CDSL: depository participants not to charge AMC on To be Closed demat accounts holding only illiquid, suspended or delisted securities
TaxByKK · Compliance News · taxbykk.com11 Nov 2026
In short
CDSL has told its depository participants (DPs) not to charge the annual maintenance charge (AMC) on demat accounts that are in 'To be Closed' status and hold only securities that are illiquid, suspended from trading or delisted. CDSL has put a list of such accounts, built from details received from the stock exchanges, in each DP's billing folder (file dated 10 November 2026) so that the DP can review it and stop the charge. This repeats an earlier communique of 30 September 2025.
- Authority
- Central Depository Services (India) Limited (CDSL)
- Communique
- CDSL/OPS/DP/POLCY/2026/792
- Date
- 11 November 2026
- Type
- Communique to depository participants
- Earlier communique
- CDSL/OPS/DP/POLCY/2025/661 of 30 September 2025
- Accounts covered
- Demat accounts in 'To be Closed' status holding only illiquid, suspended or delisted securities
- List location
- DP billing folder, file BLNG<DP ID>NO_AMC_ISINS_10112026.tar (absent if the DP has no such accounts)
What changed
| Item | Before | Now |
|---|---|---|
| Annual maintenance charge on 'To be Closed' accounts holding only illiquid, suspended or delisted securities | Covered by the 30 September 2025 communique | CDSL shares the list of such accounts with each DP and tells it again not to charge the AMC, subject to the circumstances in the 2025 communique |
The communique does not repeat the conditions of the 30 September 2025 communique, does not say which charging period is affected and does not mention refunds of AMC already charged.
Who it applies to
- Depository participants (brokers and banks) of CDSL
- Investors holding only illiquid, suspended or delisted shares in a demat account marked To be Closed
- CAs and company secretaries advising investors and DPs
What to do
- DPs should download the list from the billing folder and check each account against the 2025 communique before billing.
- Investors can check their account's AMC with their DP if the account holds only such securities.
Reference
CDSL Communique No. CDSL/OPS/DP/POLCY/2026/792 dated 11 November 2026, Non-charging of AMC in demat accounts consisting of illiquid, suspended or delisted securities.
Read the official PDF: CDSL communique 11 Nov 2026Written by TaxByKK from the official notification. Check the official text before you act on it.
Frequently asked questions
Which accounts does this cover?
Demat accounts in 'To be Closed' status that hold only securities that are illiquid, suspended from trading or delisted, as shown by details from the stock exchanges.
Where is the list?
In each DP's billing folder, in a file dated 10 November 2026. If a DP has no such accounts the file is not there.
Does the communique say anything about refunds?
No.