Transfer of Shares

If you hold physical securities in listed companies, you can’t transfer them by way of sale on the stock exchange or an off-market transaction between the buyers and sellers, with effect from 1 April 2019. The initial deadline set by the Securities and Exchange Board of India was set at 5 December 2018, which was extended to 31 March 2019

Securities held in physical or paper form after April 1 2019 is illiquid. This means that you will no longer be able to sell or transact without first dematerializing them. However, it does not take away the validity of the securities or the rights and benefits under them.

Transmission of Shares

Yes. Work is Easier is such cases compared to Without Nominee Cases. You Can Contact our team in this regards and they will Guide you over this

As per law, the joint holder is deemed to be having indivisible ownership of the joint property and the Company cannot ascertain as to how or why the name was included. As per the Articles of Association of the Company, the surviving joint holders are the only persons recognized as having title to the shares.

You will appreciate that in order to ascertain that the will in question is the last will and testament made by the deceased, it is important that the same is authenticated/probated by the Court. This is to protect the interest of the investors at large and to obviate any future claims/disputes on the same.

The legal heirs will have to get the will probated by the High Court/District Court of competent jurisdiction and then send a copy of the probated copy of the will, along with relevant Documents You Can Contact our team in this regards and they will Guide you over this

Dividends

IEPF form-5 along with Required Documents to be sent to Nodal officer of company. You Can Contact our team in this regards and they will Guide you over this

You may write to our RTA furnishing the particulars of the dividend not received. The signature of the shareholders should match with specimen signature as per in the records of the RTA. Also quote your folio number/client ID particulars (in case of dematted shares). The RTA will check the records and issue a duplicate dividend warrant if the dividend remains unpaid in the records of the Company and is not transferred to the Investor Education and Protection Fund.

Loss of Share Certificates

Change in Address/ Status/ Name

You Can Contact our team in this regards and they will Guide you over this.

In the event, your residential status has changed to that of a non-resident and sale proceeds of the Shares or dividend payment is sought to be repatriated outside India, please obtain prior permission from the Reserve Bank of India through your banker in India (Authorised Dealer) and submit to the Company.

Where the sale proceeds and/ or dividend payment is not sought to be repatriated, a duly completed Form of Undertaking would be required to be submitted to the Company.

Since your Depository Participant maintains the records of your dematted shares, you have to approach your DP to effect any change in your address.

No. There can be only one registered address for one folio.

Kindly send a request letter quoting the folio number signed by the registered holders' as per their specimen signature registered in the records of our RTA stating the new as well as the old address.

IEPF (Investor Education and Protection Fund)

Rule 6(3) (b) of the IEPF Rules provides that in case there is a specific order of Court or Tribunal or statutory Authority restraining any transfer of such shares and payment of dividend, the Company shall not transfer such shares to the IEPF. Hence, in the present case, as the Court had directed a stay order on the stated 40 shares, such shares shall not be liable for transfer a IEPF. However, the remaining 60 shares shall be transferred to the IEPF.

The transfer of shares can be given effect only if a share transfer’s deed is duly executed by the concerned parties which will be required to submit with the Company by providing all the supporting papers for verification by the Company. The transfer deed may be submitted either by Mr. X or Mr. Y. Post registration of the transfer of shares by the Company, the application in e-Form IEPF-5 shall be made by the transferee i.e. Mr. Y by following the procedure mentioned earlier.

IEPF Second Amendment Rules, 2017 provide for a time period of 90 days from the date of communication to submit rectified documents to the IEPF Authority. Further, IEPF Authority may reject the Form after providing an opportunity to him to furnish response within a period of 30 days.

In case, the IEPF Authority do not receive all the documents from the claimant within 90 days from the filing of IEPF-5, then the IEPF Authority may reject the Form after providing an opportunity to him to furnish response within a period of 30 days.

The qualifying condition for transferring the shares to IEPF in the said case is the continuous failure on the part of the shareholder to claim dividend for seven consecutive years irrespective of the fact of the company that whether the company is declaring dividend or not in each of the seven years. Accordingly, the shares will be transferred to the IEPF demat account since the dividend on such shares, irrespective of when it has been declared, has remained unpaid

In such an event where the shares have been transferred to the IEPF, the dividend for the FY 2009-10 till 2014-15 will still be lying in the unpaid dividend account. This means that a shareholder can claim dividend for the aforesaid period from the Company. But considering the fact that the shares for the said dividend has already been transferred to IEPF, and that as on date the shares are held by the IEPF, it will be very illogical to say that a shareholder who as on date does not even hold the shares, but can claim the dividend for the same.

Since the completion of transmission process is a pre-requisite for making claim, therefore companies as well as the depository participant, as the case may be, shall on the receipt of all required documents from such legal heirs or successor or administrator or nominee of the shareholder verify and confirm that the transmission process is completed. You Can Contact our team in this regards and they will Guide you over this.

Any person whose shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares etc. has been transferred to the IEPF Fund, may claim the shares under provision to sub-section (6) of section 124 or apply for refund, under clause (a) of sub-section (3) of section 125 or under proviso to sub-section (3) of section 125, as the case may be, to the Authority by making an application in Form IEPF 5 online available on website.

No, IEPF cannot re-transfer the shares which have been credited in its Fund, unless any rightful owner makes an application in the prescribed form to get it re-transferred

The transfer of shares to IEPF is a temporary suspension of property rights. Looking at the IEPF it seems it is the custodian of the shares because there is a provision for the shareholders to claim it back. Therefore, it cannot be said that the shareholder ceases to be the owner.

Mr. A has not claimed dividend for FY 2008-2009, however he claimed dividend for FY 2009-2010. In the instant case the dividend that remains unpaid for FY 2008-2009 shall be transferred to IEPF on expiry of seven years, i.e. FY 2015-16. However, the underlying shares cannot be transferred in FY 15-16 since Mr. A has claimed dividend on such shares for the FY 2009-10. The shares will only be transferred in case there is a failure of consecutive seven years in payment of dividend In the present case, the underlying shares will only get transferred to IEPF in the FY 2017-18 provided Mr. A has not encased any dividend on such shares from FY 2010-11 and onwards.