Process of delivering the demat units in ICCL's Pool account

The process for redemption of demat units involves the delivery of the redeemed units in the demat account of ICCL on the day of placing the order. For this the client holding units in either of the depositories need to follow the below mentioned process:

• Clients holding their account in CDSL are required to provide a Delivery Instruction Slip (DIS) from their registered demat account, to their DP to initiate an On Market, delivery, with the Market type 15 (111015) followed by the settlement number corresponding to today's date, The ISIN which has been redeemed and the quantity as per the transaction placed on BSE StAR MF platform. It may be clarified here that the quantity mentioned in the DIS should exactly match with that of quantity mentioned in the transaction on the platform till the last decimal. The clients should not club the quantity placed in two different orders in the same ISIN from the same account.
  
  
• Clients holding their account in NSDL are required to provide a Delivery Instruction Slip from their registered demat account, to their DP to initiate an On Market instruction, to transfer the ISIN and quantity for which redemption order has been placed on the StAR MF platform so as to transfer them to the following pool account of ICCL:
  
  

  CMBP-ID IN620031 CM Name Indian Clearing Corporation Ltd. Market Type Mutual Fund - R Settlement No. As applicable

It may be noted that the quantity mentioned in the DIS should exactly match with that of quantity mentioned in the transaction on the StAR MF platform till the last decimal. The clients should not club the quantity placed in two different orders in the same ISIN from the same account.

Settlement of Redemption transactions placed by MFI

The settlement of funds for the redemption, in demat and non-demat transactions of a client of an MFI is completed in the settlement bank account of the MFI by ICCL on the TAT day of the scheme in which the redemption has been placed for the client.

Settlement of Redemption transactions placed by MFD

The settlement of funds for demat redemption transaction of a client of an MFD is completed in the default bank account of the client on the TAT day of the scheme in which redemption has been placed.

The redemption proceeds for non-demat transaction is credited in the Investor's bank account by the funding unit of the AMC on the TAT day of the scheme in which the redemption transaction has been placed.