In India, many people change their names for a variety of reasons. All government documents should be changed if anyone has changed their name recently. It is important to update the name change in share certificate in Andhra Pradesh, as this is one of the most important documents.
Changing names in other documents requires verification processes and other Id proofs, just like the name-changing process in birth certificate.
A share certificate is one of those important documents; one should remember to change the name. So here is a detailed procedure for name change in share certificate in Andhra Pradesh.
What is a share certificate, and why is it important?
A share certificate is a legal document that justifies your sole ownership in society over your stocks. Share certificate officially regards your identity in the share market.
With the help of a share certificate, you can buy shares, invest in them, sell shares, issue shares, transfer share, etc., and without a share certificate, you would not be able to do any of these financial activities. The society issues a share certificate after 15 days after you create your profile. Transfer of shares and stock exchange can not be done without a share certificate. If you do so, it can cause you an offensive charge.
Therefore, having an official share certificate is important; issuing a genuine share certificate with correct details protects you from future complications. If your name is changed in the birth certificate in Andhra Pradesh, you also must get your name change in share certificate in Andhra Pradesh.
Reason For name change in share certificate in Andhra Pradesh
Name changes are required for many reasons, such as,
- Astrology and numerology
- Change Name After Marriage
- For errors in the birth certificate
- Spelling mistakes in Name
- In the case of adoption
- When a person changes their identity
- When a person changes their religion
How to give an application for a name change in share certificate in Andhra Pradesh?
According to the bank of Maharashtra, if there is a change in the original name of a shareholder, then he/she can apply for a name change request in share certificate to the registrar in the following way:
- Bring along the original certificate of share certificate.
- A copy of the official gazette notification.
- A duly notarized proof of your name change (i.e., the newspaper in which it was published, stamp paper, or an affidavit).
These are the three basic documents one needs to submit along with the application form for name change in share certificate in Andhra Pradesh to the registrar. This is the process of just applying for the name change.
How is the entire process carried out?
Above mentioned is the process of filling an application form for a name change in share certificate in Andhra Pradesh. After that application is submitted to the registrar, next steps include submission of certain documents, verification of all the documents, changes in the share certificate, and payment for the punishment of the name change. All of them are described here in detail:
- Firstly submit the request letter for name change.
- Original share certificate with original/earlier name.
- An affidavit.
- Gazette notification copy.
- Attested copy of address proof (voter Id, driving license, aadhar card, bank passbook, etc.
- Pan card xerox which should be duly notarized.
An individual, a shareholder, needs to go through all of these steps of the name changing procedure to issue a new share certificate. All of the documents mentioned above are mandatory to be submitted. Copies are needed to be attached, and authentic proofs are to be given for verification by the respective authority.
How to Get Gazette Notification Copy?
As gazette notification is the one document, you get after your official name change in birth certificate. People mostly find complications in getting or issuing a gazette notification from the society and the central gazette corporation of Andhra Pradesh. Given below is the process of how to change the name in the official gazette.
Name change affidavit
Firstly one needs to prepare an affidavit that mentions the reason behind the shareholder’s change in name. It should be written on duly notarized stamp paper.
Publish name change ad in the newspaper
Publish your new name/changed name in newspapers of two languages. One should be in regional/vernacular/local language and the other one in English. You can publish the information article of the news section.
Provide necessary documents
Submit necessary documents, i.e., pan card, address proof, and passport copies.
Gazette publication
Visit the gazette notification department, where later on, you can get your changed name published in the legal registrar. This process will charge you an amount fee you will have to pay, and it varies from state to state.
This is the latest process of getting or issuing a gazette notification in Andhra Pradesh. Once you get the gazette notification, you can attach it to the application form and send it for submission. The gazette notification and affidavit holds the most value for the name change in share certificate in Andhra Pradesh.
How is the procedure carried out by the department of publication of the society?
After all the documents are received, verified, and found satisfactory, the changes you desire are made in the new share certificate. When the share certificate is updated by changing name, it is then sent to the secretary.
The secretary signs the share certificate, and the secretary’s sign is majorly important for it to be considered as an official share certificate.
The prominent duty of the secretary in this is to ensure that the revenue stamp and company’s seal are affixed on the share certificate. After verifying them both, the secretary should sign the share certificate. After the certificates are found in proper order, a meeting is arranged. This meeting is called to pass and issue the updated share certificate.
Where else can share certificates be used?
A share certificate is a type of receipt a shareholder owns. Which allows him/her for ownership of stocks. Share certificate provides the shareholder an incentive to give a proxy to another shareholder in his/her place to vote for the shares.
A share certificate is a legal document that you can present to any inquiry, checking up on your stock activities and questioning your finance. Share certificate at that time is the proof of your existence in society and of all your financial activities.
You may buy, sell, invest, and transfer shares using a share certificate, in addition to voting and analyzing a company. You can enquire about a company and their bonds if you have a share certificate. Share certificate gives you official consideration if you want to invest or buy their bonds.
How to apply for duplicate share certificate?
Once you get your name change in the share certificate in Andhra Pradesh, keep it safe and store it properly at your place. Misplacing it or losing it would make you fall into complications and uncertainties.
In case you lost or misplaced a share certificate, it will take a long process to get another one. In such instances, very quickly carry out the first step of filing an FIR for the misplacement or loss of the original share certificate. Here is what to do if you lose your share certificate.
- Send all the documents to the company which are duplicates. (You can also send the documents to the registrar for issuing duplicate certificates)
- Attach an affidavit with the documents.
- Provide an indemnity/surety bond.
- Attach the original copy of the FIR you filed for the loss of the original share certificate.
- A copy of your publication in the gazette publication.
Note:- “Duplicate” word should be written on all the duplicate documents.
After assembling all the above-mentioned documents, send them to the registrar or to the company.
Once they have received all the documents, they will conduct the verification process. After the verification process is done, they will start the procedure of issuing another duplicate share certificate for you. According to the reports from the company, it generally takes two to four months to issue a duplicate share certificate.
Thus, in case you misplace or lose your original share certificate in which you have got your name change in share certificate in Andhra Pradesh, you can reach out to the company/registrar. In two or four months, you will receive your duplicate share certificate.
Conclusion
The entire process of name change in share certificate in Andhra Pradesh is descriptively provided here with the need for documents. Even if the share certificate is lost, you can issue a duplicate one by carrying out the given procedure.
Also Read: How to Change Name in Share Certificate in Mizoram in Rs.999
