We are at your service. Shares in physical form may require our services in more than one form. We are talking about share certificates printed in the previous millennium
Transfer of shares
If you have physical shares you require to transfer it due to certain reasons. In our experience we see this problem with techies who have migrated outside the country.
Transmission of shares
This is a different animal. Most complicated, most painful and most of the money is lost here. These are typical cases when the owner of the shares dies and the legal heirs have to get it transmitted in their favour.
Duplicate shares
Shares in physical format are in the last millinium. Youngest paper share is at least 20 years old. The earliest share that we have seen was issued in 1956.
Name Deletion
Sometimes shares are obtained in joint names. If one of the shareholder dies the shares will have to be transmitted to the surviving shareholder.
Name Change
Sometimes name of the shareholder is changed completely ot due to change in marital status. In these situations name in the share certificate will have to be changed to the present name.
Address Change
This happens all the time for various reasons. This can be easily rectified.
Demat of shares
There is no bar in holding share in physical form. However if the shares have to be traded in the stock market, they have to be demated first.
Probate
If a will has been made by a original shareholder, by law, the will has to be probated if the will is made n any one of the 4 metros. Even if the will is made out side metros, some companies insist on probate
Succession Certificate
A person is said to have died intestate when he/she does not leave behind a legal will. Such is the scenario when the requirement of obtaining a Succession Certificate jumps in.
Investors Education and Production Fund Authority (IEPF)
- Till the year 2017 all unpaid and unclaimed dividends that have not been encashed for the past 7 years from the dividend declaration date may be transferred to a separate account maintained by IEPF.
- Effective Sept. 2017 it is not just an Unclaimed Dividend, all the shares on which dividends have not been claimed for seven years are treated as unclaimed shares i.e., if dividend is not encashed for a continuous period of 7 years, then the shares on which such dividends remain unclaimed will also be transferred to IEPF A/c.
