Why Have I Received a Communication About Multiple Demat Accounts Linked to My Details?

Why Have I Received a Communication About Multiple Demat Accounts Linked to My Details?

If you received a message from FYERS about multiple Demat accounts linked to your PAN, mobile number, or email, it means CDSL (Central Depository Services Limited) found shared personal details across accounts held with one or more brokers. This is a routine regulatory check to ensure your identity-linked data is valid and not misused.

Although you’re allowed to have more than one Demat account, SEBI and CDSL require a valid reason when personal or contact details are repeated across accounts. FYERS is required to reach out for clarification in such cases.

What You Should Do

To avoid restrictions on your Demat account, reply to the FYERS communication or email [email protected] using your registered email ID. You can either:

  • Reply directly to the email you received, or
  • Send a new email with the following details:
    • The reason for holding multiple Demat accounts (e.g., for family, business, or personal use)
    • Names of the other brokers/Depository Participants where your accounts are held
    • Any supporting information or documentation (if relevant)

What Happens If You Don’t Respond

  • If your account has holdings: It may be frozen for debit transactions (you won’t be able to sell or transfer shares).
  • If your account has no holdings: It may be closed based on CDSL’s instructions.

What If...

ScenarioExplanation
I have valid reasons for multiple accountsJust email FYERS with your reason—this is acceptable.
I share a mobile or email with familyClarify this via email. Each person must still have a separate PAN.
I stopped using one of the accountsYou may request its closure to avoid future compliance checks.
I missed the deadlineYour account may be frozen or closed by CDSL.
I need help replyingContact FYERS support for assistance.
Tip: You can review all Demat accounts linked to your PAN using the CDSL Easi/Easiest portal or check the “My Account” section in FYERS.
Important: This message is part of a standard compliance review. It doesn’t mean anything is wrong with your account, but a response is necessary to avoid disruption.

Last updated: 10 Oct 2025