The National Securities Depository Limited (NSDL) on November 17, 2025, issued a circular regarding the Additional disclosures to Joint Demat account holders.
SEBI, through a letter dated September 25, 2025, has directed the inclusion of a new clause in Annexure K of NSDL’s Business Rules within the Rights and Obligations document.
New Clause on Freezing of Joint Demat Accounts
• If a statutory order freezes any one joint holder, the entire demat account will be frozen.
• Other joint holders can only unfreeze their respective ownership shares by obtaining a specific order from the issuing authority, supported by relevant documentation.
Compliance Requirements for Participants
• The clause must be incorporated under the "Freezing/Defreezing of accounts" section in the Rights and Obligations of the Beneficial Owner.
• The revised document must be obtained from clients at the time of opening new demat accounts.
• NSDL will issue further amendments to Annexure K separately.
Participants are advised to comply accordingly.
[Circular No.: NSDL/POLICY/2025/0152]
