According to the CDSL circular, it is essential for the sender (transferor) to add the receiver’s (transferee’s) demat account as a beneficiary on CDSL before processing any off-market (offline) share transfers. This arrangement is in place to ensure accuracy and prevent errors in share transfers. This is a one-time activity for transferring the shares to a particular beneficiary.
Follow the below steps for adding a beneficiary on CDSL for off-market share transfer:
- Visit CDSL website
- Log in with your existing credentials. If you are not registered, create an account using the “Easi” registration process
- Navigate to “Transaction” Tab
- Click on “BO Linking”
- Select “BO Linking Setup”
- Specify whether the receiver’s account is under CDSL or NSDL and enter the receiver’s (buyer) BO ID and PAN
- Click on Submit
- An email will be sent to the sender to verify the beneficiary details for off-market transactions. Click on the link received in the email.
- Enter seller’s (transferor’s) PAN and Demat Account No (16 digit ID) and click on submit.
- Tick on the beneficiary details and click on Generate OTP. Enter the OTP and click on Accept.
- Click on OK to Agree.
- The beneficiary is added instantly, allowing for off-market share transfers using Delivery Instruction Slips (DIS). To cross check, repeat the same steps, Transaction > BO linking > Now click on “BO Linking Inquiry and Delink”. Linking status should be “VERIFIED” as shown below.
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If you want us to add the beneficiary on your behalf, plz courier us the duly filled and signed Beneficiary addition Annexure copy to the following address. Once we add, you would receive an email to confirm the addition of beneficiary request. Click on the link, process the request by entering OTP.
TradeSmart
Mangalya Complex, A-401, Marol Maroshi Road, Gamdevi, Marol, Andheri East, Mumbai, Maharashtra 400059.