I want to close my demat account but 20 shares of Kingfisher Airlines are not selling. Please guide me.
Answer by Harshad Chetanwala, co founder, MyWealthGrowth.com
The balance of your demat account should be ‘nil’ if you want to close it. Kingfisher Airlines was delisted by NSE in 2018 and you will not be able to sell these shares at present and in future. The easiest way to take care of this issue is to transfer these shares in the demat account of your family member or relative or friend who plan to use demat account for their regular investments. Practically, these shares have become worthless for you, hence transferring it to their demat account should not be a problem. If you do not have any other holdings in your demat account except these shares then your demat account is a basic services demat account (BSDA) and no annual maintenance charges should be levied for your demat account till the time you close it.
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