Name Change In Share Certificate In Karnataka in Just Rs.999

Are you looking for a Name Change In Share Certificate In Karnataka? You can do this online in Just Rs.999.

India is a country full of people belonging to its different states. Analyzing a person’s name can usually classify them according to their state. A person’s name is what he’s known by, and changing it comes with complex legal formalities.

This article, “How to Name Change in Share Certificate in Karnataka,” will give accurate and detailed information as to how one can change their name on a share certificate in Karnataka.

What is a share certificate?

A share certificate is a well-detailed written legal document that represents one’s shareholding, as in the accurate number of shares held by an individual in a firm, which are duly attested by the organisation to provide the shareholders with a legal proof of their ownership in the company.

These share certificates are also known to their holders by their other name, “stock certificate,” in Karnataka.

Extensive details covered in the share certificate include:

The name of the firm issuing the share certificate.
The complete registered address of the firm
The complete legal name of the shareholder
The number of shares acquired by the individual
The corporate identification number (CIN)
The amount spent by the shareholder to acquire the relevant number of shares
specific number of shares

Documents Required for Name Change In Share Certificate In Karnataka

The essential documents needed for the Name Change In Share Certificate In Karnataka

It is not that difficult to change the name on a share certificate in Karnataka, but before proceeding, one has to make sure they have all the required documents in their bag.

The necessary documents that have to be submitted in this procedure are as follows:

A request letter for name change describing the real reason:

The reason behind changing the name on the share certificate has to be specified and submitted in this letter by the shareholder, as providing the people in control with proper reasoning might help the shareholder.

An affidavit:

This is the document that shall include all the specified reasons for name change and has to be self-attested by the shareholder and duly attested by the respective notary or judicial magistrate.

The copies of the attested newspaper notification:

This is the publication of one’s name in a newspaper as a form of recognition. In such times, one can also use their marriage certificate.

Pan card’s self-attested copy:

The self-signed copy of the shareholder’s pan card.

Address proof self-attested copies duly notarized:

Such documents are mostly driving licences or one’s Aadhar card, which contain the shareholder’s address proof’s self-signed document.

The role of the original share certificate:

The original share certificate, if recovered after the issue, has to be duly returned to the firm, as no forgery shall take place.

Reasons for Name Change In Share Certificate In Karnataka

Here are some of the major reasons for a name change in share certificate in Karnataka:

The changing of names in Karnataka for share certificates is done for many reasons, such as religious beliefs, suggestions from family members, or even when one dislikes their own name because it may sound awful to them.

Several arguments presented for the name change on the share certificate are mentioned below:

Religious reasons:

People often tend to add a letter to the initials of their name as suggested by their numismatist, as it might bring them great fortune. Even so, there are many astrological reasons for such a change.

Gender change:

When a person decides to convert themselves into the opposite gender, they also need to convert their name in order to establish their gender change in society.

Divorce:

When a woman divorces her husband, it is common for her to remove the title shared by his husband in order to free herself from him. Here, the name has to be changed, as she might want to use her original title, which she once used before her marriage.

Marriage:

When a man and woman are married to each other, they often tend to take up the same title or surname, and this makes one change their own surname so as to basically convert their name.

Disliking the name:

Everyone in Karnataka is unhappy with their names and wants to change them for various reasons; one person may dislike the fact that his name is very common, another may dislike the meaning of their name, and yet another may desire a more official sounding name.

Adoption of a child:

When a child is adopted from an orphanage, the parents often tend to give the child his or her title name to make him or her feel that he or she belongs to their family and that they have their own son or daughter with them.

Conditions for issue of share certificate

Some of the conditions that are to be followed in Karnataka during or before the issuing of a share certificate are:

The company provides the investor/individual with a single certificate that must define all of the shares purchased by them at no cost.
If an investor wishes to have more than one share certificate for the shares purchased by them, then an extra amount for providing another share certificate has to be charged by the firm, which amounts to Rs. 20/-.
If there are multiple holders of a share who have jointly held the share, then the firm is not bound to issue more certificates to the joint investors, as one certificate is more than enough.
A process of allotment during the incorporation of a company is a must before issuing any share certificates.
The board verdict has to be given in a board meeting so as to issue any share certificates.

The firm has to follow a formal procedure while documenting the replacement of the certificates. The following are the steps followed by any firm in such times:

Firms should verify the request for the replacement of a share certificate:

Firms must ensure that the request for the replacement of a lost share certificate is genuine and that the reasons for the replacement are justifiable.
The firms even ask the shareholders to look for their share certificates one last time, as the initial stage is also critical and the firms have to be completely assured that the share certificate is lost.
For this, they even send a written letter to the shareholder’s registered address.

The security demanded by the firms from the shareholders:

The firms ask the shareholders to provide them with a signed guarantee that if later the original certificate is found to be misused then loss suffered by the firm would cover by that shareholder.

Involvement of a third party during the indemnity guarantee:

When the firms have a gut feeling that the shareholder cannot be trusted for the indemnity guarantee, here is when banks enter the picture.
Banks provide them with such a guarantee on behalf of the shareholders, further putting the shareholders’ responsibility towards the bank.

Name Change In Share Certificate In Karnataka

The procedure for changing the name in Official Government Gazette Notification

Following are the steps involved in changing the name on a share certificate in Karnataka:

The name change affidavit
Publishing in newspapers
The Indian official gazette’s publication for name change
The application of name changes to share certificates

Stage 1: The name change affidavit

The affidavit must be primarily prepared when a person wants to change their name on the share certificate, which must be submitted to the local notary. All previous names and the reason for the change must be included in the affidavit, along with some other information.

Stage 2: Publishing in Newspapers

After passing Stage 1, the individual must ensure that this is published in two newspapers, one in the local language news paper and the other in English.

The lucrative things to add in the newspaper article are:

Shareholder’s old name
Shareholder’s new name
The date when the change took place
Shareholder’s address
Shareholder’s age
notary’s name by whom the affidavit was attested
shareholder’s father’s or husband’s name

STAGE 3: The Indian official gazette’s publication of the proposed name change

The individual has to now make this publication in the official gazette of India.

Stage 4: The application of name changes to the share certificate

There have been 2 scenarios created here: one is when the shares are issued in Demat form, and the other is when they are issued in physical form.

If shares are in physical form:

The letter to the registrar and the name change reason description have to be given to the share transfer agent.
The documents have to be verified and duly attached.
The letter has to contain the original share certificate.
The letter has to be self-attested.
If shares are in DEMAT form:
Individuals have to visit the site of the organisation to check on their applications.
The application has to be submitted along with documents.