In the earlier days, when shares are bought physically from a company, the company gives a physical shares certificate as proof of ownership of the shares. That certificate is called a Shares Certificate or Stock certificate. This is kept safe by the shareholders in their households. But there are many reasons for a shares certificate to be lost. A physical share certificate is useful in different ways. It can be used to dematerialize the physical shares into Demat, claim the unclaimed dividends from IEPF, etc.
A physical shares certificate may be lost while carrying it, or it may be burnt in a fire accident. If you lost your physical shares certificate, you can ask for a duplicate shares certificate. After verifying the details, the company will issue a duplicate shares certificate. The process might look simple but it is not simple as it looks.
SharesRecoveryIndia.com has an expert team who helped 1000+ clients to get a duplicate shares certificate. While processing for duplicate shares certificate, we encountered many challenges but that doesn’t stop us from achieving our goals.
Different cases have different solutions. Here are a few cases to which you can relate to your situation.
Physical shares certificate acts as proof of the ownership of the shares owned by the shareholder. Due to some circumstances, a physical shares certificate might be lost, misplaced, forgotten, or burnt.
As we at SharesRecoveryIndia.com are leading service consultants in Hyderabad for recovering shares and dividends from IEPF, duplicate shares certificates, and converting physical shares to Demat, a person contacted us on a friend’s suggestion. He owns shares in Amara Raja Batteries Ltd. He bought the shares in the form of a physical shares certificate. As per the information, we came to know that he lost his shares certificate in a fire accident. And also, he stated that the dividend was not claimed for a longer period. With few details, our team researched and found that the shares have been transferred to IEPF (Investors Education and Protection Fund).
As the main proof of the ownership of the shares is lost, the duplicate shares certificate is mandatory to claim the shares and the dividends from IEPF. We only had a dividend cheque as proof. With that dividend cheque, we started the process for a duplicate shares certificate. As a priority, we suggested him to lodge a complaint in the judicial police station and get an FIR copy.
As soon as we got an FIR copy, we applied for the duplicate share certificate by submitting the following documents Folio number, a cancelled cheque leaf, Address proof of the Shareholder, Share certificate number, PAN card, Aadhaar card, E-mail id & Mobile number.
Few clients who contacted us to get a duplicate shares certificate showed their presence and got the duplicate shares certificate easily and faster. But few clients contacted us for a duplicate shares certificate but moved to other locations as per professional requirements. Unfortunately, their shares were transferred to IEPF because the documents from our clients were delayed and they were absent when required.
So, we advise you to be present when required by us for processing to get a duplicate shares certificate to get it faster into your hands.
When a person buys shares from a company, he is called a shareholder of the company. In earlier days shares were bought in the form of physical shares certificate. If the shareholder dies, the shareholder’s nominee or legal heir should inform the company about the death and also about the lost share certificate, misplaced share certificate, and forgotten share certificate through an e-mail or a letter to the company. If the shareholder adds a nominee to the shares certificate, then the nominee is eligible to apply for a duplicate shares certificate and can request for transfer of shares.
SharesRecoveryIndia.com has helped many of its’ clients who contacted to get the duplicate shares certificate in case the shareholder or investor is dead.
One of our clients approached us to get a duplicate shares certificate and to claim the unclaimed shares and unclaimed dividends.
As we got into details, Mr. Subba Rao bought 300 shares in the form of physical shares certificates from the company TCS Ltd. in the year 2004. He misplaced and lost his physical shares certificate in the year 2009. The dividends for the shares were stopped from claiming since Subba Rao got sick and bedridden in the year 2011. Unfortunately, Subba Rao died in the year 2014. Because the dividends were not claimed for 7 years continuously, the shares and the dividends were transferred to IEPF in the year 2019.
But TCS Ltd. issued a bonus in the ratio of 1:1 in the year 2006 and the shares became 600. In the same way, TCS again issued a bonus to the shares in the ratio of 1:1 in 2009 and 2018. That means the shares totally added up to 2400. The total value of the shares as of the year 2018 was 50 lakhs INR.
His wife Mrs. Devi approached us and asked us to deal with the case and recover the shares and the dividends from IEPF so that she could claim them. But the main proof of the ownership is lost, we applied for a duplicate shares certificate. To apply for the duplicate share certificate, we required a few documents like the death certificate of the investor, PAN card of the family members, Succession certificate, Attested signature by the banker of the successor, Address proof of the successor, Folio number, Address of the Shareholder, nominee, or legal heir, Share certificate number, PAN card of the nominee, Aadhaar card of the nominee, E-mail id & Mobile number of the nominee.
As required, she submitted the documents and we started the process of applying for a duplicate shares certificate. As soon as we got the duplicate shares certificate, we successfully recovered the unclaimed shares and the unclaimed dividends from IEPF. Then Mrs. Devi claimed the unclaimed dividends and we transferred the shares to her name.
Generally, shareholders are given an option to add a nominee to the shares physically. Most of the shareholders or investors used the opportunity and added nominee information while buying the shares in the form of physical shares certificates. Few shareholders did not use the opportunity and did not add the nominee information.
If the nominee is added to the shares, it can be easy to get a duplicate shares certificate in the place of the lost, misplaced, burnt, or forgotten original shares certificate in case the shareholder or investor is dead. It is a difficult and lengthy process to get a duplicate shares certificate for a nominee when the nominee information is not added to the shares.
But if both the shareholder and the nominee are dead, the legal heir or the family will be eligible to apply for a duplicate shares certificate.
SharesRecoveryIndia.com has an expert team that deals with cases that are related to duplicate share certificates.
We are very successful in helping our clients get duplicate shares certificates in case both the shareholder and nominee are dead. There are two types to get a duplicate shares certificate:
Shares are transferred to IEPF if the dividends are not deposited for 7 years and more. If the shareholder and the nominee are dead and there is no original shares certificate, it is a very long process to get a duplicate shares certificate from IEPF.
The case that we solved might be helpful to you to understand the typical process to get a duplicate shares certificate from IEPF.
The legal heir of a shareholder has contacted us and given us an opportunity to deal with the case. As per his information, his father is a shareholder with 500 shares in Reliance Industries Ltd. since 2004 and the nominee for the shares was his mother. Unfortunately, they both died. And the physical shares certificate was also lost. He has only a dividend cheque in his father’s name as proof.
Using that little information on the dividend cheque, we researched and found that the total shares with the bonuses issued by the company are 2000 and those shares were transferred to IEPF. As said, we have an expert team that rigorously worked with IEPF and got a duplicate shares certificate. And then we processed further so that our client could claim the unclaimed dividends and get the shares back in his name. We used documents like dividend cheques, KYC documents, death certificates of both the shareholder and the nominee, no objection certificate from the family members, legal heir certificate, and succession certificate for the process of transfer of shares.
This process is as same as the process of getting a duplicate shares certificate for the shares transferred to IEPF. But it is less complicated than that process. For this process, we directly contact the company and get the duplicate shares certificate.
After we get the duplicate shares certificate, you can opt for transferring the shares and claiming the unclaimed dividends, and for that, we require dividend cheques, KYC documents, death certificates of both the shareholder and the nominee, no objection certificate from the family members, legal heir certificate, and succession certificate.
This is also a typical case that consumes much time. If the shareholder is dead, then the legal heir of the shareholder can heir the shares if there is no objection stated by the nominee.
ShareRecoveryIndia.com dealt with 50+ cases that are related to the lost shares certificate of the shares of the dead shareholder.
If the legal heir is a minor and the shareholder is dead, here’s how we deal with such a case.
A person is a shareholder in the company Wipro Ltd. He lost his physical shares certificate while his home was robbed. Later he met with an accident and passed away. His wife, who is a nominee for the shares approached us with a dividend statement and ask us to get the shares registered to their legal heir who is a minor.
We used the information on the dividend statement and applied for a duplicate shares certificate. Also, we were able to transfer the shares in the name of the minor, only when the nominee submitted a no objection certificate.
There are cases that we solved even if the shares were transferred to IEPF. The process will be more typical, and lengthy to get a duplicate shares certificate for a minor if the shareholder is dead.
Most of the investors or shareholders are employees in their respective organizations. When the shares are bought physically proof is residence is mandatory to provide. But due to requirements in the job or business shareholders move to a new address. In that case, the new address will be different from the address that is registered on the physical shares certificate while buying the shares.
If you update the new address to the shares in the company, you can receive the dividend cheques at the new address. But if you do not update the new address, you cannot receive dividend cheques and it may cause the shares to be transferred to IEPF.
At SharesRecoveryIndia.com, 75% percent of the cases are related to the shares that are transferred to IEPF because of the address change.
If you lost your physical shares certificate in the old address and you are currently living at a new address, then we suggest you make changes and update the new address with the shares.
If the shares are live with the company, you can directly contact the company you invested in to update the new address and then apply for a duplicate share s certificate.
If the shares are transferred to IEPF, it is a long process to get the new address to be updated and to get the duplicate shares certificate.
SharesRecoveryIndia.com can help you to get the duplicate shares certificate from IEPF. We have a good track record of making updates on the new addresses of our clients and getting duplicate shares certificates from the IEPF.