Investors

Investor Queries

  • Transfer of Shares

    What is the procedure of transfer of shares in favour of transferee?

    One should send the share certificates along with the Transfer Form i.e. Form SH4, duly filled in, executed and stamped after franking / affixing share transfer stamps at 0.25% market value and every instrument of transfer with the date of its execution specified thereon shall be delivered to the Company within sixty days from the date of such execution.

    Is Permanent Account Number (PAN) for transfer of shares in physical form mandatory?

    SEBI vide its Circular dated May 20, 2009 has stated that for securities market transactions and off-market transactions involving transfer of shares in physical form of listed companies, it shall be mandatory for the transferee(s) to furnish copy of PAN card to the Company/RTA for registration of such transfer of shares. .

    Where should one send the shares for transfer?

    Registration of Share Transfer is carried out only at our Share Registrar's Office i.e. MAS Services Limited, T-34, Okhla Industrial Area, Phase-2, New Delhi - 110020. You will have to lodge the shares, either by personal delivery or through post/reputed courier.

    What is the procedure to convert single shareholding into joint shareholding and joint-shareholding into single shareholding?

    To convert single shareholding into joint shareholding and joint-shareholding into single shareholding, one is required to execute a Transfer Form, duly filled, signed and stamped and submit the same to RTA for transfer. Please note that such conversion of name amounts to change in ownership of shares and the procedure for transfer has to be followed.

    How can the change in order of names (i.e. transposition) be effected?

    Share certificates along with a request letter duly signed by all the joint holders may be sent to the Company’s R&TA for change in order of names, known as ‘transposition’. Transposition can be done only for the entire holdings under a folio and therefore, requests for transposition of part holding cannot be accepted by the Company/ R&TA.

    For shares held in demat form, investors are advised to approach their DP concerned for transposition of the shares the Company.

  • Transmission of Shares

    In case of joint holdings, in the event of death of one shareholder, how do the surviving shareholders get the shares in their names?

    The surviving shareholders will have to submit a request letter supported by an attested copy of the Death Certificate of the deceased shareholder and the relevant share certificates.

    The company on receipt of the said documents will delete the name of deceased shareholder from its records and return the share certificates to the applicant/registered holder with necessary endorsement.

    How to transmit the shares when held in single name with a nominee?

    The Nominee require to submit the following documents::
    • Duly signed transmission request letter.
    • Original or Copy of death certificate duly attested by a Notary Public or by a Gazette Officer.
    • Self attested copy of PAN card.

    How to transmit the shares when held in single name without a nominee?

    The following additional documents sought alongwith above mentioned documents:
    • Affidavit from all the legal heirs made on appropriate non judicial stamp paper – to the effect of identification and claim of legal ownership to the securities.
      Provided that in case the legal heir(s)/claimant(s) is named in the succession certificate or probate of will or will or letter of administration, an affidavit from such legal heir/claimant(s) alone would be sufficient.
    • For value of securities upto Rs. 2,00,000 (Rupees Two lakh only) per issuer company as on date of application, one or more of the following documents:
      • Succession certificate or probate of will or will or letter of administration or court decree, as may be applicable in terms of Indian Succession Act, 1925.
      • In the absence of the documents as mentioned at (i) above,
        • No objection certificate [NOC] from all legal heir(s) executed by all the legal heirs of the deceased holder not objecting to such transmission (or) copy of Family Settlement Deed duly notarized
          AND
        • An Indemnity bond made on appropriate non judicial stamp paper – indemnifying the STA/Issuer Company.
    • For value of securities more than Rs. 2,00,000 (Rupees Two lakh only) per issuer company as on the date of application:
      • Succession certificate or probate of will or will or letter of administration or court decree, as may be applicable in terms of Indian Succession Act, 1925
  • Dematerialisation of Shares

    What is Demat and what are its benefits?

    Dematerialization ('Demat' in short form) signifies conversion of a share certificate from its present physical form to electronic form for the same number of holding.

    It is a direct application of scope provided by the tremendous progress made in the area of Information Technology whereby voluminous and cumbersome paper work involved in the scrip based system is eliminated.

    It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transfers are processed electronically without involving any share certificate or transfer deed after the share certificates have been converted from physical form to electronic form.

    Demat attempts to avoid the time consuming and complex process of getting shares transferred in the name of buyers as well its inherent problems of bad deliveries, delay in processing/fraudulent interception in postal transit, etc.

    Dematerialisation of shares is optional and an investor can still hold shares in physical form. However, as per the directions of SEBI, he/she has to demat the shares if he/she wishes to sell the same through the Stock Exchanges. Similarly, if an investor purchases shares, he/she will get delivery of the shares in demat form.

    The Depositories Act, 1996 has been enacted to regulate the matters related and incidental to the operation of Depositories and demat operations. Two Depositories are in operation - National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).

     
    Benefits of Demat:
    • Elimination of bad deliveries
    • Elimination of all risks associated with physical certificates
    • Immediate transfer / trading of securities
    • Immediate transfer / trading of securities
    • Faster settlement cycle
    • Faster disbursement of non cash corporate benefits like rights, bonus, etc.
    • Lower brokerage is charged by many brokers for trading in dematerialized securities
    • Periodic status reports and information available on internet
    • Ease related to change of address of investor
    • Elimination of problems related to transmission of demat shares
    • Ease in portfolio monitoring
    • Ease in pledging the shares

    What is the procedure of dematerialization of the physical shares?

    First of all one has to approach a DP and fill up an account opening form and follow the Account opening procedure. After opening of Account the person will get a unique Client ID number. Thereafter a Dematerialization Request Form (DRF) should be filled up and submit with physical share certificates to the DP. Such DRF can be obtained from the DP. After dematerialization of these, such shares shall be credited into Demat Account and the DP will hold the shares in the dematerialized form on behalf of the shareholder as Trustee and the shareholder will become beneficial owner of these dematerialized shares.

    Once the shares are dematted, can one ever get them converted into physical shares?

    If a shareholder is holding shares in electronic form, he still has the option to convert his holding in physical form by submitting a Rematerialisation Request Form (RRF) through your DP in the same manner as Dematerialization. Such process is called Rematerialisation of shares. Upon receipt of such request from the DP, the company will issue share certificates for the number of shares so rematerialized.

    I have purchased some shares in paper form. Can I directly give the share certificates to my Depository Participant for dematting them in my favour?

    No, prior to dematting your shares, they have to be registered in your favour. Hence, you have to necessarily lodge the share certificates for transfer in your name, thereafter, you may pursue demat formalities separately.

    Can I pledge my shares in demat form for the purpose of availing any funding/loan arrangement with my bankers?

    Yes, you will have to contact your DP or the lending bank for this.

  • Nomination of Shares

    How do I make a nomination with regard to my shareholding?

    You have to submit a nomination form i.e; Form SH13 duly filled and signed to our RTA. If you are holding shares along with other holders then all the holders will have to sign the nomination form. For making a nomination with respect to dematerialized shares, you will have to approach your Depository Participant (DP). In the account opening form provided by the Depository Participants there is a provision for providing the name of the nominee. You should contact to your Depository Participant for further details.

    The nomination can be made only by individual(s) holding shares singly or jointly. If the shares are held jointly, all the joint holders will sign the nomination form. Non-individuals including a society, trust, body corporate, partnership firm, karta of Hindu Undivided Family and holder of Power of Attorney cannot nominate.

    Do I have to send my share certificates along with the nomination form?

    No.

    How can a nomination once made be cancelled or varied?

    Nomination can be cancelled or varied by nominating any other person in place of the present nominee, by the holder of securities who has made the nomination by giving a notice of such cancellation or variation to the company in Form SH14 once made can be changed.

    Nomination once made can be revoked by a shareholder by giving a fresh nomination in nomination form and revoking the old nomination.

    What is the Benefit of nomination?

    Upon the death of a shareholder, the Nominee, to the exclusion of any other legal heir/beneficiary, is the only person in whom the shares vest. In other words, in case of a valid nomination, the company will not entertain any claim from legal heirs or beneficiaries and the shares will be transmitted only in favour of the Nominee.

    In case if the nomination is made by joint-holders, the nomination will come into play only upon the death of all the joint holders. Therefore if one of the joint shareholders dies, the shares will devolve on the surviving shareholders to the exclusion of the Nominee. In this case the surviving shareholders may make a fresh nomination if they so desire as mentioned above.

    What is the effect of nomination upon transfer of shares?

    Upon transfer of shares, nomination stands revoked.

    What is the procedure for the nominee to get the shares registered in his name?

    Upon death of a shareholder, the nominee is entitled to have the shares transmitted in his favour. He/She will have to submit the following documents:
    • Duly signed transmission request letter
    • Original or Copy of death certificate duly attested by a Notary Public or by a Gazette Officer.
    • Self attested copy of PAN card.

    Upon scrutiny of the documents submitted by the nominee, shares will be transmitted in his favour and share certificates returned to him duly endorsed.

    Does a valid nomination overrides will/any other testamentary instrument?

    Yes, a valid nomination overrides will/any other testamentary instrument

  • Change of Address

    If there is a change in my address what is the procedure to get it recorded with the company?

    A request letter giving the details of new address and pin code together with all required documents should be sent to our RTA. The letter should be signed by the sole shareholder and in case of joint shareholding by all the shareholders.

    Request letter for change in address can be downloaded from our website.

    Can there be multiple addresses for a single folio?

    No, there can be only one address for one folio.

    If the shares are in demat mode, what is the procedure for change of address?

    Since the Depository Participant (DP) maintains the records of all the shares in electronic form, therefore any information pertaining to the change in address needs to be furnished to the respective DP. The said DP will then pass on this information to the Company as and when required for any communication.

  • Change of Signature

    If there is a change in my signature what is the procedure to get it recorded with the company?

    For making change in signature the shareholder is required to provide the following documents to our Registrar and Transfer Agent (RTA) – Request letter for change in address with necessary documents required for proof of identification and proof of address Affidavit on an appropriate Stamp Paper

    Request letter for change in signatures and Affidavit for change in signatures can be downloaded from our website.

    If the shares are in demat mode, what is the procedure for change of signature?

    In case shares are held in dematerialized form, you need to submit your request for change of signature to your depository participant, along with the necessary documents as may be required by your depository participant. Please check with your DP for further details.

    If the shares are in demat mode, what is the procedure for change of addres?

    Since the Depository Participant (DP) maintains the records of all the shares in electronic form, therefore any information pertaining to the change in address needs to be furnished to the respective DP. The said DP will then pass on this information to the Company as and when required for any communication.

  • Dividend

    In case of non-receipt of dividend, what action do I take?

    You may please write to the RTA furnishing the particulars of the dividend not received and also quoting your folio number/client ID particulars (in case of dematerialized shares). We will check our records and issue duplicate dividend warrant if the dividend remains unpaid in the records of the company.

    What is the procedure for obtaining a duplicate dividend warrant?

    If the validity period of the lost dividend warrant has not yet expired, you will have to wait till the expiry date since no duplicate can be issued during the validity of the original warrant. However after the expiry of the validity period, if the dividend warrant is still shown as unpaid in our Bank Statement, we shall issue a duplicate warrant to you expeditiously.

    Why do the shareholders have to wait till the expiry of the validity period of the original warrant? Couldn't you issue stop payment instructions to the bank for the original warrant and issue a duplicate immediately?

    Since the dividend warrants are payable at par at almost 100 centres all over the country, it is not practically possible for the banks to issue stop payment instructions and it is therefore necessary for us to wait till the validity of the original warrant has expired.

    Can I claim the old dividends relating to past years that have not been received by me?

    As per the present law, the company is retaining all unpaid/unclaimed dividends for the past seven years. If you have not received any of these dividends, you may please write to the RTA with relevant particulars like folio number, concerned dividend, etc., and we shall arrange to pay the dividend if it remains unpaid in our records.

    In order to protect against fraudulent encashment, I want to incorporate/update/change the details of my bank account in my dividend warrant. What is the procedure that I should follow?

    If you are holding shares in physical form, please give your folio number, details of name, of your bank and account number to our RTA and we shall incorporate the same in all your future dividend warrants. However, if you are holding the shares in demat form, such details will have to be given to your Depository Participant with whom you have a demat account. Your Depository Participant in turn will pass on this information to the company.

    Can I authorise my bank or any other person to receive dividends on my behalf?

    Yes, you will have to write to us furnishing the name and address of the authorised person/bank and your folio number and we shall record your instructions accordingly and dispatch the warrant to the mandatee. Please note that this procedure is applicable only if you are holding shares in physical form.

    Why can't the company take on record the bank details in case of dematted shares?

    As per the Depository Regulations, the company is obliged to pay dividend as per the details of demat shareholders furnished by the concerned Depository Participant. The company cannot make any change in such records received from the Depository.

    What is National Electronic Clearing Service (NECS)?

    Under this system, you can receive your dividend electronically by way of direct credit to your bank account. This avoids a lot of hassles like loss/fraudulent interception of dividend warrants during postal transit. This also expedites payment through credit to your account compared to dividend warrants in physical form. We would strongly recommend that if you have not already opted for National Electronic Clearing Service, you may please do so.

    Is the NECS facility available across the country?

    The Reserve Bank of India has introduced NECS to bring in further efficiency and uniformity in electronic credit and has instructed the banks to move to the NECS platform. In terms of a notification issued by the Reserve Bank of India, with effect from 1 October 2009, remittance of Dividend through ECS is replaced by National Electronic Clearing Service (NECS). Banks have been instructed to move to the NECS platform.

    The advantages of NECS over ECS include faster credit of remittance to beneficiary’s account, wider coverage with no limitations of location in India besides ease of operations for remitting agencies..

    NECS, for the purpose of centralised processing of instructions and efficiency in handling bulk transactions, is operational only for banks / bank branches leveraging on Core Banking System (CBS), which provide ten or more digit bank account numbers to its customers.

    How can I avail of the National Electronic Clearing Service (NECS) facility?

    Shareholders who wish to avail the NECS facility should therefore send the new bank account numbers, allotted by banks post implementation of CBS, to our RTA by filling up the NECS Mandate Form where shares are held in physical form.

    In case shares are held in demat form, the shareholder should contact to its Depository Participant to avail this facility.

    NECS Mandate form can be downloaded from our website.

  • Loss of Share Certificates

    I have lost/misplaced my share certificates. What are the steps that I should take to obtain duplicate share certificates?

    In this connection, please execute and submit the following documents to enable us to issue duplicate shares certificate(s).
    • Wherever value of loss of shares as on the date of execution of indemnity/ affidavit is less than Rs. 10,000, reckoned on the basis of the closing price at any one of the recognised Stock Exchanges, following documents are required:
      • Certified copy of FIR regarding lost/misplace shares and the same should be in English version only duly mentioned shares details.
      • Affidavit & Indemnity bond on an appropriate Non Judicial Stamp Paper should be notarised and signed by all shareholders.
    • Wherever value of loss of shares as on the date of execution of indemnity/ affidavit is Rs. 10,000 & above, reckoned on the basis of the closing price at any one of the recognised Stock Exchanges, following documents are required:
      • Certified copy of FIR regarding lost/misplace shares and the same should be in English version only duly mentioned shares details.
      • Affidavit & Indemnity bond on an appropriate Non Judicial Stamp Paper and should be notarised and signed by all shareholders.
      • Advertise the lost shares in any leading news paper furnishing the details of lost shares and send us the original copy of the same.

    What action should I take if I retrieve the original share certificate, which I had reported to be lost to the company?

    Please surrender the original share certificate to the RTA immediately if the duplicate share certificates have been issued. However, if the original share certificates are found before you comply with the procedure for obtaining duplicate share certificate, please inform to our RTA immediately so that we can take immediate suitable action.

 

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