I have created a thread on this topic, but thought to share it here as well, as it would be useful to those who r new to investing.
http://www.traderji.com/equities/35845-keeping-demat-broking-accounts-separate.html#post388242
http://www.traderji.com/equities/35845-keeping-demat-broking-accounts-separate.html#post388242