Shifting of NRE PINS account from one DP to another DP ?

POSTED BY nilangekargt ON February 6, 2015 9:59 am NO COMMENTS

I opened PINS NRE / NRO account with HSBC and purchased shares after operating for year or two HSBC decided to close the dp business and I was asked to shift to other dp. I opened ICICI banks PINS NRE / NRO account with required permission from RBI also HSBC provided holding and procurement details for shares in PINS accounts.

For last one year I am struggling to sale my shares through PINS account of ICICI . ICICI says that these shares are not procured under PINS because it is transferred from other DP.  I am still NRI and I understand that shares procured under PINS need to be sold as PINS irrespective of dp holding it.

Guide me is my understanding correct and course of action I shall take ?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today