sebi:WTM/RKA/ISD/111/2016
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Facts / Headnote
Allowed - Mrs. Ruchi Maheshwari permitted to transfer securities from joint demat account 10823445 to an account exclusively held by her in her individual name.
Holding
The Whole Time Member allowed Mrs. Ruchi Maheshwari to transfer the securities held in demat account number 10823445, held jointly with Mr. Anuj Maheshwari, to another demat account exclusively held by her in her individual name.
Full text
Order in respect of Mr. Anuj Maheshwari Page 2 of 2 d) Mrs Ruchi Maheshwari is holding 800 shares of Jindal Saw Ltd., 50 shares of Punjab and Sind Bank Ltd., 25 shares of Reliance Power Ltd. and 4 non-convertible debentures of IDFC Bank Ltd. in the aforesaid demat account. The total value of the securities, as on August 22, 2016, is `63,515/- (as confirmed by NSDL). e) She has disclosed the aforesaid securities in her Balance Sheet as on March 31, 2015 and March 31, 2016. f) She has also disclosed a gross total income of `7,70,430/-, `7,54,728/-, `7,73,372/-, `6,50,075/- and `6,86,540/- in her Income Tax Returns for the Assessment Years 2012-13, 2013-14, 2014-15, 2015-16 and 2016-17, respectively.
6. From the above, it is prima facie observed that the securities held in the demat account number 10823445 belongs to Mrs. Ruchi Maheshwari.
7. Considering the aforesaid submissions and evidences brought on record, I am of the view that the balance of convenience is in favour of Mrs. Ruchi Maheshwari. Accordingly, I allow Mrs. Ruchi Maheshwari to transfer the securities from the demat account number 10823445 held jointly with Mr. Anuj Maheshwari to another demat account exclusively held by Mrs. Ruchi Maheshwari in her individual name.
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Source: SecMarx — sebi:WTM/RKA/ISD/111/2016. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.