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 ?

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