I hold physical share certificates of Rs 10 each. The said company split into shares of Rs 1 each, but the new shares did not reach me. To Demat, I need the split shares and when asked for procedure, the company asks for: 1. Indemnity Bond 2. Two (2) sureties / guarantors plus their IT returns etc. 3. Demand Draft for Rs 1000/- for issuing advertisement in Newspaper Whereas it is a simple matter of exchanging old share certificates, with new ones. Why they are treating it as Issuing Duplicate Certificates? Why should I suffer for postal error?
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I am not sure what duplicate share you are talking about as nowadays shares in physical form is stopped and only the materialised shares through online is allocated or sent.
So ask from them Demat shares which would not attract compliance of such formalities nor there is any scope for cost towards advertisement.
The company must have dispatched split shares
2) request company to furnish proof of receipt of split shares in their possession
3) company would insist on indemnity bond because it apprehended you may received said shares and have sold them
4) furnish documents sought by company
i agree with your view in this matter but try to realize the matter. there is no doubt that you are holding the original old share certificates and you have not received the new certificates. but how it will be possible to know by the company that you have not received it due to postal error. that's why for the sake of brevity and avoiding future complication company is asking the said documents treating the situation as issuing of duplicate certificate.
shares in physical form is stopped and only the dematerialised shares are issued by companies in your demate account
you have not received the new certificates but how it will be possible to know by the company that you have not received it due to postal error. that's why for avoiding future complication company is asking for this procedure
1) If you have share certificate numbers against same number you may have alloted split shares of Re.1 in their records.
You kindly make application to Secretary or Investors Relation Manager which is mentioned at every conmpany's website.
And get transferred your share in Demat account.
How does one get a Succession Certificate for transferring shares? I am from Delhi and sister in Mumbai. Will she need to come to Delhi for signing in front of a Magistrate? Also, at the same time can she relinquish her rights to me, so that I can be the sole beneficiary? My father expired without a will. What documents would be needed from both of us?
You have to file petition in HC for issue of succession certificate in Delhi
2) sister has to come to court for signing the petition
3) it takes around 6 months
4) she can execute consent affidavit relinquishing her share in the shares
file petition in HighCourt for issue of succession certificate
Yes,sister has to come to court for signing the petition , it takes around 6 months
yes,she can execute consent affidavit relinquishing her share
Dear client,
1.You have to file petition in HC for issue of succession certificate in Delhi
2. sister has to come to court for signing the petition
3. it takes around 6 months
4. she can execute consent affidavit relinquishing her share in the shares
1. They should usually transfer the same without requiring such documents.
2. but the company in order to make sure that there is no illegality, usually follows such procedure.
Regards
Hello,
The same is filed in the court in whose jurisdiction your father used to live or where he passed away.
Yes she can relinquish the rights in your favor, but for that also she will have to appear before the court.
Death certificate, family chart, NOC from all the legal heirs, publication in newspaper will be required to obtain the same.
Regards
You can issue a legal notice to the company stating that you never received the share certificate after the original shares after it was split.
Let them give a reply intimating that they have dispatched it and give the details.
You can contact SEBI, for relief and remedy with the complaint against the company.
If this shares belonged to your father then you can follow the instructions the company has guided you as stated in your previous post.
For succession certificate you may to apply for it is appropriate court within whose jurisdiction your father is reported to have died.
Your sister can be a co-petitioner.
Once you get the succession certificate she can give NOC in your favor which will enable you to claim the entire money.