What to do when you want to Name Change in Share Certificate in Jammu & Kashmir. A share certificate in Jammu and Kashmir is a document that serves as proof of ownership of shares in a company. It typically contains information such as the number of shares owned, the company’s name and registration number, and the name of the shareholder.
Shareholders use these certificates to show their ownership of shares in a company and can use them as collateral for loans or to vote in company meetings. In other words, a share certificate is the proof of issue of shares to a shareholder.
In Jammu and Kashmir, if a shareholder wants to change their name on their share certificate, they will need to follow a specific process outlined by the company and the Securities and Exchange Board of India (SEBI). A person needs to produce certain documents to get their Name Change in Share Certificate in Jammu & Kashmir.
Process of obtaining a Share Certificate in Jammu and Kashmir
Obtaining or owning a share certificate in Jammu and Kashmir involves the following steps:
Invest in a company:
The first step in obtaining a share certificate is to purchase shares in a company. This can be done through a stockbroker or a demat account.
Open a demat account:
To purchase shares in a company, you will need to open a demat account, which is an account that holds shares in electronic form.
Apply for shares:
Once you have a demat account, you can apply for shares in a company through the stockbroker or directly through the company’s initial public offering (IPO) or secondary market offerings.
Receive the share certificate:
Once your application for shares has been accepted and the shares have been allotted, the company will issue a share certificate in your name.
Safekeeping the certificate:
It’s important to keep the share certificate in a safe place, as it serves as proof of ownership of the shares.
In case of a change of address or name, the shareholder will have to inform the company’s registrar and transfer agent (RTA) through a written request with necessary documents in regard with the correction or change and wait for the process to be completed and the updated certificate to be issued.
Documents Required for Changing Name in Share Certificate in Jammu and Kashmir
When an individual wishes to change name in Share Certificate in Jammu and Kashmir, they will be required to provide certain documents to the company. The specific documents required may vary depending on the company, but generally, the following documents are required to Name Change in Share Certificate in Jammu & Kashmir.
Original Share Certificate:
The individual must provide the original share certificate issued that they wish to have the name changed on. This is to ensure that the company can verify the authenticity of the shares and make the necessary changes.
Affidavit for Change of Name:
An affidavit for change of name must be provided by the individual. This document is a legal declaration that the individual is changing their name and that the new name is their legal name. It should be signed by the individual in front of a notary public.
Deed Poll/ Gazette Notification:
A Deed Poll or Gazette Notification is a document that officially notifies the government of the name change. This document is usually issued by the government and should be provided to the company as proof of the name change.
Identity Proof:
The individual should provide valid identity proof such as an Aadhar Card, PAN Card, or Passport. This is to confirm the identity of the individual and ensure that the shares are being transferred to the correct person.
Address Proof:
The individual should also provide a valid address proof such as an Aadhar Card, Voter ID, or Passport. This is to confirm the address of the individual and ensure that the shares are being transferred to the correct address.
Proof of Marriage:
If the individual is changing their name due to marriage, they should provide a marriage certificate or Gazette Notification as proof. This will confirm that the individual has legally changed their name due to marriage.
Any other relevant document:
The company may require additional documents as per their policy or as requested by the company. This could include proof of the individual’s occupation, income, or other financial details.
It’s important to note that the process for changing the name on a share certificate can vary depending on the company. Some companies may have a different set of requirements or may require additional documents.
Therefore, it’s recommended to contact the company directly to confirm the specific documents required. It’s essential to check with the company for their specific requirements and have all the documents ready before submitting the application for name change.
Step-by-step procedure of Name Change in Share Certificate in Jammu and Kashmir
The process of changing the name on a share certificate in Jammu and Kashmir typically involves the following steps:
Gather the necessary documents:
Collect all the required documents, including the original share certificate, an affidavit for change of name, Deed Poll/ Gazette Notification, identity proof, address proof, proof of marriage, and any other relevant documents as per the company’s policy. Make sure you have a copy of every documents for further reference.
Contact the company:
Contact the company and inquire about the process for changing the name on a share certificate. The company will provide you with the necessary forms and information on how to proceed.
Fill out the application form:
Fill out the application form provided by the company, providing all the necessary information, including the reason for the name change, the new name, and the current name.
Submit the documents:
Submit the application form along with all the necessary documents to the company.
Pay the fee:
The company will charge a fee for the name change. Pay the respective fee as per the company’s policy. The method of payment accepted by the companies may differ and depend on the particular company, it’s policies, the nature of transaction, etc.
Wait for the process to complete:
The company will process the application and verify the documents. This may take a few days or weeks, depending on the company’s policy.
Receive the new share certificate:
Once the name change process is complete, the company will issue a new share certificate with the updated name.
Update your other documents:
Once you receive the new share certificate, it’s important to update your other documents, such as PAN Card, voter ID, passport, and bank accounts, with the new name.
The above-stated procedure is a generally prescribed one, and the process for changing the name on a share certificate can vary depending on the company and registrar office’s policy. One of the necessary conditions to changing name in share certificate is that you should register with the company or you should already hold certain shares of the company.
Reasons for changing name in Share Certificate in Jammu and Kashmir
There are several reasons why someone might Name Change in Share Certificate in Jammu and Kashmir:
Transfer of shares:
If a person wants to transfer their shares to someone else, they will need to change the name on the certificate to reflect the new owner.
Change of name due to marriage or divorce:
If a person gets married or divorced and changes their name, they may need to update the name on their share certificate to reflect their new name.
Correction of name spelling:
If the name on the share certificate is spelled incorrectly, the holder may want to change it to the correct spelling.
Legal name change:
If a person has legally changed their name, they will need to update the name on their share certificate to reflect their new name.
Succession:
In the event of the death of the shareholder, the legal heirs would need to update the certificate with their name to have a legal claim on the shares.
Business reasons:
If a company is merging with another company or if the company is being restructured, the shareholders may be required to change the name on their share certificates to reflect the new ownership structure.
Process to Change Of Name in official Gazette
Here is the complete procedure of change name in Official Gazette, after this anyone can do Name Change in Share Certificate in Jammu and Kashmir.
STEP 1 – PREPARE AN AFFIDAVIT
To change a person’s name on their passport in Hyderabad, he or she must present an affidavit in the proper format that contains the following information:
- An applicant’s old and new names, as well as their contact information.
- The address of the applicant.
- Reason for name change
- To be valid, affidavits must be printed on stamped paper and notarized.
Step 2 – ADVERTISING IN THE NEWSPAPER
The new name should be advertised in newspapers. Two local newspapers should be informed about the name change, and one English newspaper is preferred.
Step 3 – NEW NAME IN GAZETTE BOOK
After publication in the Newspaper, the name should now be published in the official government gazette. A name change in the Gazette depends on the level of public notice desired.
Benefits of legally changing name on Share Certificate in Jammu and Kashmir
There are many benefits to legally changing the name on a share certificate in Jammu and Kashmir, including:
Legal ownership:
Changing the name on a share certificate legally establishes the new holder as the rightful owner of the shares.
Transfer of assets:
Changing the name on a share certificate allows for the transfer of assets, such as shares, to a new holder.
Updated record:
Changing the name on a share certificate ensures that the company’s records are up-to-date and accurate.
Avoid disputes:
Changing the name on a share certificate can help to prevent disputes over ownership of the shares.
Legal compliance:
Changing the name on a share certificate can help the shareholders to meet legal requirements related to ownership of shares.
Facilitation for dividend and voting rights:
Shareholders with updated share certificates can easily claim their dividends and exercise voting rights if the company holds AGM.
A brief summary of the process of Changing name in Share Certificate in Jammu and Kashmir
The process of changing a name on a share certificate in Jammu and Kashmir requires several steps. The shareholder must furnish necessary documents, including a deed of name change, affidavit, and Gazette notification within the prescribed time, and should authorize the change.
The change must be published and attested by a tehsildar, and the Secretary of the company must provide consent. The change must be registered in the register of members. The change can be made online using a platform but the original documents must be submitted to the company’s registered office.
The change will take effect 30 days from the date of informing the company. The shareholder may approach the company or a financial services provider for any queries. One can also seek any professional advocate for the purpose.
Conclusion
Changing the name on a share certificate in Jammu and Kashmir involves obtaining various documents and submitting them to the registrar of the company. The process is typically required when shares are being transferred, when a person has changed their name due to marriage or divorce, or when a correction needs to be made to the name on the certificate. The shareholder must obtain a legal license to change their name on the share certificate.
Changing the name on a share certificate can provide legal ownership, transfer of assets, updated records, avoid disputes, legal compliance, and facilitate dividends and voting rights for the new holder. It is important to follow the company’s rules and policy and the registrar office’s process to ensure a smooth and efficient process.
After changing the name on a share certificate in Jammu and Kashmir, the new holder must verify that the name on the certificate is correct and that all the information is accurate. After the new and updated share certificate is issued, they should also update their records and inform any relevant parties, such as banks or other financial institutions, of the change.
Also Read:
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- How to Name Change in Passport in Chennai?
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- How to change name in birth certificate in Himachal Pradesh?
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- How to Name Change in Birth Certificate in Thiruvananthapuram, Kerala.
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