How to Change Name in Share Certificate in Puducherry
The process for Change Name in Share Certificate in Puducherry is relatively easy. Read this article carefully if you wish to change the name on your share certificate.
A “share certificate” is issued to the shareholder when he or she buys a share of the company. Share certificates prove that shares have been purchased and owned by the company.
What is share certificate?
Share Certificate is a certificate issued by a company to its shareholders, proving that the shareholder is entitled to own shares. It can be used for various purposes, including the transfer of shares between shareholders, ownership transfer and payment of dividends.
Companies or financial institutions issue share certificates. Some of the features of share certificates are:
- Certificate number
- Shareholder name and address
- Company name and registration number
- Number of shares bought
- Amount paid
Reasons For Change Name in Share Certificate in Puducherry
The shareholders had to change their names for many reasons, like marriage, divorce, adoption or dissatisfaction with the name in their share certificate. Changing the name in a share certificate is a lengthy process and all the steps in it must be executed in a very proper way. If you have all your documents handy and follow the process rightly, changing the name will take about 3 to 4 months.
How to obtain duplicate share certificate?
Here are a few steps to be followed to obtain a duplicate share certificate,
- The first stage in obtaining duplicate share certificates is to file a complaint with the police station and obtain a FIR. The FIR can be original or certified by a notary or gazette officer.
- The Indemnity and Affidavit must be prepared on non-judicial stamp paper of the necessary value. A Notary Public or Special Executive Magistrate must correctly attest to it. The affidavit should carry appropriate notarial stamps, the seal, and the Notary’s Registration Number.
- A stamp paper to be purchased in the name of the shareholder.
- Along with the Indemnity and Affidavit, the Applicant must complete the Questionnaire Form in regard to the securities for which the original certificates have been destroyed.
- A salary certificate, a duplicate of the most recent Assessment Order issued by Income Tax authorities, or a proposed valuation Report issued by Revenue Authorities must be presented as supporting documentation. A Notary officer must correctly attest these documents. The Surety income should be higher than the share’s current market value.
- A self-attested PAN card duplicate and proof of residence from the shareholders must be provided along with the supporting papers.
- All the documents will be sent via a speed post to the company for further approval.
Process to Publish a Gazette Notification
The individual is required to publish a Gazette notification after obtaining a court order.
Change of Name Affidavit
Gazette publication requires a name change affidavit. Affidavits should mention the reason for name changes.
Publication in a newspaper
A name change notification should be published in two local newspapers – one in English and one in the local language – in the area where the individual resides.
Gazette Publication
The notice will be published in the Gazette after the gazette officer has verified your documents.
Submissions should be made in the required format, including the fee receipt and other pertinent documents. The Gazette Notification will be published on a specific date, as per the Gazette’s publication schedule.
Process to Change Name in Share Certificate in Puducherry
Changing your name on a share certificate is a relatively straightforward process, but it does require following specific steps and submitting the required documents to relevant authorities. You may need to change your name on a share certificate for several reasons, including marriage, divorce, adoption, or a legal name change.
Obtain Copy Of Share Certificate
The first step in changing your name on a share certificate is to obtain a copy of the share certificate that includes your current name. The proof of identity you need for this process is a passport, driver’s license, or other government-issued identification.
Once you have obtained the share certificate, you must fill out a form to change the name on the certificate.
Fill Form
The form will require you to provide details about the share certificate, including the certificate number, the name of the company that issued the certificate, and the number of shares. You will also need to provide details about your current name and your new name, along with any required supporting documents. Documents required to support the name change will vary based on the reason for the change.
Required Documents
In order to submit your application to the relevant authorities, you must complete the form and gather all the necessary documents. You must include the original share certificate, the completed form, and any required supporting documents. The authorities will then process your request and issue a new share certificate with your updated name.
Following all the necessary steps and providing accurate and complete information when changing your name on a share certificate is important. This will help ensure the process is completed smoothly and without issues. Additionally, you may need to update your name on other legal documents, such as your passport, driver’s license, or bank accounts, to ensure consistency across all your records.
Benefits of Change Name in Share Certificate in Puducherry
Changing your name on a share certificate can offer various benefits. Firstly, it helps you have a consistent identity across all your legal documents, including your share certificates, passport, and driver’s license. This consistency makes it easier to verify your identity and reduces the chances of any confusion or errors.
Secondly, if you’re selling or transferring your shares to someone else, having a share certificate with your updated name can prevent potential issues or delays in the process. For example, if your name on the share certificate doesn’t match the name on your ID, it could raise concerns and delay the sale or transfer.
Additionally, updating your name on a share certificate can provide peace of mind and avoid legal disputes. It ensures that your shares are registered under your correct name, which can be important if there are any future legal issues involving your shares.
Furthermore, if you’re a shareholder in a publicly traded company, having an up-to-date share certificate with your correct name can help you to exercise your shareholder rights more easily. For instance, if you want to vote on important company matters, having a valid share certificate with your updated name ensures you can do so.
Conclusion
In conclusion, to change your name on a share certificate in Puducherry, you must follow specific procedures and submit the required documents to the relevant authorities. The reasons for changing your name could be diverse, such as marriage, divorce, adoption, or a legal name change. Changes to your share certificates can be made for any reason.
The process will run smoothly and hassle-free if you provide accurate and complete information. It is important to update your share certificate’s name to avoid discrepancies across all your legal documents. By following the necessary steps, you can easily change your name on your share certificate and confidently continue investing.
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