Name Change In Share Certificate In Kolkata

The process of Name Change in Share Certificate in Kolkata is very lengthy; however, you can do it sitting at home, so read this article carefully to learn how.

Your name is an essential element of your identification; thus, ensuring it is accurate on all official papers, such as your share certificate is crucial. Although changing your name on the share certificate may seem difficult, doing so is essential to avoid any potential legal issues and keep your information current.

Similar to many other Indian cities, Kolkata has particular steps that must be taken in order to change your name on the share certificate. This article will walk you through changing your name on your share certificate in Kolkata, including the paperwork needed and what to do next.

Reasons For Name Change in Share Certificate in Kolkata

Reason Behind Name Change in Share Certificate in Kolkata:

A person can need to change their name on their share certificate for a number of reasons. The most frequent causes include union, separation, or any lawful name change. To prevent legal problems, the name on the share certificate must coincide with the name on the relevant legal documents.

Marriage: Changing a person’s name on a share certificate is most frequently done for this reason. A person who marries may adopt their spouse’s last name as their new last name.
Divorce: Changing the name on a share certificate may also be necessary due to a divorce. After a divorce, a person can decide to use their old last name again.
Legal Name Change: A person may also decide to legally alter their name for a number of reasons, including inclination or religious convictions. All legal papers’ names, including the share certificate, should be changed in such circumstances.
Correction of Name: In some cases, the name listed on the share certificate must be updated because it was written incorrectly or misspelled.
Adoption: If a child is adopted, their name may be altered to reflect their new parents’ last name, which may necessitate changing the name on their share certificate.

Documents required for Name Change in Share Certificate in Kolkata

You will need to submit appropriate documentation in order to modify your name on your share certificate. The list of papers could change based on the circumstances. Nonetheless, you will typically need to provide an affidavit, a gazette notice, and other pertinent documents.

The applicant’s former name and new name and the reason for the name change should be listed in the affidavit. A formal name change announcement, the gazette notification, must appear in the official Indian Gazette. Here is the list of the following documents required for name change:

Updated Identification Proof:

One of the most crucial papers you must provide is updated identity evidence, such as your PAN or Aadhar card with the new name.

Affidavit:

An affidavit is a legally binding statement that attests to the name change and its reason. It should contain information including the applicant’s old name, their new name, and the cause for the name change.

Gazette Notification:

Publish in the official Indian Gazette, a Gazette Notification is a formal declaration of a name change. It confirms the legal legitimacy of the name change and is a significant document.

Marriage Certificate or Divorce Decree:

If the name change results from a marriage or divorce, you must present a certificate or decree as evidence of the change.

Bank Statement or Utility Bill:

You might also be required to submit a bank statement or utility bill bearing the new name in order to prove proof of address.

What is a share certificate?

A share certificate is a formal record that attests to the possession of shares in a corporation. As evidence of ownership, the corporation issues it to the shareholder. The shareholder’s name, the number of shares they own, and the issue date are all listed on the share certificate. Your share certificate should always be kept secure because it is used to prove ownership and facilitate share transfers.

How Can I Get a Duplicate Share Certificate?

You can get a duplicate share certificate. You must submit an application in writing to the company’s registrar in order to get a duplicate share certificate. If applicable, a self-attested copy of an FIR and information about your shares should be included in the application. The corporation may also charge you a price for issuing the duplicate share certificate.

Depository Participant: If you’ve misplaced your original share certificate, you should immediately contact your stockbroker or depository participant. They can aid in directing you as you go about getting a duplicate share certificate.
FIR Copy: It’s crucial to report a loss or theft of the share certificate to the police and submit a self-attested copy of the FIR together with the request for a duplicate share certificate.
Details of Shares: When registering shares, it is important to provide the registrar with complete information, including the company name, share certificate number, and share folio number.
Time Period for Issuing Duplicate Share Certificate: Depending on the steps taken by the company’s registrar, the time frame for providing a duplicate share certificate may change. Follow up with them frequently to ensure the duplicate certificate is issued on time.
Fees for Issuing Duplicate Share Certificates: Depending on the company’s policy, a fee may be associated with issuing a duplicate share certificate. It is crucial to examine the costs in advance to prevent any surprises.

Procedure to Name Change In Share Certificate

Procedure Of Name Change in Share Certificate in Kolkata

You must follow a particular process in order to alter your name on a share certificate. The actions to take are as follows:

The applicant’s former and new name should be listed on an affidavit detailing the rationale for the name change.
Create a Gazette notification that the name has changed. The announcement must be made public in the Indian government’s official Gazette.
Send the original share certificate, the affidavit, and the gazette notice to the company’s registrar.
A new share certificate with the revised name will be issued after the company’s registrar verifies the documents.

What exactly is a demat account?

Investors can monitor their investments online and get electronic statements with a demat account, lowering the danger of losing or damaging physical share certificates. Also, it decreases transaction costs and the need for paperwork.

A Depository Participant (DP), who serves as a go-between for the investor and the depository, manages the demat account. All of the securities stored in the demat account are kept on file by the depository, which also settles transactions by debiting or crediting the account in accordance with the transaction.

Demat accounts are governed by the Securities and Exchange Board of India (SEBI) in India in order to safeguard investors and promote market transparency. Overall, managing your digital investments through a demat account is simple and secure.

How to publish Gazette notification?

You must carry out the following steps in order to publish a Gazette Notice declaring the name change:

Get an affidavit indicating the applicant’s former name, new name, and the cause for the name change.
Ask a notary to notarize the affidavit.
Make a notification declaring the name change for publication in the India Gazette. The applicant’s previous and new names must be mentioned in the notification.
Send the affidavit and the notification to the Department of Publication after having them notarized.
The documents will be checked by the Department of Publication before the notification is published in the Indian Gazette.

Benefits of Name Change in Share Certificate in Kolkata

Changing your name on your share certificate has various advantages. The name on your share certificate must match the name on your legal documents, which aids in preventing any legal problems. Additionally, it facilitates the transfer of shares and offers clarity in the event of an inheritance or sale.

Prevents lag time and mistakes in financial transactions.
Complies with rules requiring accurate shareholder names and addresses to be recorded.
Prevents identity theft and fraud.
Increases shareholder rights and share accessibility.
Creates a sense of trust with the business and other shareholder.

Conclusion:

It may appear difficult to change your name on your share certificate in Kolkata. But, it can be completed fast and effectively if the correct paperwork is provided and the required steps are taken. To prevent legal issues, you must make sure that the name on your share certificate and the name on your legal documents are identical.

Don’t forget to take the relevant steps, such as alerting your broker or depository participant of the name change and, if necessary, changing your bank account information. You can avoid delays and mistakes in financial transactions, adhere to regulations, stop fraud, and increase accessibility to your shares and shareholder rights by changing your name on the share certificate.