Change Name On Physical Share Certificates In India: A share certificate is also known as a stock certificate. Share certificates are the written documents given to the individual providing legal proof of ownership of the shares they have purchased of a company or corporation. Many reasons can lead to name changes in the physical share certificates of a person.
Whatever the reason, it is strongly suggested that the person update the new name on all essential documents, including shares, Aadhaar cards, voter ID, pan cards, passports, etc. In this article, we are going to share the process of Change Name on Physical Share certificates in India.
What Is a Physical Share Certificate?
A physical share certificate is a document received by the shareholder and given by the corporation whose shares have been purchased.
In today’s modern era, where everything has been made online, physical share certificates are rarely issued because digital share certificates have replaced them.
If your physical share certificate has been lost, destroyed, or stolen, contacting the transfer agent and requesting a “stop transfer ” is strongly suggested. “
Is Changing Name On Physical Share Certificate In India A Challenging Task?
Changing the name on the physical share certificates in India is challenging because it involves a lot of documentation and formalities.
The name-changing process on physical share certificates in India is a legal procedure, and a person desiring to change the name on the physical share certificate in India has to work according to the legal curriculum to change the name.
There can be various reasons which can lead to a need for a name change in physical share certificates in India, and it is a necessary process because it is recommended that one should avoid any complications in the future because of errors in the legal documents of a person.
If you are unaware of the process, then you can take the help of various agencies that provide guidance and assist you throughout the process.
Reasons to change name on physical share certificates
There can be various reasons which can lead to a need to change the name on the physical share certificates.
It is necessary and strongly suggested to change the name in the share certificate( in case of any mistakes) to avoid any complications in the future. These reasons are described below:-
- Religion change
- Not satisfied with the name
- Numerological reasons
- Astrological reasons
- Error in the spelling of the name
- Adoption of a child
- Change of name after marriage
- Wrong entry of the name in the official record.
Documents required to change the name on physical share certificates
To change the name on the physical share certificate, a person needs to attach the necessary documents, which are stated below for your information:-
- Proof of residential address
- ID proof can include voter ID, passport, Aadhaar card, etc.
- A request letter must contain a valid reason for the name change in the physical share certificate.
- Gazette notification or copies of marriage certificates.
- Original share certificate an individual owns.
Process To Change The Name On The Share Certificate In India
You need to follow the guidelines and work according to the legal curriculum followed by the state in which you reside.
To change the name in the physical share certificate, you have to follow a four-step process which is described below:-
- Affidavit Submission
The first and most crucial step to change the name on the physical shares certificates in India includes preparing an affidavit.
An affidavit is a document that contains important details, including your new name, old name, etc. You should also mention a valid reason for changing the name on the share certificate.
It also contains applicant details like residential proof, the applicant’s husband or father’s name, etc.
- Newspaper publication
After preparing an affidavit according to a proper format, the next step an individual needs to follow is to publish an advertisement in the newspaper.
The person deciding to change the name on the share certificate needs to publish the notification of the name change as an advertisement in 2 local newspapers. One advertisement should be published in the regional language, that is, Hindi newspaper and the other should be printed in English.
You must remember to include these details by publishing an advertisement in the newspaper publication:-
- Name of the applicant
- The new name of the applicant
- Age of the applicant
- Full address of the applicant
- A notary who helped you prepare the affidavit.
- Father’s/Husband’s name
It is vital to go through all the details again to avoid any mistake being printed in the newspaper because one mistake can ruin your entire process.
- Gazette Notification
It is then necessary to notify the name change in the official gazette of India after publishing an advertisement in a newspaper. The required documents must be attested along with it.
Send The Following Documents To The Department Of Publication Of Name Change To Change The Name In The Physical Share Certificate In India.
- A hard copy of the affidavit that has to be duly notarized
- Advertisement in the newspaper (Hard copy)
- If you reside abroad, then it is a must to submit the deed.
- A hard copy of the name change form has to be filled out appropriately.
- Two passport-size photographs.
- ID proof ( Aadhaar card, passport, voter ID, etc.)
Applying For Name Change In Share Certificate
The last step for changing the name in your physical share certificates in India is applying for the process.
There can be two possibilities if your shares are in physical form, then:-
- You must draft a letter addressing the registrar and share transfer agent about the reason for changing your name in the share certificate; it should also include your old and new names.
- Make sure to attest all the essential documents.
- Remember to attach the original physical share certificate, the letter, and other documents.
- After preparing the documents, send them.
In case the shares are in the Demat form:-
If the shares are in demat form, then:-
- You must first visit the firm where you have opened the Demat account or without visiting. Also, you can apply for the name change by checking online for the form.
- The form must be filled out correctly.
- Then, attach all the required documents after you have completed the form with the correct information.
- Ensure that the original share certificate is attached to the letter and any other documentation.
- And lastly, submit it.
Physical share certificates are issued by the company to the shareholders who have purchased the company’s shares.
The share certificates provide the shareholders with ownership. Now, most companies prefer to issue digital share certificates instead of physical share certificates because of the advancement in financial technology and techniques.
Due to reasons like marriage, divorce, spelling errors, etc., an individual can initiate the process for a name change in the physical share certificate in India. If you are still getting familiar with the process, you must take the help of various agencies who will guide and assist you.
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Frequently Asked Questions (FAQ)
Q1) Can I change the name on my share certificates?
You can change the name on your share certificates. To perform this change, you must contact the sponsoring broker.
Q2) Are physical share certificates still valid?
Physical share certificates are valid only until 1 April 2023. After this, they will only carry value if converted into demat( dematerialized) form.
Q3) What are some reasons for the name change in the share certificate?
There can be many reasons which can lead to a need to change the name on the physical share certificates in India. These reasons include vastu, marriage, divorce, remarriage, spelling errors, etc.
Q4) Can minors change the name on the physical share certificate in India?
Yes, a minor can change their name on the share certificate.