Transfer of Shares
Shareholders holding shares in the physical form are required to send share certificate(s) along with the share transfer deed in the prescribed Form 7B, duly filled in, executed and affixed with the share transfer stamps / franking of appropriate value, to the Company’s RTA. The Government of India, Ministry of Finance, Department of Revenue, has fixed the Stamp Duty on transfer (whether with or without consideration) of shares at the rate of 0.25 paise for every Rs. 100 or part thereof of the market value of the shares on the date of execution of the transfer deed. The transfer deed is valid for a period of one year from the date of presentation to the prescribed authority or till the book closure date for the first time, whichever is later. In case the validity of the share transfer deed has expired, the holder may approach the Registrar of Companies or other Authorities for revalidation of the same. The statutory time limit fixed for registration of transfer of shares is 15 days as per the Listing Agreement and two months as per the provisions of Companies Act, 1956.
In case of Dematerialized shares, the shares are credited to the purchaser’s account by the respective Depository Participant (DP) under the directions of the concerned Depository. Presently, transfer of dematerialized shares does not attract stamp duty.
SEBI vide its circular dated 20th May, 2009, made its mandatory for the transferee(s) to furnish a copy of PAN card to the Company/RTAs for registration of transfer of shares, for securities market transactions and off-market / private transactions involving transfer of shares in physical form.
Consolidation of Folios
If the shares are under different folios, but have the same order of names, the shareholder may write to Company’s RTA for consolidation of folios enclosing therewith all relevant share certificates. This will help the shareholders to monitor efficiently.
Change of Name
Shareholders may send the application together with original share certificate(s) and supporting documents like Gazette Copy, Marriage certificate and Court order, etc. to the Company’s RTA. The Company’s RTA, after verification will effect change of name and send the share certificate(s) duly endorsed in the new name of the shareholder(s).
Shareholders holding shares in demat form, may request the concerned DP in the format prescribed by the DP.
Delegation of power to another person to deal with shares
Shareholders need to execute a Power of Attorney in favor of the concerned person and submit a notarised copy of the same to the Company’s RTA. After scrutiny of the documents, the RTA shall register the Power of Attorney and inform the shareholder concerned about the registration number of the same. Power of Attorney holder has to furnish registration number in all communications.
Change of Name due to Merger, Demerger & Amalgamation
Requirements: Attested copy of Court Order, Memorandum & Articles of Association of the company, certified copy of Board Resolution containing the names of the authorised signatories and their specimen signatures duly certified thereon.
Trust, HUF & Partnership Firms
Shares owned by Trust, registered under Society's Act can be registered in its own name. If not, the shares can be registered in the name of Trustee.
Shares owned by HUF can be registered in the name of Karta on behalf of HUF
Shares owned by Partnership Firm, can be registered in the name of partner as an Individual.
Deletion of name
Shares held in joint names, whenever one of the joint-holders deceased on receipt of application signed by the surviving joint-holder(s) together with attested copy of the Death Certificate of the deceased, copy of PAN Card of surviving joint-holder(s) together with original share certificate(s)