It is possible to Change Name in Share Certificate in Bangalore online. The process is not difficult, but it takes a long time. You can contact Yourdoorstep for your name change.

Changing one’s name is a personal choice, but it can create legal issues when it comes to share certificates. The purpose of this article is to explain how to change the name on the share certificate in Bangalore.

Reason For Change Name in Share Certificate in Bangalore:

People change their names for a variety of reasons:

1. Marriage: One of the most common reasons for changing one’s name is marriage. After marriage, many women prefer to take their husband’s surname as their own. However, if the name on the share certificate does not match the new name, it can lead to complications.
2. Divorce: Following a divorce, some women may wish to return to their maiden names. Similarly, men may want to change their name after divorce. In such cases, changing the name on the share certificate is necessary to avoid legal issues.
3. Personal Reasons: Some people may want to change their name for personal reasons, such as not liking their current name or wanting to adopt a different one for professional reasons. If any confusion or legal issues arise, changing the name on the share certificate is imperative.
4. Mismatch between Legal Documents: 

The name on the share certificate may also need to be changed if it does not match other legal documents. It can happen for a variety of reasons, such as misspellings or documentation errors. In such cases, changing the name on the share certificate is necessary to avoid any legal complications.

5. Death of a Family Member: In case of the death of a family member who was the shareholder, the legal heir may want to change the name on the share certificate. In such cases, the legal heir must follow the prescribed procedure to change the name on the share certificate.

Document Required for Change Name in Share Certificate in Bangalore:

Share certificate name changes in Bangalore require specific documents from the applicant. These documents are required to ensure the legal validity of the name change process and avoid future complications.

1. Identity Proof: The applicant must provide government-issued identity proof such as a passport, Aadhaar card, voter ID, or driving license. The identity proof must have the applicant’s photograph, name, and date of birth.
2. Address Proof: The applicant must provide an address proof document such as a utility bill, bank statement, or Aadhaar card. The address proof document must have the applicant’s name and current address.
3. Share Certificate: The applicant must provide the original share certificate with the current name. 
4. Affidavit: The applicant must submit an affidavit declaring that they have changed their name legally and providing details about the reason for the name change. The affidavit must be duly attested by a notary or a lawyer.
5. Gazette Notification: The applicant must provide a copy of the Gazette Notification in which the new name is published. The Gazette Notification is a legal document that declares the name change and is mandatory in many cases.
6. Deed Poll: In some cases, the applicant may need to provide a Deed Poll, a legal document that states the intention of the applicant to change their name. The Deed Poll must be signed by the applicant and witnessed by two adults.
7. Marriage Certificate/Divorce Decree: If the name change is due to marriage or divorce, the applicant must provide a certificate or decree as proof of the name change.
8. Death Certificate of Legal Heir: In case of the death of a family member who was the shareholder, the legal heir must provide a death certificate as proof of the name change.
9. Demat Account Details: If the shares are held in a demat account, the applicant must provide the details of the demat account, including the DP ID and client ID.
10. Two Local Newspaper Copies: In some cases, the applicant may need to publish an advertisement in two local newspapers announcing the name change. A copy of the newspaper advertisement must be provided by the applicant.

Documents required may vary based on the type of shareholder and the reason for the name change. It is advisable to consult an expert lawyer or seek free legal advice to ensure all necessary documents are submitted for the name change process.

What is Share Certificate?

Share certificates are legal documents proving ownership of shares in a company. Share certificates are commonly issued by companies that are not publicly traded or are privately held. In India, share certificates are governed by the Companies Act, 2013.

1. Contents of a Share Certificate:

A share certificate typically contains the following details:

• Shares are issued by the following company:
• Shareholder’s name and address
• Shares owned and their type
• Share certificate issue date
• Share certificate identification number
• The signature of the company’s authorized signatory

2. Importance of Share Certificate: 

The share certificate is an important document that proves ownership of a company’s shares. A shareholder’s investment is evidenced by these documents, which are required for several legal and financial purposes.

3. Types of Share Certificates:

There are different types of share certificates, including:

• Ordinary Share Certificates: These are the most common type of share certificates and represent ownership in the company.
• Preference Share Certificates: These share certificates represent ownership in a company but come with certain preferences, such as priority in dividend payments or liquidation.
• Redeemable Share Certificates: These share certificates can be redeemed by the company after a certain period or at a specific time.
• Cumulative Preference Share Certificates: These share certificates entitle the shareholder to receive unpaid dividends in the future.

Issuing Share Certificates: Share certificates are typically issued by the company’s registrar and transfer agent. The shareholder must provide the necessary details and documents, including proof of payment for the shares.

Holding Share Certificates: Share certificates must be kept in a safe place, as they are legal documents that prove ownership of the shares. Shareholders must ensure that the share certificates are not lost, stolen, or damaged. In recent times, the use of dematerialized shares (demat) is becoming more popular, and investors are holding their shares in electronic form rather than physical certificates.

Changing Name in Share Certificate: 

Shareholders must follow the prescribed procedures when changing the name on a share certificate, including submitting the necessary documents.

How to Obtain Duplicate Share Certificate?

If the original share certificate is lost or damaged, then a duplicate share certificate can be obtained by following these steps:

1. File an FIR in the local police station.
2. Submit a copy of the FIR to the company along with an application for a duplicate share certificate.
3. Pay the prescribed fees.
4. The company will issue a duplicate share certificate.

Procedure to Change Name in Share Certificate in Bangalore

To change the name in the share certificate, follow these steps:

1. Get an affidavit for a change of name from a notary or lawyer.
2. Obtain a deed poll for change of name.
3. Publish a gazette notification in Delhi or Bangalore.
4. Submit the application for change of name along with the old share certificate, affidavit, deed poll, and gazette notification to the company.
5. Pay the prescribed fees.
6. The company will issue a new share certificate in favor of the new name.

What is Demat Account?

A demat account, short for dematerialized account, is an electronic account that allows investors to hold and trade securities in an electronic format. It is a type of account that holds shares and other securities in a dematerialized form, replacing the physical share certificates. In India, demat accounts are maintained by two depositories: National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).

1. Purpose of Demat Account: The main purpose of a demat account is to provide a secure and convenient way for investors to hold and trade securities. It eliminates the need for physical share certificates, reducing the risk of loss, theft, or damage.

2. Types of Securities held in Demat Account: A demat account can hold various types of securities, including shares, bonds, mutual funds, exchange-traded funds (ETFs), and government securities.

3. Process of Opening Demat Account: To open a demat account, an investor must fill out an application form with their personal and financial details. 

4. Benefits of Demat Account: Some of the key benefits of a demat account are:

• Safe and secure storage of securities
• Convenient and easy access to securities
• Elimination of physical share certificates
• Faster settlement of trades
• Reduced paperwork
• Lower transaction costs

5. Demat Account and Changing Name in Share Certificate: A demat account plays a crucial role in the process of changing the name in a share certificate. After publishing the Gazette Notification, the shareholder must submit the necessary documents to their DP, who will then update the name in the demat account. Once the name is updated in the demat account, the shareholder can trade securities under the new name.

Procedure to Publish Gazette Notification:

To publish a gazette notification, follow these steps:

1. Get an application form from the Controller of Publication, Ministry of Urban Development, Government of India.

2. Fill out the form with the necessary details.

3. Attach a copy of the affidavit and deed poll.

4. Pay the prescribed fees.

5. Submit the form to the Controller of Publication.

6. The gazette notification will be published in the next issue.

Benefits of Change Name in Share Certificate:

• 1. Avoid legal issues.
• 2. Create a better reflection of your identity.
• 3. No more mismatch between the name on the share certificate and other legal documents.

Conclusion:

Changing the name in the share certificate is a necessary step to avoid legal issues. It requires a few documents and following the prescribed procedure. By doing this, you can ensure that your share certificate reflects your identity correctly.

Also Read:

• Name change in share certificate in Ladakh
• How to Change Name in Share Certificate in Jaipur
• Name Change in Share Certificate in Kolkata
• Fix Spelling Mistake in Share Certificate
• Request Letter for Name Change in Share Certificate
• Fix Name Mismatch In Share Certificate And Demat Account