Name Change in Share Certificate in Rajasthan in Rs.999

The process of Name Change in Share Certificate in Rajasthan takes a long time. Share certificate represents the applicant as an official shareholder. With which they can transfer shares, borrow shares etc.

In some cases, what happens is that the share certificate holder, due for some reason, has changed their name or wants to change their name, so they would also want to change name in the share certificate. People can change name in the share certificate in Rajasthan with the procedure provided here.

Reasons For name change in share certificate in Rajasthan

Major reasons for people change of name in their share certificates include them changing the name in their birth certificate and all the official government documents.

Their name change reasons may include marital status, astrological reasons, personal choice etc. Recently in 2022, approximately 6500 plus people changed their names.

The changed name then has to be changed everywhere after it is changed in the registrar, in all the documents, along with the official papers of the state government.

A name change in share certificates in Rajasthan also comes under the same category. Suppose the share certificate has no name change after the official name change.

In that case, it may cause complications in share transfer and the continuation of financial activities on the share market and may charge you legal duties. The applicant should duly, therefore, act upon the name change in the share certificate in Bhopal.

What is the process of name change in share certificate in Rajasthan?

People in Rajasthan often need clarification about the process of name change in share certificates and feel like the process is quite complicated. Therefore, most of them need to be made aware of the process. The name change procedure involved the following steps:

Step 1. Firstly any person who desires to change their name needs to submit the application to the company or RTA and submit it.

Step 2. Provide them with the documents(along with getting a gazette notification); they ask for the legalities along with the application form and pay the desired amount; they demand stamp paper and stamp duty.

Step 3. Respond to all their faq/faqs honestly as per their inquire.

Step 4. Wait until you get a notification from the company, and then collect the name change in the share certificate.

Most of the process is carried out by government officials. Citizens have to work for the desired documents and gazette notifications in Rajasthan. Major parts of the documents are ordinary and can be found within one person, but apart from them, some documents need to be issued by the government, like affidavits or stamp papers etc.

Documents Required for Name Change in Share Certificate in Rajasthan

Documents required for changing your name in share certificate in Rajasthan

After giving an application to the company, the applicant needs to submit the necessary documents to the government for the name change in the share certificate in Rajasthan. Those required documents are:

A letter of request where the reason of your name change is mentioned.
Copy of marriage certificate or gazette notification which should be attested.
An affidavit
Original share certificate.
Duly notarized copy of address proof (i.e. aadhar card, voter Id, bank passbook, driving license etc.)

These are the major and mandatory documents the applicant needs to submit along with the application form. Then and then the procedure will move further.

The depository participants (DP), meaning the applicant, should securely collect copies of all the documents mentioned above after the original documents are verified.

Now, many people come across this question: what to do if the applicant’s marital status is single and unmarried? Because then they would not have a marriage certificate. For them, they would have to provide an attested gazette notification which brings us to their next question of obtaining the gazette notification process.

Procedure of Name Change in Share Certificate in Rajasthan

How to get a gazette notification for name change in share certificate in Rajasthan?

Anyone who wants to change their name on their share certificate in Rajasthan, must update their name in the official Gazette publication. Here is the procedure for obtaining the gazette notification in Rajasthan:

Step 1. Get an affidavit on the stamp paper of rs. 50, which mentions your reason for the name change.

Step 2. Then send it to get notarized by the local notary public service of Rajasthan.

Step 3. Publish your new name in the form of an advertisement or information section in two newspapers of different languages. One in a regional language and another in the English language.

Step 4. Reach out to the department of gazette publication with two copies of your passport, an attested copy of your pan card and one address proof.

Step 5. The publication department will change your name in the gazette and provide a printed copy of the gazette notification. You will need to pay the charges accordingly. (Near about 1000 rs.)

This is how you can get a gazette notification after your official name change in birth certificate and submit it to the company for your name change in share certificate in Rajasthan.

How much time the process of changing a name takes?

After the above-mentioned procedure is carried out, the department starts doing its work to get your name change in share certificate in Rajasthan.

According to SEBI (Securities and Exchange Board of India) it would take approximately three months for the government to conduct the verification process and final printing of the share certificate.

After that, the applicant can collect his/her newly issued share certificate.

The entire process of name change in share certificate in Rajasthan may take more than three months due to documentation complications or verification process.

Make sure to provide original and genuine documents. Respond accurately to all their faqs and co-operate with the officials in order to not get your name change process delayed.

What if the name change in the share certificate is not carried out?

If the share certificate is lost, misplaced, or even issued late, the holder may face legal consequences. He/she would have to bear the financial loss and pay the penalty fine or legal charges applied to them.

When the name change process of the share certificate is not carried out properly, it may cause a delay in issuing a new share certificate and the delay in the share certificate, as mentioned above, will cost you a penalty fine.

According to subsection (6) of section (56) of the companies act, if any disturbance is made in the provisions of sub-section (1) to (5), the share certificate holder or the people involved along with him may have to pay a penalty fine of rupees fifty thousand (50,000 INR).

Therefore it is necessary that one issues their share certificate with the name change in time. The time limit to issue the share certificate with any updates is within two months.

What is the importance of a newly issued share certificate?

A share certificate holds the capability of transfer of share, investing in a company, buying a share, selling stocks and bonds and all the financial activities going on in the share market.
A share certificate is a legal document that officially verifies your existence and profile in the share market to make you capable of working amongst others.
A share certificate is the only legal proof of your ownership in society, including your shareholding in the stock market.

Henceforth after the name change in share certificate, it is strongly recommended that one as soon as possible conduct the procedure of issuing a newly changed share certificate in Rajasthan.

Because if one fails to do so in the given time limit, as explained earlier, he/she would have to face legal consequences, which include financial loss and charges. Also, they are legal and applicable, abiding by the law, so you can not avoid it easily.

So it is mandatory to issue a share certificate after the name-changing process at its earliest for the continuation of all finance-related activities in society. (E.g. payment of taxes/GST, shareholding and auction etc.)

What to do if you did not get your share certificate issued?

When you apply for a share certificate and you do not get it in the course of fifteen days, then you can legally file a complaint against it. You can file the complaint to the deputy registrar against the society along with all the documents required and letters of recommendation, requests and issues. The complaint will be noted under the bye-law no. 174 (A) (ii) and (iii).

Staying aware about such issues and cases is necessary because they will prove helpful later if you face any such mishap. You secure your future in society by acquiring knowledge of such rules and regulations.

Conclusion

Name change in share certificate in Rajasthan is a three-month-long process, including a lot of documentation and verification. Once you submit the documents and cooperate properly, desired share certificate will be obtained by you.
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How to Name Change in Share Certificate in Rajasthan