Master Circular on 'Account Opening' - Version 1 - NSDL

(d) In case of amalgamation/ scheme of arrangement of other corporateentities, Participants are requested to close the existing account andopen new account by following the prevailing process, as at present.2.6.3 The change of name for a Corporate account can be carried out in the DPMSystem through Client Modification Module - Primary and Address DetailsModification.2.6.4 While carrying out the modifications, the name of any existing account holderof an account can neither be deleted nor any new name can be added.Participants can only make changes to the name(s) of existing accountholder(s) of the account.2.6.5 When the instruction is captured and verify/released, the DPM System willflash:a) an alert message on the screen as to whether the Participant wishes tomake changes to the PAN, email ID, mobile number etc. of theaccount holder. Participants may ignore such message if there are nochanges to be carried out with respect to the aforesaid details.b) a warning message on the screen to re-capture the signatures of theauthorized signatories. Participants may ignore such message ifParticipants have already re-captured the signatures of the authorizedsignatories or there is no change to the authorized signatories.2.6.6 The Client Name Audit Report in the DPM System will display the old as wellas new name of the Corporate.Note :1. Name change to the Corporate account can be carried out only through thefront end application of the DPM System.2. The pledge details in the DPM System of the Participant of the pledgee willcontinue to reflect the old name of the Corporate, if the Corporate is thepledgor.3. Subsequent to name change, the Transaction Statement (SOT) report willreflect the new name of the Corporate for the SOT generated for the past dates51