If your name is incorrect in your share certificate and you want to change your name in share certificate, Here we are going to explain the process of change name in share certificate in Lucknow online & offline.
Share certificates are documents that certify the ownership of a shareholder in a business. It is a document issued by the company in the name of a shareholder, which states the number of shares held by the shareholder.
If there is a change in the name of the shareholder due to marriage, divorce, adoption, or other reasons, then it is necessary to make changes in the share certificate as well. Changing the name in a share certificate in Lucknow requires some documents and procedures.
In order to change the name on a share certificate in Lucknow, you will need to submit the following documents to the company registrar:
- An application form that is duly filled and signed by the current shareholder.
- The original share certificate.
- Proof of identity of the current shareholder, such as a valid photo ID (passport, PAN card, etc.).
- Proof of address of the current shareholder, such as a valid utility bill, bank statement, etc.
- Proof of identity and address of the new shareholder.
- A notarized affidavit from the current shareholder.
- Any other documents as required by the company registrar. Once all the documents have been submitted and approved, the company registrar will issue a new share certificate in the name of the new shareholder.
Procedure for Change Name in Share Certificate in Lucknow
The process of changing the name on a share certificate is relatively straightforward:
Step 1: Obtain the Necessary Documents The first step in changing the name on a share certificate is to obtain the necessary documents. If you need to transfer your shares, you may need to submit a transfer form, a copy of your current driver’s license, and the original share certificate, depending on the issuing company.
Step 2: Complete the Transfer Form Once you have obtained the necessary documents, you will need to fill out the transfer form. This form will require you to provide information about the current owner of the shares, including their name, address, and the number of shares that are being transferred.
Step 3: Submit the Documents After you have completed the transfer form, you will need to submit it along with any other required documents to the issuing company. The company will then review the documents and process the transfer of ownership. It is important to note that the process of changing the name on a share certificate may take several weeks to complete.
Step 4: Receive the New Share Certificate Once the transfer is complete, the issuing company will send you a new share certificate with the updated name. You will need this certificate when you transfer or sell the shares in the future, so keep it safe.
If you follow these steps, changing the name on a share certificate should be fairly straightforward. However, it is important to remember that the process may take several weeks to complete, so be sure to plan accordingly.
Reason for Change Name in Share Certificate in Lucknow
Name changes on share certificates are a common occurrence. The reasons for a name change on a share certificate may vary but typically involve a corporate restructuring, a legal change of ownership, or a transfer of shares from one individual to another.
In the case of corporate restructuring, a company may change its name to reflect a merger, acquisition, or other significant change in business operations. This often occurs when two companies merge, or one company takes over another.
In these cases, the resulting company would have a new name, and its shares would need to be reissued in the new name. Another common reason for a name change on a share certificate is a legal change of ownership. This may happen when another company buys out a company or when a shareholder dies, and their shares are transferred to a family member or other beneficiary. The share certificate must be reissued in the new owner’s name in these cases.
Finally, a name change may be required when a shareholder transfers shares to another person. This could be done as a gift, inheritance, or other transaction. In this case, the share certificate must be reissued in the new owner’s name.
Document Required for Change Name in Share Certificate in Lucknow
The following documents are required to change the name on the share certificate:
- Copy of the share certificate
- Original copy of the valid ID proof of the shareholder
- Original copy of the valid address proof of the shareholder
- Original copy of marriage certificate or divorce decree in case of name change due to marriage or divorce.
- Copy of the Gazette Notification
- 2 Witness affidavits
- Court order in case of adoption.
What is Share Certificate?
A share certificate is a document issued by the company in the name of a shareholder, which states the number of shares held by the shareholder. A share certificate certifies the ownership of a company’s shareholders.
Procedure to Change Name in Share Certificate Changing the name in a share certificate in Lucknow requires some documents and procedures.
1. Shareholders must submit a name change application to the company.
2. The application should contain the details of the existing and new name, number of shares, date of issue of share certificate, etc.
3. The company will verify the documents submitted by the shareholder, and if found correct, it will issue a new share certificate in the name of the shareholder.
4. The shareholder will receive a new share certificate from the company.
Why is Stamp Paper Required for Name Change?
Stamp paper is required for the name change in the share certificate because it serves as legal proof of the name change. The stamp paper will be signed by the shareholder and two witnesses and submitted to the company as part of the application process.
When it comes to changing the name of a shareholder on a share certificate, stamp paper is required in order to ensure that the transfer of ownership is legally binding.
As such, it is essential for investors and companies alike to understand stamp paper’s role and why it is so important. Stamp paper, also known as revenue stamps, is a document that the government issues to indicate that the document has been legally stamped and is legally valid.
This paper is usually embossed or printed with the government’s seal, which indicates that the document has been officially approved.
The use of stamp paper is especially important in India, as it is a necessary part of the process of transferring ownership of shares in a company. In the case of a name change, the stamp paper ensures that the transfer of ownership is done in a legal way. This is to protect the rights of both the company and the shareholder.
Stamp paper is also used to ensure that the company is able to keep accurate records of its shareholders, which is important for any company to maintain.
The stamp paper also helps to ensure that the name change is done correctly and that all necessary details are included in the transfer. This includes the name of the new shareholder, the number of shares being transferred, and any other necessary details.
Procedure to Publish Official Gazette Notification
A Gazette notification is required when change of name on your share certificate. To publish a Gazette notification, follow the given procedure.
Name Change Affidavit
For Gazette notification, name change affidavit is required. Without name change affidavit you can;t change name in your certificate.
Advertise in a local newspaper:
As soon as you have the affidavit, you must place an advertisement in two local newspapers, one in your native tongue and the other in English, explaining your old name, new name, and why you are changing it. A minimum of 15 days must pass since the advertisement was published before the application for a Gazette Notification can be submitted.
Gazette publication
To complete the renaming process, a name change must be notified to the Gazette Office. Your name will be legally changed once the Gazette notice is published.
Benefits of Change Name in Share Certificate
The name change in the share certificate benefits the shareholder as it ensures that the records are updated. It also helps avoid any legal issues that may arise due to wrong information in the share certificate.
Conclusion
Changing the name in the share certificate in Lucknow is a simple process that requires some documents and procedures. The shareholder has to submit an application to the company and provide all the necessary documents. The company will verify the documents and issue a new share certificate in the name of the shareholder. The company will also publish a Gazette Notification to make the name change official. Thus, changing the name on the share certificate benefits the shareholder and helps avoid legal issues.
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