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  Share Certificate Consultation

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Tracing of investments in shares

We assist the shareholders to find investments in shares lying unnoticed/untraced in their or their family members’ name. The shareholder/heirs might be unaware of such investments owing to certain reasons including change of communication address along with non-possession of the share certificates/other communications implying shareholding, etc.; We at Chawla Sons, have designed and developed in-house customized intelligent system to attempt and search the investments in shares across majority of the population of listed and unlisted companies.

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Claiming of the shares and dividends from IEPF Authority

We assist investors/claimants to seek refund of the shares and/or the dividend amounts from the Investor Education and Protection Fund (IEPF). IEPF is meant for promotion of Investors’ awareness and protection of the interests of investors in India. Any money transferred to the Unpaid Dividend Account of a company in pursuance to section 124(5) which remains unpaid or unclaimed for a period of seven years (or 7 year and 37 days from the date of declaration of dividend) shall be transferred by the company, along with interest accrued if any thereon, to the IEPF. Further, Ministry of Corporate Affairs vide its notification dated October 13, 2017 mandated that ‘All the shares in respect of which dividend has not been paid or claimed for seven consecutive years or more shall be transferred by the company in the name of Investor Education and Protection Fund’ as on the due date October 31, 2017.

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seeking duplicate

Seeking duplicate or renewed share certificates

A duplicate share certificate (now referred to as Letter of Confirmation) shall be issued by the company upon compliance with the procedure as may be laid down by the company’s Share Registrar and Share Transfer Agent (‘RTA’), we shall assist our clients to comply with various requirements including filing of a missing complaint with concerned police authorities having jurisdiction. One then has to comply with the procedure including executing the requisite forms, after which the advertisement pertaining to the loss in the prominent newspapers shall follow, giving time to anyone else to stake a claim.
If no such claim is forthcoming, then upon through verification, once the issuer is satisfied that everything is in order, the share certificates shall be issued by the company under its seal. A share certificate that is defaced, mutilated or torn can be processed by the company and a duplicate share certificate be issued in respect of the same number of shares. The shareholder in such a case must submit the old certificate which is damaged along with such other documents as may be required by the company.

seeking duplicate

  Seeking transmission of shares

The Companies Act distinguishes transmission of shares from transfer of shares. While transfer of shares relates to a voluntary act of the shareholder, transmission is brought about by ‘operation of law’. The word 'transmission' means devolution of title to shares otherwise than by transfer, for example, devolution by death, inheritance, insolvency, lunacy, etc., while transfer of shares is given effect to by delivery of a proper instrument of transfer (viz. transfer deed) duly stamped and executed, transmission of shares is done differently.
On registration of the transmission of shares with or without production of probation of WILL, Succession Certificate or Letters of Administrations, the person entitled to transmission of shares becomes the shareholder of the company and is entitled to all rights and is subject to all the liabilities as the deceased shareholder. In case where the shares are held in dematerialised form, the legal heir(s) of the deceased must request the Depository Participant (DP) to transmit the balances of securities lying in the deceased shareholder’s account to the account of the legal heir(s) and shall comply with the requisite procedure. Further, in case where the shares are held jointly and/or in case where a nominee has been registered, the right of entitlement for transmitting the shares shall be evaluated thoroughly by referring to the applicable provisions of the Companies Act 2013 read together with the Articles of Association of the company and the applicable succession law of the country, etc.

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Evaluation

Evaluation

Many individuals possess numerous share certificates without understanding how to assess them in terms of whether a company still exists, the current number of shares held owing to the corporate actions over many years, and thus the overall worth of their holdings.

We specialize in evaluating share certificates by tracking corporate events like change of name, mergers, acquisitions, demergers, etc., and evaluating the number of shares by looking at corporate actions like bonus, split or consolidation of face value, and ascertaining the market price evaluation for determining the valuation. Furthermore, we provide insights on required actions, such as dealing with lost certificates or claiming shares from the Investor Education and Protection Fund (IEPF), etc.

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Correction/Updation of name, address, signature, etc.

A) Change in Name and/or Address - We assist shareholders to give effect to modification in shareholder’s name due to difference in spelling, change of name owing to marriage, etc. we also enable shareholders to change their registered address in company’s records.

B) Updation of signature - This situation generally occurs due to change in style of signature over many years. Therefore, to perform any action concerning the share certificates, the present signature is required to be updated in company’s records.

C) Seeking of the new share certificates - Claiming of new certificates that came into existence owing to various corporate actions including bonuses, splits, mergers/de-mergers/acquisition, change of name of the company, etc.

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Succession-Certificate

Assistance to seek Probation of Will/ Succession Certificate or Letters of Administration

Probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased. Succession Certificate is a certificate granted by the Courts in India to the legal heirs of a person dying intestate leaving debts and securities. A person is said to have passed away intestate when he/she does not leave a legal Will. Succession certificate entitles the investee company to make payment of debt or transfer securities to the holder of certificate without having to ascertain the legal heir entitled to it. Lastly, the Letters of Administration are granted by a Competent Court to appoint appropriate people to deal with a deceased person's estate.

Dedicated desk for NRI

Dedicated desk for NRI, corporate clients and trusts

An NRI (Non-Resident Indian) is an Indian citizen who ordinarily resides outside India and holds an Indian passport. Additionally, PIO (Person of Indian Origin)/OCI (Overseas Citizen of India) cardholders are individuals with Indian ancestry who currently hold foreign citizenship, either as PIO or OCI, and are considered equivalent to NRIs in terms of facilities available in economic, financial, and educational fields. We provide dedicated services to meet the needs of NRIs, PIOs, or OCIs. Furthermore, our specialized desk addresses issues faced by Corporate Entities, Partnership Firms, Association of Persons (AOPs), Body of Individuals (BOIs), or Trusts concerning investments held in physical or dematerialized form.

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Dematerialize physical share certificates

Dematerialization is the process through which physical securities, such as share certificates, are converted into electronic form and held in a demat account. This process enhances security and reduces the risk of loss or theft. More importantly, it enables the transaction in such shares, as the Securities and Exchange Board of India (SEBI) barred the transfer of shares in physical form effective April 1, 2019. Transfers of shares are only permissible in dematerialized form, making dematerialization of physical share certificates a mandatory step for shareholders. At Wealue One, we offer dematerialization services to convert your physical share certificates into electronic form, making it easier to manage and transfer your shares. Our experienced team will handle the dematerialization process for you, ensuring a seamless and efficient conversion. Contact us today to learn more and dematerialize your physical share certificates.

How We Operate?

Step 1:
  • A. Our team does identify the shares probably having been transferred to the IEPF and try and trace the shareholders or their legal heirs and solicit to offer our services in those regards OR
  • B. A prospective client intending to seek our services could provide us with the soft copies or photocopies of the share certificates as maybe available with him and THAT IS IT. We shall then undertake to ascertain and quantify the holdings thereof by looking into the corporate actions including change of name, mergers or acquisitions and demergers by factoring-in the swap ratios, bonuses, split or consolidation of face value, capital reduction, etc.,
    Furthermore, we shall also undertake to ascertain the scope of work by assessing if there are any share certificates that are lost and/or the shares have been referred by the companies to Investor Education and Protection Fund (IEPF) Authority and/or if the shares are required to be transmitted in the names of the legal heirs.
Step 2:
  • We then communicate the professional fees and tentative turnaround time for completing the assignment.
Step 3:
  • An agreement shall be signed between the investor or his/her legal heir and us, which will include all the above details.
    We will not seek a single penny as advance; the payment is required to be made in parts at predetermined stages as the assignment progresses.

Frequently Asked Questions

Share Certificate Consultation involves professional guidance and services related to eventually enabling the share certificates in electronic form. This includes tasks such as updation or correction of name & address and specimen signature, dematerialization of share certificates, assistance with lost certificates, transmission of shares due to events like the demise of shareholders, claiming shares from the Investor Education and Protection Fund (IEPF) Authority, etc. The services also involve tracing forgotten or unknown investments in shares.
Share Certificate Consultation is needed by individuals and entities holding physical share certificates. It ensures compliance with regulations and assistance in navigating complex processes, ultimately leading to claiming of such investments with ease and confidence. Depending on the scope of work, Share Certificate Consultation may involve liaising with multiple stakeholders, including the company, its Registrar and Share Transfer Agent (RTA), police authorities, the court of law, the IEPF authorities, etc. Investors often face uncertainty regarding whom to approach or how to proceed. Wealue One offers the requisite know-how and perseverance to handle such assignments effectively.
Share Certificate Consultation provides expert assistance while liaising with multiple stakeholders and streamlining the process for investors. It enables them to navigate the complexities of the investments held in physical form, ensuring proper compliance and claiming thereof. Whether dealing with the company, RTA, police authorities, court of law, or the IEPF authorities, our services ensure a convivial approach and guide investors on the best course of action.
As per an article published in Business Standard dated Nov. 12 2018, ‘shares worth Rs.3.91 lakh crore are still held in physical form in 3448 listed companies’. Many investors may not be aware of these investments. Wealue One helps individuals and entities trace and identify investments via physical shares held in their names
Based on our experience of more than 8 years, we have observed that approximately more than 20% of all the investors, pursued by us, were unaware of the existence of their investments due to various reasons incl. change of communication address along with non-possession of the share certificates or other communications implying shareholding in a company. Wealue One helps in tracing and claiming these forgotten or unknown investments in shares. Contact our team, and we will assist you in uncovering and claiming such investments effectively.
We can cater to individuals, both resident and non-resident in India, firms, corporates, and trusts that are holding the shares in physical form. We have an enviable track record of serving to a diverse clientele, including professionals, business leaders, and entities, comprising of companies and trusts, in India and abroad.
Any money transferred to the Unpaid Dividend Account of a company in pursuance to section 124(5) which remains unpaid or unclaimed for a period of seven years (or 7 years and 37 days from the date of declaration of dividend) shall be transferred by the company, along with interest accrued if any thereon, to the IEPF. Furthermore, Ministry of Corporate Affairs vide its notification dated October 13, 2017 mandated that ‘All the shares in respect of which dividend has not been paid or claimed for seven consecutive years or more shall be transferred by the company in the name of Investor Education and Protection Fund’ as on the due date October 31, 2017’. This exercise is being undertaken by the companies every year thereafter. Thus, as a result, IEPF holds shares worth ~Rs. 21,000 crore as a custodian in 1000+ companies, with unclaimed dividends of ~Rs. 2,386 crore as per Annual Accounts compiled by IEPF Authority as on March 31 2019. Share Certificate Consultation can assist in claiming these shares and dividends from the IEPF, ensuring that investors are aware of and can claim their holdings.
The turnaround time varies based on the nature of the task. Simple processes like dematerialization of the share certificates may take around 3 months, while complex tasks, such as seeking transmission of shares through of the court of law and subsequently claiming the said shares from the IEPF Authority, may extend up to approximately 33 months.
Absolutely! The requirements, concerning the share certificates, are broadly the same for both listed and large unlisted companies.
Engaging Wealue One is easy. You just need to share an image (soft-copy) of the certificates being held by you, and we'll assess them. We track corporate affairs and actions to evaluate the current status of the companies, evaluate the number of shares, determine market prices, and provide insights on required actions, such as dealing with lost certificates or claiming shares from the IEPF, etc.
Disclaimer -es and the latest tax laws and regulations.