Monday, July 12, 2010

Do you have a Demat Account?

From the Times Of India today:

Can Hindu deities have demat accounts to enable them transact in shares and debentures on the stock market?

The Bombay High Court will decide the issue after a religious trust filed a petition challenging the decision of National Securities Depository Ltd (NSDL) to refuse it permission for opening demat accounts in the names of five Hindu deities.

"When the Income Tax department has issued PAN cards to these five deities why should NSDL not allow opening of demat accounts in their names?" the trust has asked in the petition, which is likely to come up for hearing later this week.

The deities of the Sangli-based trust "Ganpati Panchayatam Sansthan" are Lord Ganesh, Chintamaneshwardev, Chintamaneshwaridevi, Suryanarayandev and Laxminarayandev.

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