Upon repayment of loan, pledgor should submit a duly filled in ‘Pledge Closure Initiation Slip’ to Axis Securities Ltd. Once executed, the information is forwarded to DP of the pledgee. The pledgee then may submit ‘Pledge Closure Confirmation Instruction’ to its DP. (Alternatively, the pledgee may give instruction to its DP to close the pledge without waiting for request from the pledgor). Once pledge is closed, the block created on the underlying securities is removed and they become available once again for disposal by the erstwhile pledgor.