If you are having trouble a Name Change in Share Certificate in Kohima. Here we will explain the complete procedure of name Change in Share Certificate in Kohima.
For investors who wish to trade often or make long-term, methodical investments, the Indian stock market has emerged as their favorite investing venue. The growth of digital trading platforms and investing technology has led to an unheard-of increase in trade volume.
The SEBI has stipulated that every firm must provide a share certificate to every investor who purchases its shares since the shares you acquire are assets with monetary worth and make you a part owner of the company. This is done to guarantee that the business and the appropriate authorities are in possession of all essential information regarding the shareholders, including their percentage of ownership.
If you want to changed your name online you can change it with yourdoorstep.
What is Share Certificate?
The share certificate is a formal record attesting to the ownership of a certain number of shares. Shareholders receive certificates from the corporation proving ownership. On certificates, you will often find information about the shareholder, the number of shares owned, the class of shares, and the par value of the shares. Additionally, a serial number or special identification number might be present.
Share certificates used to be physical papers, but as internet trading has become more common, many businesses are now issuing digital share certificates that are stored in an electronic register.
Share certificates are significant because they serve as proof of ownership and are frequently needed for various transactions, including buying, selling, transferring, and attending shareholder meetings. Share certificates should be kept in a secure location by shareholders because they can be challenging to replace if lost or stolen.
For investors who want to trade frequently or make long-term, methodical investments, the Indian stock market has emerged as their preferred investment venue. The growth of digital trading platforms and investing technology has led to an unheard-of increase in trade volume.
This increase in trading activity serves as a reminder to the company issuing the shares that it must keep track of all of its shareholders because they are the company’s partial owners. To ensure they retain track of the present shareholders, corporations must issue share certificates because investors frequently buy and sell shares.
Reasons For Name Change in Share Certificate in Kohima
There are a number of causes for someone to want to change their name on an Indian share certificate. Here are a few typical explanations:
- Change in marital status: When a person gets married or divorces, they may need to update their share certificates with their new legal names.
- Change in legal name: If a person legally changes their name for any reason, such as through a court order, they must update their name on their share certificate.
- Correction of spelling errors: If there is an error in the spelling of a person’s name on their share certificate, they may need to update it to correct the mistake.
- Change in gender: If a person undergoes a gender transition and changes their name to reflect their new gender, they may need to update their name on their share certificate.
To avoid any problems or hassles in the future, it is crucial to confirm that the name on the share certificate corresponds to the person’s current legal name.
Procedure for change of name on Share certificate.
The procedure for changing the name on a share certificate in India involves the following steps:
- Obtaining a legal document that validates the name change is the first step. Marriage certificates, gazette notifications, and court orders are examples of such documents. The paper must be legitimate and accepted by the authorities.
- The shareholder must then notify the company’s registrar, either by writing or email, of their ownership of the company’s shares. A copy of the share certificate and the most recent name change paperwork should be annexed to the correspondence.
- The shareholder must then deliver the original share certificate and the documentation proving the name change to the registrar. The share certificate will be amended as needed by the registrar when the papers are verified.
- The registrar will then issue a new share certificate with the revised name after making the necessary adjustments. To acquire the new certificate, the shareholder must return the old one.
It is significant to keep in mind that the specific process may differ based on the organization and registrar involved. Some businesses could demand extra paperwork or procedures. Before moving forward with the name change, the shareholder should speak with the company registrar to get specific instructions and confirm that they have all the required paperwork and information. It’s also a good idea to keep copies of all documents submitted for your records.
How to obtain duplicate Share Certificate?
If a shareholder loses their share certificate, they can obtain a duplicate share certificate in India by following these steps:
Complain: The shareholder must report the loss of the certificate to the police department that is the closest to the scene. They ought to get a copy of the First Information Report (FIR) for their records.
The shareholder must notify the company’s registrar of the loss of the share certificate in order to transfer their shares. They must supply information on the lost certificate, including the share count, folio number, and certificate number.
provide the required paperwork The shareholder must provide the company registrar with an application for a duplicate share certificate, the FIR, a copy of the PAN card, and an indemnification bond. The indemnity bond is a legal document that defends the business from any claims made in the future due to the disappearance of the original share certificate. The shareholder, as well as two witnesses, must all sign the bond.
Verification: A duplicate share certificate will be issued by the company registrar when the registrar has verified the shareholder’s documents. If the original share certificate is discovered in the future, the shareholder will have to turn it over.
It is important to remember that the procedure might change slightly depending on the company and registrar involved. Before obtaining a duplicate share certificate, shareholders should speak with the business registrar to get specific instructions and confirm that they have all required paperwork and information.
Procedure to Apply For Name Change in Share Certificate in Kohima
To change the name of a share certificate in Kohima, you must publish a gazette notification.
An official Gazette publication refers to the recording and publication of the applicant’s name change in India. You should have your new name published in the official gazette.
For anyone who want to apply to be government employees or take government exams, a gazette notice is required. Certain banks may require you to submit a gazette notification to update their KYC data. You need to follow the following steps in order to publish a gazette:
- Name Change Affidavit
- Newspaper Publication – You have publish name change advertisment in two local newspapers.
- Gazette Publication
The following documents are required to change a legal name:
- A copy of “Deed Changing Name Form” is available at the local government press or at the department that mobilizes Gazette notices
- Original copies of your newspaper advertisements.
- Change of legal name request letter to the secretary
- Passport-size photo attestation
- A copy of the affidavit attesting to the name change
- A photo ID (PAN, Passport, Aadhaar, driving license, etc.)
Your name change will be published in the official gazette once all your documents have been verified by the Government.
For this gazette publication procedure, you will have to pay between 700 and 900 depending on whether you want a public notice. The payment can be made with cash or a postal draft.
Conclusion
Nowadays, it is uncommon for an investor to request real share certificates. However, it does not imply that the corporation is exempt from the requirement to issue a share certificate. The business must issue an electronic share certificate that follows the same issuance process if the certificate is not issued in physical form. However, the shareholder receives the share certificate by email.
Any company that disobeys the SEBI-mandated share certificate requirements can face a minimum fine of Rs 25,000 and a maximum fine of Rs 5,000,000. A minimum charge of Rs. 10,000 and a maximum fine of Rs. 100,000 can also be imposed on the defaulting official.
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