I had a Demat Account No.20066036 with IL & FS Securities Ltd. I have transferred all my securities and closed this account in March 2010. I personally visited their Fort Office, who confirmed that the account is closed and X However, they still continue to send me every month " Bill cum Transaction Statement".

I have several times personally visited their Fort Office and they even refunded me the credit balance to my credit, out of the funds initially deposited by me with them, for deduction of charges. Yet they continue to send their Bills every month.

I will appreciate your help in stopping this unnecessary harassment on their part.

Thank you,

D. Tata.

Demat refers to a dematerialised account.
Just as you have to open an account with a bank if you want to save your money, make cheque payments etc, you need to open a demat account if you want to buy or sell stocks. So it is just like a bank account where actual money is replaced by shares. You have to approach the DPs (remember, they are like bank branches), to open your demat account.

Let’s say your portfolio has 100 of Satyam, 200 of IBM and 120 of TCS shares. All these will show in your demat account. So you don’t have to possess any physical certificates showing that you own these shares. They are all held electronically in your account. As you buy and sell the shares, they are adjusted in your account. Just like a bank passbook or statement, the DP will provide you with periodic statements of holdings and transactions.

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