How can I transfer shares from my Kotak Securities demat account to another demat account offline?
You can transfer shares from your Kotak Securities account to another NSDL/CDSL demat account by submitting the DIS (depository instruction slip) to our office.
Once your DIS is received, we will commence the transfer process. The Depository (NSDL/CDSL) will send a link to your registered email ID and mobile number. You will also be sent an OTP. To complete the transfer, you will need to provide the OTP on the link that is sent by the NSDL/CDSL before 9pm on the executed date.
Note:
Please note that you are required to submit a request to KSL in attached format (NSDL form) (CDSL form) in order to add a beneficiary to your demat account for the purpose of off market transfer. Upon submitting the request, KSL shall submit the information to your Depository. The Depository shall thereafter send you a link on registered email and mobile number and you are required to authenticate it via OTP. Only post completing these steps your beneficiary will be recorded in the Depository. Kindly note that any off market transfer shall not be processed unless the beneficiary is added by you. You may read the circulars here (NSDL circular) (CDSL circular).
- When a direct transfer is made from one demat account to another, it is known as an off-market transfer. There are different reasons why investors would want to make an off-market transfer.
The table below is the List of Reason Codes for off Market /Inter Depository Instructions
| Reason Code | Reason/purpose |
|---|---|
1 | Off - market Sale |
2 | Margin to stock broker /PCM |
3 | Margin returned by stock-broker/PCM |
4 | Transfer to own account |
12 | Buy -back |
13 | Open Offer for Acquistion |
14 | Redemption of Mutual Fund Units |
15 | Transposition- between joint account of same holders |
16 | Merger /Demerger of corporate entity |
17 | Dissolution/Restructuring /Winding up of Partnership Firm Trust |
18 | Conversion of Depository Receipt(DR) to underlying securities and vice versa |
19 | Trust to Beneficiaries /On HUF dissolution to Karta& Coparceners |
20 | Certificate of Deposit Redemption |
22 | Commercial Paper Issuance |
88 | Transfer Between Minor Account and Gaurdian Account |
89 | Transfer beween Specified family members |
Sub -Code of 89 | 01-- Spouse |
02-- Father (including step father) | |
03-- Mother (including step mother) | |
04-- Son (including step son) | |
05-- Sons wife | |
06-- Daughter | |
07-- Daughter husband | |
08-- Brother (including step brother) | |
09-- Sister(including step sister) | |
10-- Member of same HUF | |
90 | Transfer between Partner and Firm, or Director and Company |
91 | Payout - On payment for unpaid securities |
92 | Gift |
93 | Donation |
94 | Refund of securities by IEPF Authority |
95 | ESOP/Transfer to employee |
96 | Implementation of Govt . /Regulatory Direction /Orders |
97 | Errorneous Transfer pertaining to Client Securites |
98 | Meeting Legitimate Dues of Stock Broker |
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If you want to make an off-market sale, you have to fill out the Annexure for DIS and send it along with your DIS. It is compulsory to fill the payment details.
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For an off-market sale, stamp duty is applicable.
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Off-market, transfer charges will be applicable according to the agreed DP bill tariff.
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Shares/Mutual Funds holdings that are in free units can be transferred through this process.
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Shares/Mutual Funds holdings that are under lock-in can’t be transferred using this process.
For the latest reason codes of CDSL, you may refer to the circular by clicking here. Also, clients are requested to keep themselves updated about the reason codes of the Depositories as may be amended from time to time, through the circulars issued on the website of the Depositories.