Change Name in Share Certificate in Aizawl can be done Aizawl. If you want to change name in share certificate read this article carefully.
A share certificate is an important document that acts as evidence of ownership of a specific number of shares in a company. This guide will provide a step-by-step procedure for changing the name in a share certificate in Aizawl, along with the required documents and the benefits of doing so.
Reason for Change Name in Share Certificate in Aizawl:
Change in marital status: In case of marriage or divorce, an individual may want to change their name on the share certificate to reflect their new legal name.
Personal preference: An individual may want to change their name on the share certificate due to personal preference, such as adopting a name that they find more appealing or meaningful.
Spelling errors: Sometimes, the name on the share certificate may contain spelling errors or incorrect information, which may need to be rectified through a name change.
Change of religion: In some cases, an individual may change their name after converting to a new religion, and they may want to reflect this change in their share certificate.
Change of gender: In case of a gender transition, an individual may want to change their name on the share certificate to reflect their new gender identity.
Document Required for Change Name in Share Certificate in Aizawl:
To change a name on a share certificate, several documents are required, and these may vary depending on the reason for the name change and the state in which the individual resides.
Legal affidavit: A legal affidavit is a sworn statement made by the individual whose name is being changed. It contains details such as the current name of the individual, the new name they wish to adopt, and the reason for the name change.
Original share certificate: The original share certificate issued by the company needs to be submitted to initiate the process of a name change.
Gazette Notification: The Gazette Notification serves as proof of the change name.
Identity proof: The individual needs to provide valid identity proof.
Address proof: The individual also needs to provide valid address proof.
Marriage certificate: In case of a change name due to marriage, a marriage certificate needs to be submitted as proof of the name change.
Divorce decree: In case of a change name due to divorce, a divorce decree needs to be submitted as proof of the name change.
Gender change certificate: In case of a gender transition, a gender change certificate needs to be submitted as proof of the name change.
It is important to ensure that all the documents are in order and that they meet the requirements laid down by the government.
What is Share Certificate?
A share certificate is an important legal document that acts as evidence of ownership of shares in a company. It is issued by the company to the shareholder as proof of their ownership of a specific number of shares.
The share certificate serves as proof of ownership and is required during several transactions such as the sale of shares, transfer of shares, or redemption of shares. It is also required while applying for loans, opening a bank account, or during any other financial transaction.
Share certificates are issued in physical or electronic form. In the physical form, the share certificate is a printed document that is signed by the authorized signatory of the company and has a unique identification number. In the electronic form, the share certificate is stored in a dematerialized or digital form in a Depository Participant (DP) account.
It is essential to keep the share certificate in a safe place as it is a valuable legal document. In case of loss or damage to the share certificate, the shareholder must inform the company immediately to get a duplicate share certificate issued.
Procedure to Change Name in Share Certificate:
The procedure for changing the name in a share certificate in Aizawl is as follows:
Step 1: Obtain an application for name change from the registrar of the company in which you hold shares.
Step 2: Make an affidavit for name change on a stamp paper of Rs. 100. The affidavit should contain details such as the old name, the new name, reason for the name change, and a declaration stating that the new name is not for any fraudulent purpose.
Step 3: Publish a Gazette Notification or a newspaper publication announcing the name change. This is required to inform the public about the name change.
Step 4: Submit the following documents to the registrar of the company:
- Original share certificate(s)
- Application for name change
- Affidavit for name change
- Copy of the gazette notification or newspaper publication
- Copy of PAN card
- Copy of Aadhar card
- Copy of address proof
Step 5: Pay the required fee for the name change.
Step 6: Once the registrar verifies the documents, they will issue a new share certificate with the updated name
Why Stamp Paper is Required for Name Change:
Stamp paper is a legal document used to record transactions and agreements between parties. It is a type of paper with a special adhesive stamp affixed to it, which denotes the value of the stamp duty paid to the government.
When it comes to changing a name on a share certificate, stamp paper is required as part of the legal process. This is because the name change involves a legal transaction, and the stamp paper serves as proof that the stamp duty has been paid to the government.
The stamp paper is used to prepare a legal affidavit, a sworn statement made by the individual whose name is being changed. The affidavit contains details such as the current name of
the individual, the new name they wish to adopt, and the reason for the name change. It is a legal document that the individual signs in the presence of a notary public, who then affixes their official seal and signature to the affidavit.
The stamp paper is used to purchase the legal affidavit, and the value of the stamp duty paid depends on the state where the individual resides. In some states, the value of the stamp duty is a fixed amount, while in others, it is a percentage of the value of the transaction.
The stamp paper and the legal affidavit are then submitted to the Gazette Notification Office to publish the name change in the official Gazette. The Gazette is a government publication that contains legal notices and announcements, including name changes. The publication of the name change in the Gazette is a legal requirement and serves as proof of the name change.
Procedure to Publish Gazette Notification:
To publish a Gazette Notification for a name change, follow the below steps:
Step 1: Obtain a form for name change from the Government Press or the official website of the Department of Publication.
Step 2: Fill in the form with details such as old name, new name, reason for the name change, and address.
Step 3: Attach a copy of the affidavit for name change and a copy of the address proof.
Step 4: Submit the form and the documents along with the required fee.
Step 5: Once the publication department verifies the documents, they will publish the Gazette Notification.
Benefits of Changing Name in Share Certificate
Changing the name in a share certificate can have several benefits, including:
Accurate Records: It ensures that the name on the share certificate matches the name on the PAN card, Aadhar card, and other documents. This helps in maintaining accurate records and avoiding discrepancies.
Legal Compliance: It ensures that the name change is done as per the legal requirements and is in compliance with the Companies Act, 2013.
Banking and Financial Transactions: It helps avoid any confusion or delays in banking and financial transactions as the name on the share certificate matches the name on the bank account and other financial documents.
Identity Verification: It helps in verifying the identity of the shareholder during transactions and prevents fraud or identity theft.
Conclusion:
Changing the name in a share certificate can seem like a daunting task, but with the right documents and procedure, it can be done smoothly. It is essential to ensure that the name change is done per the legal requirements to avoid any legal complications in the future. By following the steps mentioned in this guide, individuals can change their name in the share certificate and enjoy the benefits of accurate records, legal compliance, and smooth financial transactions.
Also Read:
