There is a lot of difficulty in Change Name in Share Certificate in Bhubaneswar. A share certificate is an official document attests to the possession of a certain number of shares or stocks in a firm.
The names of the corporation and the shareholder, the number of shares possessed, the date of issuance, and other information are included as proof of the shareholder’s ownership of the shares.
The certificate must be printed, written on paper, or submitted electronically and signed by the company’s corporate secretary or another authorized officer.
Why do we need to change the name in the share certificate?
There may be many reasons one might want to Change Name in Share Certificate in Bhubaneswar. They may be strictly corporate related, or it might even be some personal reasons.
Some of the corporate-related reasons are listed below:
- To reflect a change in the company’s name due to a merger, acquisition, or another corporate restructuring.
- to consider a change in the ownership of the business brought about by the sale or transfer of shares.
- To reflect a change in the company’s legal structure due to a conversion or reorganization.
- To facilitate the transfer of shares to another party.
- To reflect a change in the rights or privilege associated with the class of shares.
- To reflect a change in the voting rights of shareholders.
- To reflect a change in the dividend policy of the company.
- in order to reflect a change in the company name.
Other than this, there might be some personal reasons of the shareholder like:
- Marriage: When a woman gets married, she often chooses to take her husband’s surname, and as such, her share certificate should also reflect her new name.
- Divorce: If a woman has divorced and has gone back to using her maiden name, then the share certificate should also reflect her name change.
- Legally Changing Your Name: Some people may choose to change their name for various personal reasons. In this case, the share certificate should reflect the new name.
- Mistakes: In some cases, the name on the share certificate may have needed to be corrected or entered correctly. It is important to have this corrected to ensure that the certificate is legally binding.
- Inheritance: If a person has inherited shares, then the certificate should be updated to reflect the new owner’s name.
- Personal Preference: Someone may simply want to change their name for personal preference.
Procedure for Change Name in Share Certificate in Bhubaneswar
The process of name change in the official share certificate of a company itself is not a very lengthy process and doesn’t require much time.
Name change procedure in share certificate required following steps:
- The share certificate
- The Gazette notification
What is the Gazette notification?
Gazette notifications are official announcements published by the government in India. They are issued by the President, the Prime Minister, or any other authority specified by the Indian Constitution.
Gazette notifications are issued for matters of national importance, such as policy changes, new laws, and important appointments. They are published in both the English and Hindi languages and are available online and in hard copy form.
How to change the name in the official gazette (gazette notification)
A gazette notification is required if you want to change your name. It is a really important step in order to change the name in the share certificate.
There is a certain process in order to change the name in the official gazette, which is as follows:
Affidavit:
The shareholder has to prepare an affidavit to submit to the office of Controller of Publication, Govt. press in Bhubaneswar. To obtain the affidavit form, one needs to contact a notary.
The person has to make the affidavit stating the reason for the name change in the share certificate.
This affidavit is made on the official stamp paper provided by the notary.
It should state all the necessary reasons, including:
- New name
- Old name
- Reason
- Shareholder’s address
Publication in newspaper:
The person then has to contact the local daily to publish the advertisement of name change. The following information must be included:
- New name
- Address (women who want to change their name after marriage, must provide their husband’s address)
- DOB
- Old name
- Name of witnesse
The information must be published in two newspapers:
- A local English newspaper
- A local newspaper in their state’s official language, which is, Odia
Publication of a name change in the Indian government’s official gazette:
In order for the new name to be published in the official gazette, you have to provide some documents as a proof to the Department of Publication of Official Gazette of India.
These documents must include:
- The newspaper publication
- A digital soft copy signature listing all the details again (new name. old name. father’s name, address etc.)
- Forwarding letter describing that all the documents are enclosed in the envelope.
- Other necessary documents like pan card, Aadhar card, etc. These documents must be self-attested.
Required documents for Change Name in Share Certificate in Bhubaneswar
Documents required for the name change process are as follows:
- Newspaper advertisement
- Affidavit
- Passport-sized self-attested photos
- Any identity proof (like Pan card, Aadhar card, voter ID card, Passport, Driving license, etc.)
- Demand Draft
- Self-attested copy of Gazette notification
- Self-Attested copy of the Marriage Certificate issued by the competent authority (in case of name change due to Marriage)
- Request letter in Form ISR-4 (Annexure -1)
- Original share certificate
Who is eligible for a name change in the share certificate?
Generally, shareholders who own stock in a public or private company can apply for a name change on their share certificates.
Name changes on share certificates are typically allowed if the shareholder is deceased, or if the shareholder has legally changed their name. In some cases, the shareholder may need to provide certain documents to the company to prove their identity.
In most cases, the owner must provide a certified copy of a marriage certificate, divorce decree, or death certificate (anything according to the given circumstance) to prove the name change.
You may also need to provide other forms of identification, such as a driver’s license or passport.
Depending on the company’s policies, shareholders may also need to submit a written request for the name change, or complete a form provided by the company’s transfer agent.
Conclusion
Thus, this article has provided a step-by-step process in order to assist you in changing the name in the share certificate in Bhubaneswar.
The name change on a share certificate should be treated with care. It is important to ensure that all steps and processes are followed as outlined by the company in order to legally change the name on the certificate.
The process involves a fee, so it is important to understand the cost associated with the name change before proceeding.
Additionally, shareholders should be aware that their legal rights may be affected by a name change, so they should consult a lawyer if they have any questions or concerns.
FAQ (Frequently Asked Questions)
Q. How long does it take to change your name in the share certificate in Bhubaneswar?
A. It takes around three to four months for this process. Since, it is an official process, to be approved by the government, therefore it does take some time.
Q. is it possible to transfer shares held in physical form?
A. No, it is not possible to do so, since SEBI has made an amendment which requires a shareholder to change shares held by him to demat form.
Q. Can I take the help of any name change agent in Bhubaneswar for the name change process?
A. It is better to avoid those agents who are not approved by the official authority, since they could be a fraud. Always contact a trusted source/organization for such matters.
Q. What to do if the shares were held by a single shareholder, but that shareholder has expired?
A. If the shares are held in a single name and the shareholder has passed away, the shares may be transferred in the name of his legal heir upon presentation of the necessary paperwork:
- Legal heirs’ duly signed application is on file.
- The registered shareholder’s certified or notarized death certificate.
- Share certificates that are securely fastened.
- A letter of administration, a certificate of succession, or a will with probate.
- No-Objection Declarations from the applicants’ additional legal heirs, if necessary.
But if there is already a nominee that has been registered by the previous owner, and the person is not his legal heir, in that case, the share will be transferred to that person only, and not the legal heir.
Q. What should a person do, if the name in their share certificate is different from their demat account?
A. In case there is a mismatch, then a gazette letter or an affidavit letter with the notarized stamp of the govt. need to be submitted by the shareholder to the company, to prove that the name on both the accounts is of the same person.
Also Read:
Also Read:
- Name Change in Share Certificate in Chhattisgarh in Rs. 999
- How to Name Change in Share Certificate in Rajasthan
- How to Change Name in Share Certificate in Tamil Nadu?
- How to Change Name in Share Certificate in Telangana?
- How to Change Name in Share Certificate in Telangana?
- How to Change Name in Share Certificate in Punjab Online?
- Legal process to Name Change in Share Certificate in Gujarat
