DEMAT of physical shares

With passage of time the difference in the signature of a person is a normal occurrence. In case of physical shares, a shareholder cannot claim his shares or dematerialize his shares, if the signature in the records of company is different with the current signature of the shareholder. In such case, a shareholder needs to follow the procedure for updating his signature with company only after which he/she will be able to retrieve his/her shares from IEPF Authority.

“Change in address of the shareholder is one of the main reasons why shares/dividend of physical shareholders become unclaimed. Physical shareholders receive all the corporate actions benefits such as dividends’ cheques, bonus shares or benefits of splits in shares etc.

Now consider this, you have changed your address and you have not intimated the company about your updated address and company sent you the bonus share certificates,split share certificates and dividend warrants, but none of such benefits was recieved by you since they were undelivered and returned to company due to change in adress. And, if the dividends remain unclaimed for 7 consecutive years, the same will be transferred to Investor Education and Protection Fund (IEPF) along with your shares. Hence, a shareholder should also keep his/her address updated with companies.

If you have changed your address in past and you are holding physical shares and you feel that your shares might also be transferred to IEPF then, give us a call & let us assist you to retrieve your investments.”

“Bonus Shares are shares distributed by a company to its current shareholders as fully paid shares free of charge in a predetermined ratio. For example, if a person holds 100 shares in a company which has announced bonus shares in the ratio of 2:1 then, the shareholder of the company will receive 2 shares for every 1 share he/she is holding in the company. Hence, the new holding of a person will become 300.

Let’s understand what is split of shares with an example, company ‘A’ announces a split in the ratio of 10:1, it means the face value of shares of company ‘A’ has been reduced to INR 1/- per share from INR 10/- per share. If a shareholder was holding 10 shares earlier in Company ‘A’ of face value INR 10/- then his holding will increase from 10 shares to 100 shares of face value INR 1/-.

If you have not received these corporate benefits announced by the company whose shares you are holding or your shares have been gone to IEPF, just connect with us and our experts will insure that you receive your shares and these benefits along with your shares.”

If you are facing any of the following issues, then be assured that our experts will assist you to get your investment back in your account

Share Certificates

• Missing Share Certificates
• Mutilated share certificates
• Share Certificate still in the name of transferor

Transfer Deed

• Missing Transfer Deed
• Mutilated Transfer Deed or expired Transfer Deed
• Broker or company stamp missing on Transfer Deed
• Transferor signature Mis-Match

“Transferring of title of shares voluntarily by one party to another is known as transfer of shares.

If you want to transfer your shares to your family or any other person & you have no information about the process involved, then, just give us a call & let us assist you with the complete process. Even if your shares are transferred to IEPF Authority, The Wealth Finder will assist you to get your securities back from IEPF Authority and transfer these shares to your family.”

“The word ‘transmission’ can be defined as the transfer of title by operation of law. In case of the death of the shareholder, process of passing of ownership/title of shares to the legal heirs or the successors is called transmission of shares. If a person dies and leaves his/her Will behind, it is called as Testate Succession. However, if a deceased person didn’t leave any Will, it is termed as Intestate Succession. In case of Testate Succession, the Legal heirs have to approach the competent Courts for obtaining Probate of Will depending on the jurisdiction in which the Will has been executed and where the immovable assets are located. In case of intestate succession, a Succession Certificate has to be obtained from the jurisdiction where the deceased had his fixed place of residence.

One might feel the process of transmission overwhelming and never ending. Just connect with us & we will assist you throughout the complete process of transmission.”

The word ‘transmission’ can be defined as the transfer of title by operation of law. In case of the death of the shareholder, process of passing of ownership/title of shares to the legal heirs or the successors is called transmission of shares. If a person dies and leaves his/her Will behind, it is called as Testate Succession. However, if a deceased person didn’t leave any Will, it is termed as Intestate Succession. In case of Testate Succession, the Legal heirs have to approach the competent Courts for obtaining Probate of Will depending on the jurisdiction in which the Will has been executed and where the immovable assets are located. In case of intestate succession, a Succession Certificate has to be obtained from the jurisdiction where the deceased had his fixed place of residence.

One might feel the process of transmission overwhelming and never ending. Just connect with us & we will assist you throughout the complete process of transmission.

“Probate is a judicial process whereby the will is certified under the seal of court. According to the Succession Act in India, a Probate of Will is required for transmitting the properties of the testator.

If a person dies after leaving a Will, it is termed as Testate Succession. A probate of Will is required for the transmission of property of the deceased.

One can make a probate application only after 7 days of a testator’s death.

How would we assist you?

We will communicate with Companies/RTA to check whether Probate is actually required or the Will alone would be sufficient.

We have a network of experienced lawyers who will file an application along with the copy of Will and Proof of Death with the district Court under whose jurisdiction the deceased had his place of residence.”

If a person has died intestate i.e, when he/she dies without leaving a legal will, then in such scenario, obtaining a Succession Certificate becomes necessary for legal heirs of deceased person to claim investments of deceased family member. As per The Indian Succession Act, 1925, succession certificate is issued by the competent court to the legal heirs of a deceased to establish the authenticity of the heirs and give them the authority to inherit debts, securities and other assets of the deceased.

How we assist you
Obtaining Succession Certificate
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We will communicate with the Company or its respective RTAs regarding the shareholding as on date and prepare supporting documents.

We have a network of experienced lawyers who will make an application in the prescribed format with the competent Civil Court within that jurisdiction, where the deceased person was residing.

The lawyer will further handle the petition, court proceedings, court hearings which will be about two or three and do the needful to successfully obtain the Succession Certificate.

The Court and shall levy a fixed percentage of the value of the estate as its Court Fee.

Modification/Amendment
According to Securities Exchange Board of India (SEBI), Capital Market Regulator in India, In case of transmission of securities held in physical form, where the market value of the said securities is over Rs. 2 lakhs per company, the same can be transmitted to the legal heir only upon production of Succession Certificate.
For securities held in dematerialized form, where the market value of the beneficiary’s deceased account is over Rs.5 lakhs, the same can be transmitted to the legal heir only upon production of Succession Certificate.
But, a recent circular of IEPF Authority states that where the value of securities is 5 lakhs or more, then the claimant/s need to obtain the succession certificate for the transmission of such securities.
Where the legal heirs have already obtained the Succession Certificate but details of some securities have not been included altogether or have been included in part and the same is required to be completely included in the Succession Certificate by the Company or RTA, the Succession Certificate has to be amendment.

According to Securities Exchange Board of India (SEBI), who is the Regulator of Capital Market in India, for securities held in physical form, when the market value of the said securities in a particular Company invested by the deceased is over Rs.2 lakhs, the same can be transmitted to the legal heir only upon production of Succession Certificate.

For securities held in dematerialized form, when the market value of the beneficiary deceased account is over Rs.5 lakhs, the same can be transmitted to the legal heir only upon production of Succession Certificate.

But a recent circular of IEPF Authority states that when the value of securities is 5lakha or more than the claimant/s need the succession certificate for the transmission of such securities.

When the legal heirs have already obtained the Succession Certificate but details of some securities have not been included altogether or have been included in part and the same is required to be completely included in the Succession Certificate by the Company or RTA, the Succession Certificate has to be amendment.

The procedure for amendment is similar to that of obtaining a fresh Succession Certificate.

After the proceedings, the court will issue amended Succession Certificate with new schedule.