De-listing Outpaces Listings
SEBI and ministry of finance remain in their own world, as an important indicator of the spread of equity cult sputters
 
If the disinvestment of shares in public sector undertakings (PSUs) is a part of the Modi government’s grand plan to bridge the fiscal deficit over the next few years, it needs to pay serious attention to markets. Moneylife has repeatedly pointed out that India’s retail investor population has halved in the 25 years when the capital market has been under the watch of an independent regulator. Things are worse for companies. They have to deal with mindless tinkering with disclosure and reporting rules, onerously impractical responsibilities dumped on independent directors and draconian punishments prescribed through amendments to the SEBI (Securities & Exchange Board of India) Act and the Companies Act, 2013. No wonder, as pointed out by a report on 20th January in the Business Standard, the number of companies that have de-listed from the bourses outpaces new listings. 
 
The numbers are worrying. Prime Database has pointed out that only 15 companies have been listed on the bourses since 2012, while nearly thrice the number (42) have de-listed. Essentially, any company that can access private money does not want to go through the rigour of mindless and costly compliance. 
 
This is bad news for ordinary retail investors who, ever since the FERA dilution of the 1970s and the Reliance-led equity cult of the 1980s, had gained significantly by investing in initial public offerings (IPOs) of blue-chip companies and staying invested for the long term. Ironically, the equity cult ended in the early 1990s because the government unleashed thousands of fly-by-night companies on the market when it scrapped the office of the Controller of Capital Issues (CCI) and replaced it with SEBI without putting in place any check or verification of companies, their promoters or business plans. 
 
The past 25 years have been spent on making impractical rules rather than making the markets free from dubious corporate behaviour and stock manipulation. Consequently, despite the euphoric, eight-month rally after Narendra Modi took charge as prime minister, the primary market remains dead and the average, long-term, retail investor remains out in the cold.
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    COMMENTS

    KAVIRAJ B PATIL

    5 years ago

    When reputed promoters like Ambanis give investors a rotten egg like "Reliance Power", what else will investors do other than exit from the markets? You also have a company called Datar Switchgear, that around the year 2001 or so declared a 1:1 bonus and then shortly thereafter disappeared. You also have a promoter who was given a banking licence. Luckily, for the public, before this crook could establish the bank, he was caught in an over Rs.600 crore scam. Then, we have a company called Uniscans and Sonics which vanished. But, some years later, we saw the promoter of this company, boasting about his capability, on the famous Tehelka sting which cost Bangaru Laxman his party presidentship.

    Callous regulator and bourses leave investors to the mercy of shady brokers

    Investors duped by Unicorn securities are being made to run from pillar to post for grievance redress. While the regulator and its touted SCORES acts like a post office, stock exchanges, who boast single screen national trading are making the hapless individual run from one office to another

     

    UPDATE: Updated to add response from NSE.

     

    Unickon Securities Pvt Ltd (formerly known as Unicon Securities) was expelled by National Stock Exchange (NSE) on 5 September 2014 for violating various stock broker norms. At that time, NSE had asked investors to file claims against Unicon Securities within three months. However, the maximum compensation limit per investor, if found due and payable out of the Investor Protection Fund (IPF) was Rs15 lakh, the bourse clarified.
     
    Kumar (name changed), a UPSC student and investor filed a complaint before SEBI to get back his shares and cash balances worth Rs1.5 lakh from Unicon Securities. It has been now more than 10 months, and Kumar has neither received his money nor any shares in his demat account. In addition, he is being made to run from one office to another for getting his money back despite clear directions from SEBI to release certain amount to investors with claims of less than Rs10 lakh, during the claim proceeding itself from the Investor Protection Fund. 
     
    When Kumar first filed his complaint, SEBI, the post office, forwarded it to NSE's office in Delhi. It held one arbitration meeting at Delhi, attended by Kumar and issued a letter sanctioning a claim Rs86,696 based on their calculations. 
     
    The letter also stated that in case the broker fails to give Kumar his shares within seven days, then NSE will block the amount equal to prevailing price of the shares and release the fund as per SEBI directions (CIR/MRD/ICC/30/2013 dated 26.09.2013) to the investor. 
     
    According to the circular, if the member (broker) does not opt for arbitration, then the stock exchange would release the blocked amount to the investor after the seven day's timeframe. SEBI said, in case, the member opts for arbitration and the claim value admissible to the investor is not more than Rs10 lakh, the monetary relief from IPF would be given to the investor as per the case status (50% of the admissible claim value or Rs75,000, whichever is less).
     
    During the arbitration meeting, representative of Unicon Securities also agreed to release Rs850, the outstanding balance in Kumar's account on submission of account closure form.
     
    However, Kumar did not get any money and after several enquiries, NSE's Delhi office asked him to file fresh complaint before its Investor Grievance Redressal Committee (IGRC) at Mumbai. Kumar submitted his complaint along with all relevant documents.
     
    Yet, time and again, he is asked to submit more documents without even acknowledging his submission or refunding his money from the IPF.  
     
    In an email reply, an official from NSE said its Delhi office had spoken with Kumar. The official said, "(Our) Delhi team spoke to Kumar and explained to him that since there are large number of claims the Defaulters Committee is looking into it and he will get his dues soon."
     
    What is more frustrating in this whole episode is Kumar is a student and preparing for UPSC examination. After his graduation, he worked for about two years and whatever he could save, invested in the stock market. Now, with his little saving remaining in abeyance due to lethargic attitude of stock exchanges and the market regulator, Kumar is finding it difficult to even support his day-to-day life, forget about buying books for his studies.
     
    An investor believes in his stockbroker and it is this trust element between that allows the investment to grow, depending upon the market conditions. However, when this trust is broken, the investor goes broke and nothing really happens to the broker. With stock exchanges (the first line of regulators) and market regulator Securities and Exchange Board of India (SEBI), either turning a blind eye or showing lethargic attitude, there rarely is any action against brokers. No wonder, every day we hear stories of losses suffered by investors from markets. 
     
    For resolving investor grievances, the market regulator has established the SEBI Complaints Redressal System (SCORES). SEBI and the two main stock exchanges, BSE and National Stock Exchange (NSE) continue to put out glowing reports about their successful redressal of complaints. Yet, inexplicably, investors are extremely unhappy, partly because their complaints go into a black hole and partly because the SEBI Act simply does not allow for it to provide damages or grant compensation, even by recovering the amounts from defaulting or fraudulent entities. 
     
    In most of the cases, SCORES merely acts like a post office and forwards investor complaints to the stock exchanges or the depositories. However, since there is no check on the outcome, investors, like Kumar, continue to suffer. 
     
    After NSE expelled Unicon Securities, on 10 December, SEBI barred the brokerage and its directors, Gajendra Nagpal and Ram Mohan Gupta and its two key management personnel, Pawan Dhanuka and Pritam Pandya from markets for violating various stockbroker norms.  
     
    In April 2014, Moneylife raised the issue of the broker's non-functioning trading platform. The broker was neither honouring payout requests from its investor customers not its customer services and offices were reachable. (Read: Has Unicon Securities shut shop?)
     
    As of 31 March 2014, there are 315 complaints registered by customers against Unicon Securities during FY2013-2014 on NSE, out of which 52% were not resolved.
     
    The investors, who have their trading account with Unicon Securities were worried about their investments as they are not able to trade and withdraw money from their account. The non-existence of its customer services and offices too raised a question in April 2014 about what went wrong with Unicon Securities and when will the regulators step in? NSE took action against the brokerage only in September while SEBI barred Unicon Securities only in December 2014. However, this has not helped investors in any manner. There are several investors who had trading account with Unicon Securities and still waiting for their money and demat shares.
     
    Hope the regulators wake up to the cries of helpless investors, especially those, whose trust is breached by the broker, and give timely justice.
     
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    COMMENTS

    Mike Smith

    5 years ago

    No wonder Indians are mostly investing in Precious Metals, Real Estate and FDs.

    sanjay

    5 years ago

    it is serious

    sanjay

    5 years ago

    regultors should look at it seriously

    Kiran Aggarwal

    5 years ago

    This is a shocking story .
    Esp. the case of UPSC student
    the boy just wants to trade in market
    and he landed in the soup .

    ---------------------
    GOOD RESEARCHED STORY ML
    KEEP IT UP
    MANY PITFALLS IN PROCEDURE TO SUCCESSFUL INVESTING .

    REPLY

    sanjay

    In Reply to Kiran Aggarwal 5 years ago

    it is shocking but sadly a true state of the mrket

    sanjay

    5 years ago

    this is a big organized sham on investors

    manoharlalsharma

    5 years ago

    why only UNICORN ? there r plenty like ORKAY,UNIQ OILS and so a big data available with exchange.so please take whole episode.

    Radhakrishnan Subbiah

    5 years ago

    My conviction ( repeated in no of earlier such comments) is confirmed for the 100th time in succession.
    We have one huge corrupt machinery ( starting from the businesses, banks,exchanges to the government & its various agencies) whose fodder is the common man . It thrives on grinding & squeezing out the life-blood of the common man.The only way a common man can escape from this corrupt machinery is to stay away , as far as possible, from investing in any of these despicable entities.

    Vaibhav Dhoka

    5 years ago

    Callous regulator or I will say callous government machinery is legacy we inherited from Britishers.The two worst things we kept with us is JUDICIAL system and suppressing the public VOICE. We never bothered to inherited discipline punctuality and HARD work from Britishers.With this inheritance came corruption and judicial delay.
    Corruption and NO ACCOUNTIBILITY plays the biggest role in this CALLOUS attitude in government machinery. As there is NO ACCOUNTIBILITY and NO PUNITIVE ACTION the corruption goes unabated. That doesn’t mean that whole system is rot. There are officers and judges with exemplary track record who works fearlessly whose count is superseded by corrupts. Revenue tops the graph followed by police and the regulator SEBI.
    As mentioned SEBI act as postmaster for investors’ complaint. Then to shrug its responsibility it INVENTED the system of SCORES that is you get automated reply to investors. When SEBI itself is not taking up INVESTORS complaint then why it is flooded with highly paid officers in MIRDS department and others? Will SEBI chief reply? The below complaint will expose SEBI.
    Kotak Sec.Ltd appointed franchisee Mateo Consultant Ltd. In Pune.A franchise works under the registration of its PRINCIPAL i.e all board and papers are in name of PRINCIPAL.SLBS was then in 2004 was permitted for three entities and Kotak was one of them. With help of franchisee Kotak got 1000 shares of Ranbaxy (Now 2000) in SLBS agreement. After four months franchisee vanishes. When complained to SEBI the act of postmaster started and complaint referred to NSE,BSE who are in hands of brokers. In mean time one Dheeraj Balkrishnan came to Pune to offered 50% shares back, which I refused to accept. Then in 2005 Ms Priya Subbarman Vive Pres. appeared on behalf of Kotak at NSE and again offered 50% shares back. Which was not accepted?
    When complaint was with EOW of Pune police they said approach SEBI at the instance of Kotak official. Even though there was fraud which was criminal action police failed to act which shows to what extent we have stooped due to corruption. All the system of ARBITRATION and extra judicial process is SHAM. The ARBITRATORS are in hand s of brokers. Very rarely in petty case they decide in favor of INVESTOR.
    I have heap of correspondence with SEBI,NSE,BSE and Pune Police. This substantiates my allegation leveled in beginning. Why no answer is given to complainant the reason for NO ACTION by concerned department if this system of reply is enacted it will bring TANSPARENCY AND WILL REDUCE CORRUPTION to great extent. Will SEBI,NSE,BSE and Pune Police dare to reply my above allegation.

    REPLY

    Sweena Jain

    In Reply to Vaibhav Dhoka 5 years ago

    Why did Kotak officials offered only 50%shares back when it took 1000 shares before NSE authority which shows that all are guilty and are embedded in web corruption.This shows that all these authorities are corrupt and there is no Messiah for Investor.No action speaks lot in favor of investor.

    RAMESH VASWANI

    5 years ago

    Sir,

    If the system of redressing grievances of investor is not being served properly and effectively, why not abolish all these post office like institutions. I feel these institutions have been created only to milk the cow and put some one in good humour ( not an expert or effective administrator).
    Better avoid middle post offices and act effectively; if not able to
    manage, then give authority to some one to act (not simple post office).

    R Balakrishnan

    5 years ago

    SEBI exists merely to serve interests of large and corrupt corporates.Each SEBI official should also be investigated by EOW and CBI along with IT or Enforcement

    Investor Interest   Exclusive
    How to get physical shares transferred and converted into demat
    Some people are holding shares not transferred in their name and don’t know how to go about the transfer. Here is the procedure 
     
    Corrected: As per Companies(Share Capital & Debentures) Rules, 2014, form 7B has been replaced with form SH-4
     
    UPDATE: Updated to include additional information provided by NSDL's Rajesh Doshi on demat and bank names that provide franking facility
     
    Several people are still left with shares in physical format. If these are transferred in their name, they can continue to hold them and get them dematerialised anytime they want to. What about those who are holding shares not yet transferred in their names? One cannot sell these shares in physical forms through stock exchanges, unless it is dematerialized. Several readers of Moneylife, said they wanted to transfer physical shares jointly held. But they don’t know the way out.  
     
    Asking National Securities Depository Ltd (NSDL) is of no help. You will get a standard reply like this: "Shareholders can dematerialise physical shares in their own name. As such, transfers of physical shares are outside the purview of depository system. There is also no trading in physical shares on the stock exchanges and hence they can only be transferred in private deals. The recommended course of action for investors holding physical shares is to dematerialise them. Transfer of demat shares is also exempt from stamp duty." 
     
    When we asked around, one member of Moneylife Foundation, Adil Daruwalla turned out to be helpful on how get the franking done. We made our own enquiries. Here is the procedure to transfer shares in physical form...
     
    1. Send the share certificates along with the Share Transfer Deed (Form SH-4 available with stock exchange and brokers) duly filled in, executed and affixed with appropriate share transfer stamps (available with authorised stamp vendors) at 0.25% of the market value (of the scrip) on the date of execution of the transfer deed. Self certified copy of the PAN Card of the transferee(s) needs to be submitted along with the instrument(s) of transfer and Stamp duty has to be affixed.
     
    Since 1 July 2002, Maharashtra government has banned sale and use of share transfer stamps and mandated franking for such deeds. This facility was available at Bank of India branch in BSE building. However, since December 2014, this facility has been closed. Franking now happens at Town Hall General Stamp office only or other central offices of collectorate of stamp fees within Maharashtra State, through online registration or without online registration. The process can be found at https://gras.mahakosh.gov.in. 
     
    a. For paying the stamp duty without registration, you can use your online bank account. Here are the steps involved in the process...
     
     
     
    I. Select Pay without registration
    II. Select Department as Inspector General of registration
    III. In payment type, select Non Judicial Stamps
    IV. Select the appropriate location in District
    V. In office name, select General Stamp Office Mumbai
    VI. In Scheme Name, select 'Purchase of franking code SOS Mumbai only'
    VII. Select year as 2014 - 2015
    VIII. In Article Code, select One time Adhoc
    IX. Fill in the Amount 
    X. Give Payee details
    XI. Select e-payment/Bank
    XII. Fill in image text
    XIII. Click on Submit
    XIV. Print GRN MTR6 Challan
     
    Take this printout with your share transfer form to the office to get your stamp fee franked on your transfer form.
     
    i. If you do not have an online account, then
     
    I. Print the GRN MTR6 Challan
    II. Fill in your details and make the payment at your concerned bank's branch where they accept payment for general stamp office with pay in slip etc.
    III. Take the Form and the paid amount along with your transfer for franking.
     
    In both cases, you will have to carry a letter addressed to the Additional Collector (Stamps) in following format...
     
    From:
    _________
    _________
    _________
     
    To
    The Additional Collector Stamps
    General Stamp Office Fort
    Mumbai 23
     
    Sub:- To Affix Special Adhesive Stamps on Share transfer form
     
    Respected Sir,
     
    With reference to the above mentioned subject, I have to state that I have paid stamp duty of Rs.________________ as per MTR Challan No 6 (GRN No. __________________________)
     
    I hereby request you kind selves to kindly affix the requisite stamp duty on the same.
     
     
     
    Yours Faithfully
     
    (Note: For Shares, stamp duty @ 0.25% of the market value or the consideration amount (whichever is higher) should be affixed on the instrument of transfer.)
     
    One can submit the letter, form and receipt to the General Stamp Office between a specific time period. The franked documents can be collected between a specific period the next day.
     
    Rajesh R Doshi, Senior Executive Director of NSDL said, "My understanding is that any bank, which offers franking facility for legal documents can also provide the same for transfer deeds.  We use services of Kapol Cooperative Bank branches at Kalbadevi and Fort for franking of legal documents. We have inquired with them and they have confirmed that they would provide services of franking transfer deeds for physical share transfer. Investors can approach them. There are other banks such as Punjab and Maharashtra Co-operative (PMC) Bank and Citizen Co-operative Bank who also provide facility for franking legal document however we have not used their facility. Investors may inquire with them as well."
     
    Here is the checklist for getting your deed franked
    1. Covering letter to the Additional Collector Stamps. Two copies, one to submit and second for receipt of the office and collection next day.
    2. MTR 6 Challan with the GRN No if you have done e payment
    3. Share transfer form 
    Every share transfer form that has to be franked requires the above process.
     
    After getting the deed franked, the investor can send the share certificates (physical shares) and the share transfer deed (in form SH-4) duly filled in and signed to the company or registrar.  It takes about 10 to 21 days to process the transfer.
     
    The statutory time limit fixed for completing a transfer is one month under the Listing Agreement and two months under the Companies Act, 1956.
     
    How to convert shares into demat form?
    Dematerialisation (demat in short form) signifies conversion of a share certificate from its present physical form to electronic form for the same number of holding. Demat is optional and an investor can still hold shares in physical form. However, she has to demat the shares if she wishes to sell the same through the stock exchanges. Similarly, if an investor purchases shares, she will get delivery of the shares in demat form.
     
    There are two depositories, NSDL and Central Depository Services Ltd (CDSL), which hold securities of an investor in electronic form, through depository participants (DPs). DPs provide the link between an investor and company through the Depository.
     
    Mr Doshi from NSDL said, physical shares can be dematerialized in the demat account in the name(s) of share holders holding physical shares. In case, shares are held jointly in physical form by investors, then the same can be dematerialized by opening a demat account in joint names.
     
    "However," he said, "as I understand,  investors prefer to make use of existing demat account held in single name by first transferring physical shares held in joint name into single name. Transferring physical shares requires payment of transfer fees through franking of transfer deed documents, a service investors used to avail from BOI Shareholding. Since BOI Shareholding has now stopped this service, investors can use franking facility provided by some banks."
     
    Here is how you can convert your physical shares into demat...
     
    Open a Beneficiary Account with a DP registered with SEBI and with any one of the depositories, NSDL or CDSL.
    Submit the dematerialization request form (DRF) (in triplicate) to your DP duly filled in and signed by all the shareholders, along with share certificate(s) and necessary documents. Ensure that the names and order of names as per certificate(s) matches with the names and order of the names as per the DP account.
    Obtain an acknowledgement from the DP.
    On receipt of DRF, the DP will generate a dematerialization request number (DRN), which is electronically transmitted to the Company or STA through the concerned Depository.
    Simultaneously, the DP will send the physical certificate(s) with the original DRF to the Company or STA for verification and confirmation.
    The Company or STA, on receipt of DRF and share certificate(s) will process the request. If the DRF is found to be in order, i.e. verified signature and certificate(s), then it will electronically confirm the request.
    The DP on receipt of such confirmation, will credit the account with the shares dematerialized.
    The DP will hold the shares in the dematerialised form thereafter on the shareholders behalf and she will become beneficial owner of these dematerialised shares.
     
    Important points to note  
    1) Validity of the executed instrument of transfer: 
    for shares: - 60 days from the date of execution.
    for debentures: - for an indefinite period
    2) SEBI has notified vide its Circular No. MRD/DoP/Cir-05/2009 dated 20 May 2009 that it is mandatory for all transactions in the securities market including transfer of shares in physical form of listed Companies to be accompanied with copies of PAN card/s of all the transferees. Therefore attach self-certified copies of PAN card/s of all the transferees along with the instrument of transfer  
    3) Keep photocopies of certificates, instrument(s) of transfer and other documents sent by post. In case of a loss in transit, they come handy. 
    4) Always include your complete address along with pin code while filling in the instrument of transfer/opening an account with a depository participant. 
    5) Do not send share certificates / DRF documents to the Company / Registrars directly.
     
    NOTE:
    Those seeking help in transfer/coversion of physical shares may check website of Share Samadhan https://sharesamadhan.com/contact-us

    However, kindly understand, your engagement with Share Samadhan will be strictly on a professional basis and involve payment of a fee to Share Samadhan. Moneylife will have NOTHING to do with such a client-advisor relationship and you would agree to keep Moneylife out of such arrangement/s and or consequences arising from it.
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    User

    COMMENTS

    Jayeeta Sengupta

    10 months ago

    Thank you,here they require the Notary attestation, Bank Manager Signature

    Sucheta Dalal

    10 months ago

    READER ALERT: We notice that certain people are posting their numbers on this article and offering to help with demat and physical share issues. We would like to urge readers to exercise utmost caution, Moneylife does not encourage such solicitation on our pages. We will do our best to remove such numbers and comments.

    Jignesh Bhatti

    10 months ago

    Thanks

    chandan kanodia

    1 year ago

    Hi, My father has bought shares(in physical form) long back Now father is no more and i would like to sell these shares. Can some one guide me on how to sell these shares?

    REPLY

    rahul mallik

    In Reply to chandan kanodia 7 months ago

    Hi Chandan, I have a similar issue. In case you have got assistance, please pass on the contact for me to connect.

    Rahul Mallik
    9899849486

    Santosh

    1 year ago

    Hi Friends
    I have a few shares that are in physical form and its in 3 names , I am the first holder and my mother is the second holder and my father is the third holder. My father has passed away 5 years back and I want to remove his name and my name and make my mother the sole owner of the shares. I have the below questions. Please could expert advise me on the below questions
    1. How can this be done
    2. will i be taxed if if transfer the shares to my mother
    3. if i make a demat account and demat these shares and then do an off market transfer will it show in my account as income.
    4. I want to gift these shares to my mother so will I be taxed and would i need to declare them in my tax returns ?
    5. can I remove my fathers name and my name from the physical shares and keep the shares in physical form in my mothers name.

    Prasad A.N

    1 year ago

    Hi, My father has bought shares(in physical form) long back and it is jointly with my mother name. Now father is no more and i would like to sell these shares. Can some one guide me on how to sell these shares?

    Manaswi Mayur Nerkar

    2 years ago

    To (D Materialise) en cash any physical shares / MF, bonds contact me 8380076460

    Amit Malkar

    2 years ago

    HI, ANY PHISYCAL SHARES QUERY CALL ME 9766620660

    REPLY

    UDAY KEERTHI R

    In Reply to Amit Malkar 11 months ago

    Dear Sir, How do I take the Cancelled Seal on the Share Certificates from IL&FS for the Shares to get Demated? Would you please guide me ? What is the procedure for taking the Cancelled Seal?

    Pritesh Salvi

    2 years ago

    I have physical shares, i hav paid the stamp duty online thru Gras Mahakosh and have MTR6 Challan too, then still franking is required on sh4 form as i have paid charges online ?

    REPLY

    SUBRAMANIAM P S

    In Reply to Pritesh Salvi 1 year ago

    Any further development on this

    Kirti

    2 years ago

    Hi... I do have one query on this... I have few physical shares that I am trying to get dematerialised. I read the process here and proceeded with payment of franking fee online. However, I am unsure post that how to proceed. As per the process mentioned here, I should take the franking fee acknowledgement documents, letter and shares to Stamp office; however, I contacted stamp office in Mumbai to check with them and they say they do not do franking. So could you please guide further. Thank you.

    surendra arora

    2 years ago

    I sent 750 equity shares of Arihant cotsyn through DP. SBBJ( now SBI Cap) on Aug
    2002 for demitting
    The company not responded reminders from DP.Showing pending still in my statement.
    SEBI replied for not doing anything as the company is liquidated.Pl. advise.I have still 250 more shares on physical form

    Latha Kavya

    2 years ago

    I need to transfer a few shares - I have a problem of paying stamp duty at Vizag - there is no availability of stamps and i couldnt find any franking vendors either. Can I get the franking done when i visit Hyd or do we need to do it at Vizag (state of residence only)

    honey

    2 years ago

    I have physical shares of reliance industries in my father name joint name with my Bhua.... As my father is no more and I find the certificate after there death and I want to transfer it to my name. Please help me what should I do now and how will I transfer it in my name?

    REPLY

    Manaswi Mayur Nerkar

    In Reply to honey 2 years ago

    u can contact me on 8380076460

    RAJENDRA PARWAL

    2 years ago

    I have physical shares in the name of RK Parwal or Rajendra Parwal. My full name as per Aadhar Card is Rajendra Kumar Parwal. I have a dmat account in my full name. How do i get the shares in DMAT account which are in my short name: i.e. RK Parwal or Rajendra Parwal. Kindly advise.

    ANIL BANSAL

    2 years ago

    I have physical shares of reliance industries in joint name with my sister.... I have submitted the drf through edelweiss broking limited.. However the drf got rejected due to second holder signature mismatch. In response to which I submitted an affivadavit from bank branch manager authenticating my signature..and sent the affivadavit along with fresh drf to registrar.. However the form got rejected again for the same reason.. What should I do now ?

    REPLY

    Manaswi Mayur Nerkar

    In Reply to ANIL BANSAL 2 years ago

    u can contact me on 8380076460

    Paras Shah

    In Reply to Manaswi Mayur Nerkar 1 year ago

    I have physical shares of anjaniportlandcement. But due to some reasons I can't transfer in my name. Validity of transfer form already expired. How can I transfer the same. Please reply me

    sunny sadhana

    In Reply to Paras Shah 6 months ago

    There is no validity u can still Demat those shares if they are on your name else if u are the legal heir of the deceased owner of those shares than u need a will if it's not there than a succession certificate. If the value of shares is less than 5 lakhs than the process is much easier.

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