How To Name Change In Share Certificate In Ladakh

When a company’s shareholders want to change their name for one reason or the other, they must follow a list of steps prescribed by the government.

They also need to follow the company guidelines in order to name change in share certificate in Ladakh. This process is known as a name change request.

The procedure generally includes filing a formal request for a name change that contains the justifications for the change and a list of relevant documentation to support the request. The company will issue new share certificates with the amended name if the request is granted.

To ensure that the business complies with the most recent rules and legislation, altering the name on a share certificate is important.

Changing the name in the share certificate is a challenging process; therefore, it is advised that you correctly follow all the step-by-step instructions in this article.

Reasons for Name Change in share certificate in Ladakh

Reasons for change in name in share certificate in Ladakh

The name change in share certificate in Ladakh may be due to various reasons, which may be personal or corporate-related.

Some of the corporate-related reasons for the name change include the following:

A corporate name change due to a merger or acquisition
A share split or bonus issue
Because of the transfer of shares to another party
Simple misspelling of a name in share certificate
Sometimes company goes under a reorganization and may need to update the shareholder’s name to reflect a change in the corporate structure.

Other than this, there may be some personal reasons why shareholders may want to change name in share certificate:

Change in marital status: If a shareholder gets married or changes their surname due to marriage, they may update their shareholder’s name to reflect the new name.
Divorce: After a divorce, a person may go back to their maiden name or choose a new name altogether.
Identity Change: A person may change their name for personal reasons, such as a desire to start fresh and create a new identity.
Religious Reasons: A person may choose to change their name to reflect their spiritual beliefs.
Professional Reasons: If a person chooses to pursue a career in a different field, they may switch their name to create a more professional brand.
Privacy: A person may choose to change their name to protect their identity and privacy.
Heritage: A person may choose to change their name to honour their family heritage or to distinguish themselves from their family.

Documents that are needed for name change in share certificate in Ladakh

It is crucial to provide all required paperwork when changing a person’s name on stock certificates. The following documents are necessary:

Affidavit of name change
Advertisement in newspaper that you had published regarding name change
Any identity proof (like Pan card, Aadhar card, voter ID card, Passport, Driving license, etc.)
Original share certificate
Marriage certificate (self-attested) in case name change due to marriage
Gazette notification
Demand draft

Who can apply for name change

Any person who has shares in a firm is eligible to request a name change in the share certificate in Ladakh. Before the name change can go into effect, the business must approve it. The shareholder is required to explain the change’s reasoning.

The shareholder must also file a formal request for the name change and provide documentation. This may include a copy of a marriage certificate (in case of name change due to marriage) or a copy of a court order. The company may also require additional documentation, such as proof of identity, before it can process the request.

The company’s rules and regulations will determine which documents must be presented to the company.

Name changes are normally permitted in the following circumstances: the death of a former shareholder; a marriage; an error on the share certificate; or a name change that was made formally.

Process for name change in share certificate in Ladakh

The company’s registrar and share transfer agent issues the share certificates (RTA). Following all the steps outlined by the government and submitting all the relevant paperwork are both needed steps in the name change process.

Step by Step Name Change Procedure in Ladakh in Share Certificate

How to update name in the official gazette

The official Gazette is a publication of the government that contains all the laws, rules, regulations, and other official notices issued by the government. It is a primary source of information for citizens, organizations, and businesses to stay informed about government activities.

To change name in the official Gazette (to obtain gazette notification) the following steps are to be followed:

Affidavit of name change

The applicant must first create an affidavit before requesting a name change in the share certificate in Ladakh. A written declaration made under oath and acknowledged by a notary public is known as an affidavit. The affiant’s personal knowledge must be the basis for the affidavit, which must be made voluntarily.

The following key information must be mentioned in the affidavit:

Value of stamp paper
New name
Old name
The shareholder’s address
The reason for name change

If in case the name change is due to marriage, the following details must be submitted:

Current name
Father’s name
Old address
New name
Husband’s name
The new address

Publish an advertisement in the newspaper

After the first step is completed, the applicant must then submit a request for publishing an ad for name change in the local daily. The ad must be published in two newspapers. One in the English local daily, and one in the state’s official language.

The following details must be present in the newspaper:

old name
new name
Address
DOB
New address in case of marriage
Name of the witnesses during the signing of affidavit

Publishing in the official Gazette

For publishment of name change in official document, you also have to provide some documents to the Department of publications of the official gazette of India. You typically have to submit an application along with some documents of proof which include:

The main forwarding application/letter
Digital soft copy signature CD listing all the information again. It should be self-attested.
The advertisement made in the newspaper
Any identity proof like PAN card or Aadhar card or driver’s license etc.

Format of the affidavit for name change in share certificate in Ladakh

Here, is a sample format for name change in share certificate in Ladakh:

I, [Name], of [Address], do solemnly affirm and state as follows:

1. I am the holder of Share Certificate No. [Certificate Number] issued by [Company Name].

2. I am desirous of changing my name in the said certificate as it appears in the records of the company.

3. The present name is [Present Name] and the proposed name is [Proposed Name].

4. The reason for the proposed change of name is [Reason].

5. I am enclosing the following documents as proof of my identity and the proposed name change: [List of documents]

6. I solemnly affirm that the above statement is true and correct to the best of my knowledge and belief.

Importance of name change in share certificates

The process of changing the name on a share certificate is important in order to ensure that the company is compliant with the current regulations and laws.

A name change in a share certificate is also important to ensure that the ownership of the shares is accurately reflected and that the shares are registered in the correct name.

It ensures that the company’s shareholders are properly identified, which is essential for the company’s legal and financial transactions. Additionally, it helps to protect the company against any potential fraud or misappropriation of funds.

A name change also prevents potential confusion or disputes among shareholders or the company.

In conclusion, the process of changing the name on a share certificate is relatively simple if the correct paperwork is completed and submitted.

It is important to understand the company’s rules and regulations around name changes on share certificates and to also consult with a knowledgeable securities attorney to ensure the process is completed correctly.

Ultimately, changing the name on a share certificate is an important step in safeguarding the value of the shares and protecting the rights of the shareholder.

Frequently asked questions

Q. What is a share certificate?

Ans. A share certificate is a written statement that attests to the possession of shares in a company. It is issued by the corporation and normally contains the name of the shareholder, how many shares they own, and the name of the company.

Q. Is there a fee for publication in the gazette for name change in share certificate in Ladakh?

Ans. For name change, the applicant needs to pay some amount for publication in the gazette. The amount varies based upon whether the public notice is desired. You can find more information on the website portal of the Department of Publication (Government of India).

Q. Do I need to inform the company of the name change?

Ans. Yes, in order to make sure that the correct name appears on the share certificate, it is essential to notify the company of any name changes.

Q. How long does it take for the name change to take effect?

Ans. Depending on the business, the process could take up to a few weeks. It’s important to remember that until the new share certificate is obtained, the name change might not go into effect.

How to Name Change in share certificate in Ladakh in Rs.999