Guide to Transfer Shares from one Demat Account to another

DIS slip (Delivery Instruction Slip) need to submit for transfer of shares from one broker to another. The first step to this process is to check whether your Demat account and another Demat account's Depository Participant is CDSL or NSDL?

Inter Depository Slip (Inter DIS) is needed when you have your Demat account linked with different depositories. In case the Demat account is with the same depositories then you need INTRA Depository Slip (Intra DIS).

Here is the process to transfer shares from one Demat account to another.

• Once you identify the correct DIS, fill the relevant info like scrip name, INE number, quantity in words and figures, and submit that DIS along with the CMR copy of DP where you want to transfer your share with the transferor broker with signatures. The transferor broker shall accept that DIS in duplicate and acknowledge receipt of DIS on a duplicate copy.
• Please try to submit that DIS when the market is on to avoid mismatch in the submission of DIS and date of execution of DIS although a difference of one day is also acceptable. For the execution of the transfer, the Transferor broker would charge you some charges.
• So for example, if are transferring shares from ICICI Direct to Upstox, you need to fill up the DIS slip of ICICI Direct and submit it to them. The process usually takes anywhere between 2-4 days from the submission of the slip. You just need to submit the CMR copy of Upstox or in some case just the DP number of Upstox.
• Closure and transfer: In case you want to close the other Demat and transfer the shares to Upstox, you need to submit a CMR copy (Client Master Report). So if you are closing the ICICI Direct account and transferring the share to Upstox, you need to submit the CMR copy of Upstox to ICICI Direct. Note: Hard copy of the CMR to be submitted.

If you are transferring from Upstox to a different broker: In this case, you need to submit the DIS slip of Upstox to them and the shares will be transferred.

The DIS book is similar to a cheque book and it needs to be handled with the same care as a cheque book. Accordingly, you will always store the DIS book in a safe place in your custody and not hand over signed blank DIS to anybody.

Physical certificates: if you have physical shares or debentures certificate and wanted to transfer to your name then you need to forward the following documents to RSTA (registrar and share transfer agent) of the company.

• Original certificate(s)
• Properly filled Share Transfer Form(s) with a valid stamp
• Copy of PAN card
• By signing the transfer deeds you can sale securities which are in physical mode to buyer.

Timeline for transfer: Listed companies are required to transfer shares or send the objection memo within 15 days from the date of lodgement for transfer deeds, original certificates, and all other required documents. In the case of debentures/bonds, the company is required to affect the transfer within two months from the date of lodgement for transfer deeds, original certificates, and all other required documents.

Compensation in case of delay: You can claim interest from the company if they delay the transfer of shares beyond the 30days period. To claim the same you can file for arbitration at the stock exchange where company’s shares are listed.