Is it a compliance issue if an AP and their employee transfer funds to each other, and both have demat accounts with IIFL?

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• Is there any issue if transaction between AP and AP’s employee regarding the loan?

  No, this is not an issue as long as the AP maintains proper records showing that the employee has been paid a salary. Maintaining these records is considered sufficient compliance.

• Can an AP hold a demat account with another broker?

  No, an AP is required to close any demat account held with another broker. This is to avoid any conflict of interest and ensure compliance with regulatory guidelines.

• How client can transfer shares from out side Demat account to IIFL Demat account?

  1.Client can send the requests of transferring shares from one Demat account to another by filling Delivery Instruction Slip (DIS). 2.Client need to submit the Delivery Instruction Slip to the respective broker from where client want to transfer the ...

• What is the process to transfer funds in Only Demat A/c?

  In case funds are to be transferred towards charges for a Only DP a/c same can be transferred in below mentioned bank a/c. However ensure funds are transferred from bank a/c which is mapped in clients DP a/c. Further at the time of enquiring for a ...

• What is the process to transfer funds in Only Demat A/c?

  In case funds are to be transferred towards charges for a Only DP a/c same can be transferred in below mentioned bank a/c. However ensure funds are transferred from bank a/c which is mapped in clients DP a/c. Further at the time of enquiring for a ...