There is a DMAT acccount with HDFC in joint name of me & my wife. Another one in Geojit in joint name of me & my wife only. My wife expired two month ago. After her demise, I transferred all shares held in Geojit account to HDFC on basis of post- dated delivery instruction slip that my wife had signed & given to me.(off market transaction) before her demise
Now two months later when I gave transmission request to HDFC (to delete my wifes name), they are asking for explanation of credit transaction in the joint account post my wifes death ? Can they ask for such an explanation ? Are they not duty bound to transmit shares to my single name post my wifes death ? Are they an interested party in this? Please give reference to law / NSDL rules / SEBI guidelines
Please let me know what kind of explanation is to be given ? My wife had repaid loan to me.....
Now two months later when I gave transmission request to HDFC (to delete my wifes name), they are asking for explanation of credit transaction in the joint account post my wifes death ? Can they ask for such an explanation ? Are they not duty bound to transmit shares to my single name post my wifes death ? Are they an interested party in this? Please give reference to law / NSDL rules / SEBI guidelines
Please let me know what kind of explanation is to be given ? My wife had repaid loan to me.....