Changing your name in a share certificate is similar across all cities in India. This article will discuss how to Change name in share certificate in Agartala.
Any character can be added to the applicant’s name, including his last and first names. You can do it online or offline. You just need to complete the proper application form and submit it to the state gazette. For your name change process, you can approach Yourdoorstep and they will take care of everything for you. Don’t wait, just contact yourdoorstep.
Reason For Change name in share certificate in Agartala
There could be several reasons for changing your name in a share certificate. It could be due to marriage, divorce, adoption, or other personal reasons. Whatever the reason, ensuring that your name is updated in all legal documents is essential.
Due to religious purpose
Some people change their names because of religious purpose. People who adopt any other religion and leave their religion, then have to change their name on the share certificate.
Due to marriage
Marriage is the most common reason, people change their certificate. However it a related to religious reasons too. For the woman who married someone who belongs to a different cast then she has to change her name on the share certificate.
Due to divorce
Divorce is one of the reasons people change their name share certificate. As we have mentioned above point after marriage women change their surname according to their husbands’ names. In the same way when she has her divorce then also she has to change her name on the share certificate.
Child Adoption
When someone adopts a child then they will give a new name to him/her rather than their earlier name. And that the newborn name will be registered in the share certificate.
Wrong name on the certificate
If that official certificate has the wrong name of the person then they have to change their name on the share certificate.
Their several reasons people change their name on the share certificate and every individual has different reasons for this but above mentioned reasons are the most important reasons.
Document Required For Change name in share certificate in Agartala:
You will need the following documents to change your name on a share certificate:
- affidavit stating the reason for the name change
- A copy of the share certificate
- An attested copy of your marriage certificate (in case of a name change due to marriage)
- If you’ve changed your name due to a divorce, you’ll need an attested copy of your divorce decree.
- If the adoptee’s name has changed due to adoption, an attested copy of the adoption certificate is required.
- A copy of your Aadhaar card or any other valid identity proof
- A copy of your PAN card
- A passport size photograph
What is Share Certificate?
Share certificates are legal documents that prove ownership of shares in a company. It is issued to the shareholder by the company after the shares are allotted.
The share certificate contains details such as the name of the shareholder, the number of shares owned, and the date of allotment.
Procedure to change Name in Share certificate:
The procedure to change your name in a share certificate in Agartala is as follows:
Step 1: Get an affidavit
The first step is to get an affidavit stating the reason for the name change. Notarization and stamp paper should be used for the affidavit.
Step 2: Publish Gazette Notification
Following this, a Gazette Notification should be published announcing the name change. Publish the notification in the Gazette of India by submitting a request to the Government Press.
Step 3: Get a new PAN Card
You must apply for a new PAN card with your new name. You can do this online or by visiting the nearest PAN card center.
Step 4: Submit the documents
Once you have the affidavit, Gazette Notification, and new PAN card, you can submit these documents and a copy of the share certificate to the company’s registrar. The registrar will then update the share certificate with your new name.
Why stamp paper is required for name change?
A stamp paper is required for an affidavit as proof that the document is authentic. Stamp paper has a different value depending on the state where the affidavit is being made.
In Agartala, the stamp paper value for an affidavit is usually around Rs. 100.
Procedure to publish Gazette Notification:
To publish a Gazette Notification about your name change, you need to follow these steps
Name Change Affidavit
To begin, an affidavit must be obtained stating the shareholder’s correct name. Notarize the affidavit with a local notary public, and indicate the reason for the correction, e.g., spelling error. Furthermore, affidavits should include information about stock certificates, such as the certificate number, the number of shares, and the date of issuance.
News Paper Publication
A local newspaper notice should be published announcing the name change. You should include the shareholder’s name, the corrected name, and why the name needed to be corrected. Publish the notice in a local newspaper.
Submit Documents To The Registrar
When the notice is published, the company’s registrar and share transfer agent (RTA) should be notified. A correction will be made to the share certificate once the RTA has verified the documents.
Benefits of Change Name in Share Certificate:
The following benefits can be gained by changing the name on a share certificate:
- Transferring ownership: You can transfer ownership of shares by changing the name on a share certificate.
- Estate planning: If you want to leave your shares to a family member or friend in your will, changing the name on the share certificate is a necessary step.
- Selling shares: If you want to sell your shares, you will need to change your name on the share certificate to match the buyer’s name.
- Consolidating holdings: If you own shares under different names or with different brokers, changing the name on the share certificate can help you consolidate your holdings.
- Avoiding fraud: Changing the name on the share certificate can help prevent fraud by ensuring that the correct person owns the shares.
- Access to shareholder benefits: Some companies offer shareholder benefits, such as discounts on products or services, to their shareholders. By changing the name on the share certificate, these benefits can be transferred to the new owner.
The benefits of changing the name on a share certificate in Agartala, India, are similar to those mentioned earlier. Some additional benefits specific to Agartala and India include:
- Complying with legal requirements: Changing the name on a share certificate in Agartala is essential to comply with legal requirements set by the Securities and Exchange Board of India (SEBI) and the Companies Act, 2013.
- Facilitating transactions: Updating the name on the share certificate can facilitate transactions in the Indian stock market, including buying and selling shares on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
- Avoiding potential delays and penalties: Failure to update the name on the share certificate can result in delays and penalties, particularly when selling or transferring shares. Therefore, changing the name on the share certificate can help avoid such issues.
- Building credibility: In Agartala, as in any other city, an updated share certificate can build credibility and trust with potential investors, buyers, and stakeholders.
- It is important to note that changing the name on a share certificate in Agartala may require specific documentation, such as a notarized affidavit, PAN card, and identity proof. It is advisable to consult with a legal professional or financial advisor to understand the specific requirements and process involved.
Conclusion
A name mismatch on your share certificate can emerge due to varied explanations, like marriage, divorce, adoption, or precisely because of dissatisfaction with your name. Changing a name in your share certificate can be a prolonged procedure. If all your documents are updated, proper, and handy. And then if you follow all the required process rightly it will take 3-4 months to change your name in the share certificate.
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