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In case the investor requests for dematerialised securities in case of rights/ bonus issue without having a depository account, will NSDL open a beneficiary account to credit these?

April 26, 2017Bonus Case dematerialised Depository investor ISSUE requests Rights securities

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In case the investor requests for dematerialised securities in case of rights/ bonus issue without having a depository account, will NSDL open a beneficiary account to credit these?

1 Answer

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No, in such case rights/ bonus would be issued in the physical form. Depository account can be opened only by the prospective account holder or his power of attorney.