is correct.

I want you suggestions on how to proceed with this.

@tristar
@Asia @homedimer @BubbleBoyChickenLittle @Original @MrKool_JJ @malikcool @guest_999 @Mr.Bean @drjpatwa @bikidas2060 @letmetravewithyou442 @panchabhut @Shahskm @homedimer @babyboss

47 Comments  |  
20 Dimers
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1,987
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interesting thing , is which stock you are holding grinning

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homedimer wrote:

interesting thing , is which stock you are holding grinning

Union bank of india (earlier it was andhra bank) . Stocks value is worth 15k. Bill is 6k. cry

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It may be correct as different broker charges different for their products. Ask for detailed statement since 2016. Also raise query why no intimations for the same not sent for all these years

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Different agents have different charges. I am having ICICI Direct Account where the annual charges are around Rs.900.

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As per the screenshot, they are charging you 1091.50 AMC including GST. And it seems like they have sent you a bill for the last 5 years. Check your detailed statement Did they debit you any amount for AMC in the last 5 years in case you have funds in that account.

Also found this source where it’s written they have 850 as AMC charges. Exactly as per your screenshot.

https://www.topsharebrokers.com/demat-charges/s...

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malikcool wrote:

As per the screenshot, they are charging you 1091.50 AMC including GST. And it seems like they have sent you a bill for the last 5 years. Check your detailed statement Did they debit you any amount for AMC in the last 5 years in case you have funds in that account.

Also found this source where it’s written they have 850 as AMC charges. Exactly as per your screenshot.

https://www.topsharebrokers.com/demat-charges/s...

Malik bhai, that was spot on.
Please do the needful as pikachu and @guest_999 have said but 800 plus is way too much hushed

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I think if your holding is less than 50k ,many brokers convert demat account to BSDA automatically. in case they have not done it you’re bound to pay that amount if you’re wishing to operate the account.

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Do one thing. Transfer your share to another demat account. And send request for account closure. If they are not closing let it be.

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srinidhiraoj wrote:

Do one thing. Transfer your share to another demat account. And send request for account closure. If they are not closing let it be.

They won’t transfer without clearing dues

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@homedimer @smart @panchabhut @guest_999 @MrKool_JJ @ZNZ @srinidhiraoj @myfungang829
An update guys
I went to Stock holding corporation office and told that i don’t pay this much bill. So they provided me a form schema transfer request and after submitting that, they changed the plan and my bill got reduced 2680. I paid the amount and requested to transfer shares to my demat account.

Planning to close the demat account at Stock holding corporation

Thank you for all your help and suggestions

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For those having total value of less than 2 Lakhs, there is also the option of Basic Service Demat Account (BSDA) which is offered at discounted charge of Rs.100 (completely free if total value is less than 50k). Existing Demat can also be converted to BSDA

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panchabhut wrote:

For those having total value of less than 2 Lakhs, there is also the option of Basic Service Demat Account (BSDA) which is offered at discounted charge of Rs.100 (completely free if total value is less than 50k). Existing Demat can also be converted to BSDA

Yes I think the process is also automatic right? no intervention required from user

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jeff_bezos_amazon_owner wrote:

Yes I think the process is also automatic right? no intervention required from user

Process is not automatic in most cases

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jeff_bezos_amazon_owner wrote:

Yes I think the process is also automatic right? no intervention required from user

I only know about zerodha which does it on an automatic basis.

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@tristar
@Asia @homedimer @BubbleBoyChickenLittle @Original @MrKool_JJ @malikcool @guest_999 @Mr.Bean @drjpatwa @bikidas2060 @letmetravewithyou442 @panchabhut @Shahskm @homedimer @babyboss Dimers
Finally on last Thursday i sold my mother in laws union bank shares and received about 14k. I want to invest the same amount in one stock and choosen below companies. Please suggest which one stock to choose for long term(2-3 years)

  • Adani Enterprises
  • Adani Gas
  • CDSL
  • Granules
  • Happiest Minds
  • IEX
  • Intellect design
  • IRCTC
  • Tata power

Any other suggestions

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Subhodayam wrote:

@tristar
@Asia @homedimer @BubbleBoyChickenLittle @Original @MrKool_JJ @malikcool @guest_999 @Mr.Bean @drjpatwa @bikidas2060 @letmetravewithyou442 @panchabhut @Shahskm @homedimer @babyboss Dimers
Finally on last Thursday i sold my mother in laws union bank shares and received about 14k. I want to invest the same amount in one stock and choosen below companies. Please suggest which one stock to choose for long term(2-3 years)

  • Adani Enterprises
  • Adani Gas
  • CDSL
  • Granules
  • Happiest Minds
  • IEX
  • Intellect design
  • IRCTC
  • Tata power

ipo ke liye rakhlo.. abhi bhut ipo aane wale hain sunglasses

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@Subhodayam as suggested above you can try for IPOs for listing gains & also because of corona 2nd wave there are chances of market correction at which time you will get the opportunity to buy at lower prices.

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Subhodayam wrote:

@tristar
@Asia @homedimer @BubbleBoyChickenLittle @Original @MrKool_JJ @malikcool @guest_999 @Mr.Bean @drjpatwa @bikidas2060 @letmetravewithyou442 @panchabhut @Shahskm @homedimer @babyboss Dimers
Finally on last Thursday i sold my mother in laws union bank shares and received about 14k. I want to invest the same amount in one stock and choosen below companies. Please suggest which one stock to choose for long term(2-3 years)

  • Adani Enterprises
  • Adani Gas
  • CDSL
  • Granules
  • Happiest Minds
  • IEX
  • Intellect design
  • IRCTC
  • Tata power

Any other suggestions

One out of these many grin scream

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Havells

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My accnt wiyh angel Broking is unused since years….. Any risk?

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24karat wrote:

My accnt wiyh angel Broking is unused since years….. Any risk?

Similar case, My father had a old demat account in some regular broker. Any risk?

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InvestPotato wrote:

Similar case, My father had a old demat account in some regular broker. Any risk?

What’s harm in having a demat grin
@deal_heist If you have shares in your acct sweat_smile

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24karat wrote:

My accnt wiyh angel Broking is unused since years….. Any risk?

yes, dormant account can always be used by insiders as conduits.

and in general, bad discipline and carelessness of not being aware of or not giving enough importance to where one’s P.A. number is linked… is a good recipe for ATT/ATM (any time trouble/mischief) knocking on one’s door.
(this is in addition of similar penalties or liabilities as faced by the @OP and their family).

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InvestPotato wrote:

Similar case, My father had a old demat account in some regular broker. Any risk?

yes, dormant account can always be used by insiders as conduits.

and in general, bad discipline and carelessness of not being aware of or not giving enough importance to where one’s P.A. number is linked… is a good recipe for ATT/ATM (any time trouble/mischief) knocking on one’s door.
(this is in addition of similar penalties or liabilities as faced by the @OP and their family).

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anak wrote:

yes, dormant account can always be used by insiders as conduits.

and in general, bad discipline and carelessness of not being aware of or not giving enough importance to where one’s P.A. number is linked… is a good recipe for ATT/ATM (any time trouble/mischief) knocking on one’s door.
(this is in addition of similar penalties or liabilities as faced by the @OP and their family).

Better will close it… Demat is empty

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Subhodayam wrote:

@tristar
@Asia @homedimer @BubbleBoyChickenLittle @Original @MrKool_JJ @malikcool @guest_999 @Mr.Bean @drjpatwa @bikidas2060 @letmetravewithyou442 @panchabhut @Shahskm @homedimer @babyboss Dimers
Finally on last Thursday i sold my mother in laws union bank shares and received about 14k. I want to invest the same amount in one stock and choosen below companies. Please suggest which one stock to choose for long term(2-3 years)

  • Adani Enterprises
  • Adani Gas
  • CDSL
  • Granules
  • Happiest Minds
  • IEX
  • Intellect design
  • IRCTC
  • Tata power

Any other suggestions

Hello @Subhodayam saar,
please do not mind, but reading that first line https://cdn0.desidime.com/attachments/photos/675883/original/7516882_______last_Thursday_Subhodayam_sold_his_mother_in_laws________shares.png
gave me an intial shock for the fraction of a second till i reached the next line.
maybe i am dumb, but that moment was long enough for my imagination to travel across the universe …thinking what you might have done😛 (to your 👵🏼).
.
maybe you could (and my proficiency of English language is sub-par) but you could change some active-passive tense or rephrase it something like… Finally, on last Thursday, i sold the union bank shares of my mother-in-law.
.
.
and if you feel up to it, also posting your query/ seeking guidance in some existing broader topics related to stocks and securities… might help get more eyeballs there too.
.
@BornLegend had one here https://www.desidime.com/discussions/whatsapp-g...

and @marketdimer has https://www.desidime.com/discussions/becomeing-... and few others too.
@[email protected]_R_0_0_D @load runner @bikidas2060 @sabka_apna_jj @soccergiants @ca rajat gurnani or others might be better aware though of the regular topics or regular Dimers in those topics.

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anak wrote:

Hello @Subhodayam saar,
please do not mind, but reading that first line https://cdn0.desidime.com/attachments/photos/675883/original/7516882_______last_Thursday_Subhodayam_sold_his_mother_in_laws________shares.png
gave me an intial shock for the fraction of a second till i reached the next line.
maybe i am dumb, but that moment was long enough for my imagination to travel across the universe …thinking what you might have done😛 (to your 👵🏼).
.
maybe you could (and my proficiency of English language is sub-par) but you could change some active-passive tense or rephrase it something like… Finally, on last Thursday, i sold the union bank shares of my mother-in-law.
.
.
and if you feel up to it, also posting your query/ seeking guidance in some existing broader topics related to stocks and securities… might help get more eyeballs there too.
.
@BornLegend had one here https://www.desidime.com/discussions/whatsapp-g...

and @marketdimer has https://www.desidime.com/discussions/becomeing-... and few others too.
@[email protected]_R_0_0_D @load runner @bikidas2060 @sabka_apna_jj @soccergiants @ca rajat gurnani or others might be better aware though of the regular topics or regular Dimers in those topics.

smile Even I took a pause to process what I am reading.
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ULYSSES wrote:
smile Even I took a pause to process what I am reading.

you meant "my post’ was 😖confounding


😔

Missing