Conversion from regular demat a/c to BSDA- current dues?

[chiragwarm]

I have a demat account with IL&FS for 2 years. Trading account is with Zerodha. I have not done a single transaction till date in those demat & trading accounts and still as usual I have been charged 1021.21 as 2 year's AMC inc. penalties by ILFS.

1. Can I convert this account to BSDA demat? I know I can but can I ask them to waive off the amount? Is there any SEBI rule regarding that? Or I will 1st have to pay the amount and then convert?
I have another demat which I will not try in BSDA as we can keep only one BSDA.

Pls help as I don't want to pay this 1k as I have not done a single transaction.

 

[chiragwarm]

Pls if someone can help here

 

[Happy_Singh]

I have a demat account with IL&FS for 2 years. Trading account is with Zerodha. I have not done a single transaction till date in those demat & trading accounts and still as usual I have been charged 1021.21 as 2 year's AMC inc. penalties by ILFS.

1. Can I convert this account to BSDA demat? I know I can but can I ask them to waive off the amount? Is there any SEBI rule regarding that? Or I will 1st have to pay the amount and then convert?
I have another demat which I will not try in BSDA as we can keep only one BSDA.

Pls help as I don't want to pay this 1k as I have not done a single transaction.

Hello Friend

Don't think they will do that, maybe you can request them to waive the penalties . . .


Either way just pay-up the charges, you don't want these small charges to haunt you some day in the future, by spoiling your credit rating or something of this sort . . .

We may not there yet, but soon enough . . .

Anyway its always better to get a closure to these small irritants . . .

if it is possible convert to it, get it done, or close the demat account, just don't leave it hanging . . .

Cheers

Happy