Purchasing Equity shares jointly is a good form of investment. However, this is troublesome when you need to remove one of the joint shareholder’s name from the share certificate permanently.Your shares might be in physical form and one of the joint holders might have expired and this sudden demise might have shattered and confused you. At this point, the deceased shareholder’s name must be deleted from the records so that, the investments made by you and/or your joint shareholder will not go worthless. The shareholdings in the name of the deceased joint holder can be converted to your name or vice versa by deleting his/ her name from the multiple holdings. This process is called the Name Deletion.
When does this happen?
- Name Deletion is the case when one of the (Joint) Shareholders suddenly expire and the shares are in physical form i.e.; paper form.
- Or if the shares must be dematerialized and only one holder has a Demat account in a Depository Participant (DP). i.e.; if shares must be converted from Joint Holding to single holding or vice versa then, Name Deletion process is brought into use.
How is it done?
- The name of the (expired) Joint shareholder (in the case of two shareholders) who might be your parent(s)/ spouse/legal heir(s) will be removed from your share certificate.
- A maximum of 3 shareholders are accepted, so if any new shareholder’s name must be included as Joint Shareholder and / or Second joint shareholder; then that can also be brought about along with the Name Deletion service.
- For all the above process to take place we might seek your details, the deceased joint holder’s details or simply shareholder’s details whose name must be deleted, details of your share holdings and certain other specific information depending upon the RTA/ company requirement.
Be it deleting a name from the share certificates or Including a new shareholder’s name in the same certificate;Converting joint holding into single holding and make the shares electronically available; we can do this for you with a swish of the Wand! Because you have come to the Wizards who have been doing this for the past 3 years across the nation with 100 happy customers till date.
