How to liquidate

#1
I'm a student. I'm quite inexperienced at trading and stock market. A couple of months ago I invested Rs.10000/- in Reliance and Unitech. I gave my broker(Brother of a friend who used to work with India Infoline) a cheque and he bought stock for me. Now I'm in dire need of money and I don't know how to liquidate my position.
My broker is dead so I can't ask him to liquidate it. I'm in rural area so to go to city for this work will be hectic. And if I use India Infoline software then money from proceeds will be saved in my trading and demat account for further trading. But I don't want to trade any more I want my money back in my bank account please do tell me how to get it.
Please do explain to me how to transfer money from trading account to bank account
Bank account : State Bank of India
Trading account : India Infoline
Demat account :NSDL
 

bunny

Well-Known Member
#2
India Infoline must have sent you some "welcome" documents. Amongst these you will find your trading account ID and customer care no. Call the customer care and if possible, place order to sell these the shares at earliest. You will receive cash balance in your trading account after 2 or 3 days. You may need to again call up the customer care to pay-out or transfer the money from your trading account ledger to your savings bank account.

You can call your customer care no for exact directions.
 
#4
Hello Freind,
In actual in your situation is that you are holding the shares of Reliance and Unitech through your broker Infoline. If you want you can sell your holding shares of Relaince and unitech online through your broker by using your Customer Id and loging into your trading account but firstly you have to call the Infoline company that whether your account is enable or disable if its enable( only if you are trading within 6 months of the last transaction) than you can sell these shares and that shares and will convert it into cash and transfer to your trading account on the next day you can request for payout and the amount will automatically transferred into your linked bank account with your trading account.
* If your account is disable ( means not trading from last six months) than you can simply mail your broker for enabling your account again for selling of your holding shares.
 

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