SEBI clarification on Opening of demat account in case of HUF

The Securities Exchange Board of India vide circular dated February 17, 2022 has issued Corrigendum to Master Circular for Depositories dated February 05, 2021 on Opening of demat account in case of HUF. The circular clarifies that the event of death of Karta of HUF, the name of the deceased Karta in the Beneficial Owner (BO) account shall be replaced by the new Karta appointed by the member of the HUF who in such a case shall be senior most member of the family.

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