Shares were bought physically in the earlier periods. Shareholders might be worried about those physical shares on how to carry forward them.
Worry not! We are here to help you to make your physical shares so digital where you can always keep an eye on your shares whatsoever.
Yes, it’s possible. Through Dematerialization, we can make your physical shares into digital ones and record them in your DEMAT accounts. As most shareholders are aware of how DEMAT accounts help each shareholder to enhance their shares with a secure watch, so it is advisable to turn your physical shares to digital/demat shares.
It is wisely recommended to convert your physical shares into digital shares. Our best working team helps you in making your shares digital and so you can track them in your demat accounts.
In the new stock market world, shares are bought and sold in Demat accounts, but earlier stocks and shares are bought in the form of Physical Shares Certificate. Not only the shares but the dividend was also given physically. Even today there are about 3,00,000+ Crores worth of shares in the form of physical mode. To convert Physical shares into Demat there are some procedures to be followed.
SharesRecoveryIndia.com has converted many of its’ customers’ physical shares to Demat. In case of a lost share certificate, misplaced shares certificate, or forgotten shares certificate we at SharesRecoveryIndia.com helped them to apply for duplicate shares certificate and also converted the shares certificate into Demat using the duplicate share certificate even if they do not have any proof of ownership.
Many shareholders or their legal heirs stored their share certificates because they are not aware of the usefulness of the shares certificate. Some of them also lost their shares certificate, for some people the share certificate is available but they died and always had a question on how to claim the shares and dividend. As a result of shareholders or their legal heirs losing or forgetting their shares certificate, a plenty number of shares were transferred to IEPF. Shares that are transferred to IEPF are those dividends that are not claimed or not maintained for 7 years, are called unclaimed dividends and such shares are called unclaimed shares. The dividends that are unclaimed for the period below 7 years can be claimed directly from the company, but the dividends that are unclaimed for the period of more than 7 years are transferred to IEPF.
As per current records, there are more than 3500+ crores of unclaimed dividends. Shares Recovery India team has helped many of its customers recover their dividends and shares from companies and also from IEPF. We understood the issues and answered our customers’ questions like
…and made our customers happy by helping them get their dividends and shares back. We achieved a milestone of recovering the unclaimed shares of 80+ crores worth of shares. For some people or shareholders without their shares certificate, we at Shares Recovery India have always had an alternate process that helped our customers to get their shares and dividends back. Though it is difficult we at the ShareRecoveryIndia.com team have even risked and were able to help the NRI shareholders to get their shares and dividends back into their hands.
For example, an NRI has physical shares certificate in the name of his father who is already dead. He contacted SharesRecoveryIndia.com and explained the situation. We took up the project and helped him in the processes like transmission of shares, and claiming the unclaimed dividend.
There are some cases where many shareholders are transferred from their job or shifted their homes to other places, who have the address registered with the previous address to the company.
For such cases, we helped them to change the address to their current residing location, and then they were able to get the new shares certificate and were also able to claim the unpaid and unclaimed dividends.
Physical Shares of customers are also converted into Demat. In case of lost shares certificate, misplaced shares certificate, or forgotten shares certificate there are some steps to get a duplicate shares certificate.
To get duplicate shares certificate and claim the unclaimed dividends and unclaimed shares, it should be informed about the lost shares certificate, misplaced shares certificate, or forgotten shares certificate in the local police station with the details of folio number, shares certificate number, and the number of shares (including with distinctive shares number), affidavit, indemnity and a 20/- Rs bond paper.
In case of death of the shareholder or lost shares certificate, misplaced shares certificate, or forgotten shares certificate, a shareholder must execute the affidavit and indemnity bond worth 200/- Rs. The bond paper must and should be attested by a legal notary with the registration number of the notary mentioned on the paper.
A stamp should be bought in the name of the shareholder or the investor. The Indemnity bond should contain two witnesses’ signatures with their full names and addresses. And also, two surety persons must sign it with their income proofs like salary slips or income tax assessment papers. A shareholder’s proof of residence Electricity bill/telephone bill/water bill/passport/driving license and bank statement/passbook to be attested by the legal notary and should be submitted to the company.
In case of a signature mismatch, the investor should submit the banker letter attested by the branch manager with a round seal, employee code, and stamp. A request letter signed by the shareholder is also to be submitted to the company with the details of folio number, shares certificate number, number of shares with distinctive numbers, mobile number, and email id of the shareholder.
Dematerialization of shares is very important to every shareholder, who is holding physical shares certificate. It is so important because there will be no choice to lose the shares, less risk of damage, and primarily there will be no paperwork.
SharesRecoveryIndia.com advises you to dematerialize your shares or use your mobile phones to capture the images of physical shares certificates to keep a record of them in case if they are lost.
Once you buy shares in a company, the company gives you a shares certificate. There might be 100 shares you have bought, but if the company gives bonuses or splits to the shares, then the old shares certificate will not have that information but a new shares certificate will have.
For example, A bought 200 shares in TCS Ltd. For that A received a shares certificate in 2008. A transferred to Delhi from Hyderabad by the company where A works. The address of A with the shares is different from the new address. TCS Ltd. issued a bonus in 2012 and split in 2014, but A doesn’t have any information about it. In 2015 A dematerialized only 200 shares. But actually, A owns more than 1000 shares after the splits and bonuses. So, to dematerialize the total number of shares, A has to get a new shares certificate from the company which will have the updated count of the shares.
When you approach a broker with the old shares certificate, they will dematerialize only the shares on the old physical shares certificate, which will lead to losses.
If you approach SharesRecoveryIndia.com with the old shares certificate, we will research the companies using the information on the shares certificate and find out if there are bonuses and splits issued by the company, and dematerialize the actual and updated number of shares you own.
Because it is most important to Dematerialize, many shareholders have converted their physical shares to Demat after knowing the benefits. There are multiple cases where ShareRecoveryIndia.com dematerialized many of its’ clients’ physical shares.
If your shares are in a physical mode that is in the form of physical shares certificate, it is easy to dematerialize the shares.
The old physical shares certificate with you will have only the count of shares when you initially bought the shares. If the company announces any bonus and splits the face value to the shares, the number of your shares will increase. The new shares certificate will have an updated count of the shares.
In such cases, we apply for a new shares certificate, and then if the shareholder holds a Demat account we dematerialize the shares. If not a Demat account can be opened with a few clicks in an hour.
For dematerialization of the physical shares, a DRF (Dematerialization Request Form) should be submitted to the DP (Depository Participant) of the company. Then within 10 days, the company will credit the shares into your Demat account in digital form.
To dematerialize the shares from physical form to digital form, it is mandatory to prove the ownership of the shares to the company.
A physical shares certificate is proof. If the physical shares certificate is lost or theft or burnt, there’s a way to retain it in the form of duplicate shares certificate.
If your physical shares certificate is lost or theft or burnt in any way, we at SharesRecoveryIndia.com help you in applying for a duplicate shares certificate. Using that duplicate shares certificate, we can dematerialize your shares into digital form.
The procedure to Dematerialize the shares in case of lost physical shares certificate is:
After verifying all the details, the company issues a duplicate shares certificate. Using that duplicate shares certificate and DRF form you can request the company for dematerialization of shares. If all documents are clear, the company will credit your shares into your Demat account within 10 days.
If the shareholder is dead and the physical shares certificates are available, the nominee will have the right to dematerialize the shares and take over control of the shares.
For that, the nominee has to produce documents like the death certificate of the shareholder, family member certificate, succession certificate, KYC documents of all family members, no objection certificate, 200 Rs. Bond affidavit to the company and get the shares transferred in the name of the nominee.
Then the nominee can opt to dematerialize the shares into digital form using a DRF form. Then the company will credit the shares into the Demat account within 10 days.
If the shareholder is dead and the physical shares certificate is lost then the nominee can apply for a duplicate shares certificate and follow the above procedure to dematerialize the shares.
SharesRecoveryIndia.com has served its clients in dematerializing their physical shares to Demat. We successfully Dematerialized the shares of our clients worth 20+ crores till date.
If the shareholder is dead and the nominee states no objection then the legal heir or any family member can heir the shares.
To dematerialize the shares of the dead shareholder, the shares should be transferred to the person who wants to heir the shares.
For the transfer of shares, the legal heir or the family member should produce documents like the death certificate of the shareholder, no objection certificates from both the nominee and the family members, legal heir certificate, family member certificate, succession certificate, KYC documents of all the family members, and an affidavit on 200 Rs. Bond.
After verifying all the details, the company will transfer the shares in the name of the legal heir or the nominee.
Then the legal heir or the family member should open a Demat account and opt for Dematerialization of the shares using a DRF form.
If the physical shares certificate is lost and the shareholder is dead then the legal heir or the family member can apply for a shares duplicate certificate if the nominee states no objection. And follow the above procedure to Dematerialise the shares.
Usually, if a shareholder is dead, the nominee will have the right to heir the shares on priority. Then the legal heir will have the next priority to heir the shares. If the legal heir is minor, the shares can be transferred in the name of the legal heir, but the authority on the shares will be with the guardian of the minor.
Shares can be transferred to the minor and can be dematerialized but the authority on the shares will be with the guardian until the minor turns into a major.
SharesRecoveryIndia.com has dealt with many such cases and dematerialized the shares of dead shareholders after transferring them in the name of their legal heirs even if the legal heirs are minor.
We at SharesRecoveryIndia.com have successfully helped many people who approached us to get the shares transferred and dematerialized in case both the shareholder and the nominee.
If both the shareholder and the nominee are dead, the legal heir will have the priority to get control over the shares. The legal heir has to prove the legality in order to heir the shares of the dead shareholder.
To dematerialize the shares of the dead shareholder, the shares should be transferred to the person who wants to heir the shares.
The legal heir must produce documents like the death certificates of both the shareholder and the nominee, the legal heir certificate, succession certificate, KYC documents of all family member certificate, no objection certificate, and an affidavit on 200 Rs bond to get the shares transferred in the name of the legal heir.
After the shares are transferred successfully, then the legal heir should open a Demat account and opt for Dematerialization of the physical shares by submitting a DRF form to the company.
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