Physical Shares Lost & other DEMAT issues - How to sell shares ? Help appreciated

[dellormicrosoft]

I have physical shares of company XYZ.

The original shares are lost or misplaced. But I do have XEROX copies of the same, with the folio no. and certificate no. etc .

The shares have the following names on them and in that sequence :

My Mother's Name ( Who has passed away long back )
My Brother's Name ( Who lives abroad )
My Name ( But my maiden name is on it )

Please Note : My mother has passed away and My maiden name is on the shares ( not my married name )

1. How do I get these shares replaced ?
2. How do I DEMAT them after getting the new shares ? What DEMAT account should I open and under what names ?

Will a broker like sharekhan help me with all the formalities ? Or do I first have to approach the company or Registrar directly to get the lost physical shares first replaced ?

My brother will sign forms to complete the necessary formalities, so that we get new shares from the company. But I don't think he will open a JOINT DEMAT account in the names of both of us.

So after we get the new replaced physical shares from the company, can I sell them with a DEMAT account with just my name on it ?

Or its mandatory to open an account with BOTH our names on it, since BOTH our names are on the certificate and our mother's name is on it too ( but she has passed away )

What is the easiest and most practical way to go about.

Thank for any help

 

[cloudTrader]

I have physical shares of company XYZ.

The original shares are lost or misplaced. But I do have XEROX copies of the same, with the folio no. and certificate no. etc .

The shares have the following names on them and in that sequence :

My Mother's Name ( Who has passed away long back )
My Brother's Name ( Who lives abroad )
My Name ( But my maiden name is on it )

Please Note : My mother has passed away and My maiden name is on the shares ( not my married name )

1. How do I get these shares replaced ?
2. How do I DEMAT them after getting the new shares ? What DEMAT account should I open and under what names ?

Will a broker like sharekhan help me with all the formalities ? Or do I first have to approach the company or Registrar directly to get the lost physical shares first replaced ?

My brother will sign forms to complete the necessary formalities, so that we get new shares from the company. But I don't think he will open a JOINT DEMAT account in the names of both of us.

So after we get the new replaced physical shares from the company, can I sell them with a DEMAT account with just my name on it ?

Or its mandatory to open an account with BOTH our names on it, since BOTH our names are on the certificate and our mother's name is on it too ( but she has passed away )

What is the easiest and most practical way to go about.

Thank for any help

I suggest you to take help of Advisory on a very popular Financial website called http://www.moneylife.in/

They have Free Helpline Section. You might be able to get answers to your queries. :thumb:

 

[mohan.sic]

I have physical shares of company XYZ.

The original shares are lost or misplaced. But I do have XEROX copies of the same, with the folio no. and certificate no. etc .

The shares have the following names on them and in that sequence :

My Mother's Name ( Who has passed away long back )
My Brother's Name ( Who lives abroad )
My Name ( But my maiden name is on it )

Please Note : My mother has passed away and My maiden name is on the shares ( not my married name )

1. How do I get these shares replaced ?
2. How do I DEMAT them after getting the new shares ? What DEMAT account should I open and under what names ?

Will a broker like sharekhan help me with all the formalities ? Or do I first have to approach the company or Registrar directly to get the lost physical shares first replaced ?

My brother will sign forms to complete the necessary formalities, so that we get new shares from the company. But I don't think he will open a JOINT DEMAT account in the names of both of us.

So after we get the new replaced physical shares from the company, can I sell them with a DEMAT account with just my name on it ?

Or its mandatory to open an account with BOTH our names on it, since BOTH our names are on the certificate and our mother's name is on it too ( but she has passed away )

What is the easiest and most practical way to go about.

Thank for any help

Contact the company registrar ( you can get details from bse website ) and explain the case in detail. They will give you procedure to be followed. And then contact a broker and open the Demat ac accordingly as suggested by registrar.

Don't go by general guidelines. Procedures differ from registrar to registrar.

And they will definitely ask on why a joint demat ac cant opened and you must give a valid reason.

Preferably keep the conversation on mail instead of calling them.

 

[mohan.sic]

I suggest you to take help of Advisory on a very popular Financial website called http://www.moneylife.in/

They have Free Helpline Section. You might be able to get answers to your queries. :thumb:

This is very good option. If the value of shares is reasonable, its better to pay a fee and get the work done.

 

[dellormicrosoft]

Contact the company registrar ( you can get details from bse website ) and explain the case in detail. They will give you procedure to be followed. And then contact a broker and open the Demat ac accordingly as suggested by registrar.

Don't go by general guidelines. Procedures differ from registrar to registrar.

And they will definitely ask on why a joint demat ac cant opened and you must give a valid reason.

Preferably keep the conversation on mail instead of calling them.

:thumb: Thanks. I will contact them.

 

[dellormicrosoft]

Do I have to change the physical address they have in the records base also ?

We no longer live at the old address when the shares were bought.

Plus my brother and I, we are at different addresses now. So which address will they mail the new physical shares ?

 

[deepv]

I have physical shares of company XYZ.
...
What is the easiest and most practical way to go about.

Hi dellormicrosoft,

Could you get your shares transferred and dematerialized?

I am facing similar situation where some shares of earstwhile ICICI (now ICICIBank) were there in my fathers name and he is no more.
The certificates kept lying with my mother among docs, and no action was taken in the meantime.
Recently we found out about these.


Mods/WellKnownMembers ... any suggestions/pointers to informative threads would be welcome!

 

[sabkaview]

I have physical shares of company XYZ.

The original shares are lost or misplaced. But I do have XEROX copies of the same, with the folio no. and certificate no. etc .

The shares have the following names on them and in that sequence :

My Mother's Name ( Who has passed away long back )
My Brother's Name ( Who lives abroad )
My Name ( But my maiden name is on it )

Please Note : My mother has passed away and My maiden name is on the shares ( not my married name )

1. How do I get these shares replaced ?
2. How do I DEMAT them after getting the new shares ? What DEMAT account should I open and under what names ?

Will a broker like sharekhan help me with all the formalities ? Or do I first have to approach the company or Registrar directly to get the lost physical shares first replaced ?

My brother will sign forms to complete the necessary formalities, so that we get new shares from the company. But I don't think he will open a JOINT DEMAT account in the names of both of us.

So after we get the new replaced physical shares from the company, can I sell them with a DEMAT account with just my name on it ?

Or its mandatory to open an account with BOTH our names on it, since BOTH our names are on the certificate and our mother's name is on it too ( but she has passed away )

What is the easiest and most practical way to go about.

Thank for any help

 

[sabkaview]

Hi dellormicrosoft,

Could you get your shares transferred and dematerialized?

I am facing similar situation where some shares of earstwhile ICICI (now ICICIBank) were there in my fathers name and he is no more.
The certificates kept lying with my mother among docs, and no action was taken in the meantime.
Recently we found out about these.


Mods/WellKnownMembers ... any suggestions/pointers to informative threads would be welcome!

 

[sabkaview]

Getting a duplicate share certificate is time consuming ,tedious and expensive process .i may be able to guide you the exact process if details are provided.....please note that last date for transfer of physical share is 05 December 2018....after this date no physical share transfer will be done .