Income tax department will recommend de-freezing of about 100 demat accounts

The income tax department will recommend de-freezing of about 100 demat accounts after it found the claims of a few individuals in the frozen accounts to be genuine. The department has been probing more than 6,300 frozen demat accounts, which had Rs 6,700 crore of unclaimed stocks.
Some claims on these accounts have been found to be genuine by the Income Tax (I-T) department. They will be recommended for de-freezing to the two depositories– National Securities Depository Ltd (NSDL) and Central Securities Depository Services Ltd (CDSL)– who froze them in January 2007, after legal formalities, official sources said.

Sources said the number of such accounts could be 100 as the exact amount of money in these accounts is being ascertained.