By Saksham Arora Closing your Demat and trading account with Sharekhan is mostly a paper-based process. Unlike newer brokers, Sharekhan still prefers a physical form with a proper signature to permanently deactivate your account.
It may feel slightly old-school, but it’s done for security. Once you understand the steps, the process is quite straightforward.
Why People Close Their Sharekhan Demat Account
Here are the common reasons:
- You’re no longer trading or investing
- You want to switch to a low-cost broker
- You have multiple Demat accounts
- You want to avoid AMC charges
Mandatory Pre-Closure Checklist
Before applying, your account must be fully cleared. This is the most important step.
1. Empty Your Holdings
- Sell all shares or
- Transfer them to another Demat account
Even a small holding can lead to rejection.
2. Clear All Outstanding Dues
Ensure:
- No negative balance
- No pending AMC or charges
3. Close All Open Positions
Make sure:
- No F&O trades
- No SIPs
- No pending orders
4. Return Unused DIS Booklet
If you have a Delivery Instruction Slip (DIS) booklet:
- Submit unused slips along with the form
Step-by-Step Process to Close Sharekhan Demat Account
Step 1: Get the Closure Form
You can get the Account Closure Request Form (ACRF) in two ways:
Option A: Download Online
- Visit Sharekhan website
- Download CDSL/NSDL closure form
Option B: Visit a Branch
- Go to nearest Sharekhan branch
- Collect a physical form
Step 2: Fill in the Details
Provide accurate details:
- DP ID & Client ID (16-digit number)
- Trading ID (UCC)
- Name and contact details
- Reason for closure
Step 3: Signature Verification
- Signature must match company records
- Joint accounts → all holders must sign
Mismatch is a common reason for rejection.
Step 4: Transfer Shares (If Needed)
If you don’t want to sell your shares:
- Select “Transfer to another account”
- Provide Target DP ID & Client ID
- Attach Client Master Report (CML)
Step 5: Submit the Form
You have two options:
Option 1: Submit at Branch (Recommended)
- Visit nearest Sharekhan branch
- Submit the form
Ask for an Acknowledgement Receipt (very important)
Option 2: Send via Courier
If you can’t visit a branch, send it to:
Sharekhan Limited
10th Floor, Gigaplex Building No. 9
Raheja Mindspace
Airoli, Navi Mumbai
Maharashtra – 400708
Include unused DIS slips if applicable.
Step 6: Verification Process
Sharekhan will:
- Verify your details
- Check holdings and dues
- Process your closure request
Step 7: Confirmation
- You’ll receive a confirmation email or letter
- Your account will be officially closed
Timeline for Closure
- Initial processing: 2–3 working days
- Final closure: 7–10 working days
- Confirmation letter/email: within 15 days
Important Points to Remember
No Closure Charges
- Sharekhan does not charge any fee for account closure
Remove Freeze or Lien
If your account is:
- Frozen
- Under lien
You must remove these restrictions before closure
Save Your Records
Before closing:
- Download statements
- Save transaction history
Common Mistakes to Avoid
These are very common:
- Leaving small share balance
- Not clearing dues
- Signature mismatch
- Not returning DIS booklet
- Wrong DP ID
Avoid these to ensure smooth closure.
What Happens After Closure?
Once your account is closed:
- You cannot log in
- Your Demat becomes inactive
- No AMC charges will apply
- You’ll receive official confirmation
Final Thoughts
Closing a Sharekhan Demat account may take a bit more effort compared to app-based brokers, but it’s not complicated. It just requires a little attention to detail.
If you prepare properly—clear your holdings, settle dues, and submit the correct form—the process works smoothly without delays.
Take it step by step, and you’ll have your account closed without any trouble.