How Do I Claim An Old Share Certificate?

The Investor Education Protection Fund (IEPF) was established by the Central Government as the sole authority, and the full list of what is credited to the fund is detailed in Section 125 of the Company Act, 2013, which states that shares and dividends that have gone unclaimed for a continuous period of 7 years or longer should be transferred to the IEPF. Therefore, this post will inform you about recovering shares if you are the one who lost his/her share certificate and have no concept of how to claim the old share certificate. And if you require the assistance of a qualified professional who can advise you in this situation, get in touch with Legalraasta, the top consultant for the recovery of shares in India.

How to replace missing share certificates?

  1. First, file a missing share certificate complaint with the police to acquire a First Information Report (FIR), which must be obtained in order to recover lost shares. An FIR comprises a folio, share certificates, distinguishing numbers, the number of shares, and other information.
  2. You must sign a notarized indemnification and an affidavit with the missing share certificates in order to recover shares on non-judicial stamp papers of a certain value.
  3. The following step is to complete the share recovery form from the firm whose share certificates you missed, or you can use a share transfer agency like Legalraasta for recovery of shares, and then submit it with supporting papers like an income slip, a salary slip, or an ITR that has been notarized.
  4. The duplicate share certificate request letter must then be filled out in accordance with the guidelines provided for the recovery of shares.
  5. The last step is to mail the request letter, papers, and the share recovery application form to the corporation through registered mail.
  6. Now, if the authority is satisfied after reviewing the application and supporting documentation, it will issue duplicate share certificates, which will be sent to the registered address after the procedure for recovery of shares is finished.

Certificate in lieu of old shares Certificate

  • The certificate of any shares that are subdivided or combined for the purpose of recovering shares must not be issued.
  • The certificate of any shares shall not be issued for the purpose of recovering shares in the event that the certificate is damaged, ripped, old, worn out, or where the pages on the reverse intended for documenting transfers have been properly used.
  • If the certificate in lieu of which it is granted is not surrendered to the company, the certificate of any shares may not be issued for the recovery of shares.
  • If the board decides that the firm can charge fees on consolidating share certificates that are disfigured, mutilated, ripped, old, decrepit, or worn out that do not exceed fifty rupees per certificate issued, the certificate of any shares shall not be granted.
Read Also This - How do I find existing shares

Conclusion

If you find the aforementioned procedure to be somewhat confusing, don't worry; all you need to do is get in touch with Legalraasta's team of qualified advisors, who can assist you in the recovery of shares in the quickest and most affordable manner possible.

Comments

Post a Comment

Popular posts from this blog

Who Can Help Recover Unclaimed Shares In India?

Image
One fine day you learned that your parents or grandparents had purchased actual shares in blue chip firms, and that their value had skyrocketed. However, you have no idea how to get those shares back.Because there are so many shares with the government's Investor Education and Protection Fund (IEPF) that have not been claimed by the shareholders or their legal heirs/nominees/successors, many people invest in shares but forget to claim them or their legal heirs may not be aware of the shares or the claiming process. Therefore, you may use this blog to help you recover unclaimed shares in India. If you need any assistance with share recovery, Legalraasta is here to provide full guidance and speed up the process. Who all qualifies for share recovery from the IEPF Authority? Any shareholder with shares that have been transferred to the IEPF that are unclaimed may request a return of those shares by submitting an application to the IEPF Authority, although a claimant may only subm
Read more

How Can I Check My Shares Transferred To Iepf

Image
The Investor Education Protection Fund (IEPF) Authority was created to safeguard the interests of investors who hold shares on the Indian Stock Exchange but have not received their dividend payments. With the exception of bonus or split shares, dividends on shares that have not been claimed for seven years in a row are transferred to the IEPF. As a result, it is imperative that shareholders be advised to maintain track of their money and to claim their dividends on time. In order to raise investor awareness and safeguard their interests in the money market, the IEPF Authority revives inactive shares and makes refunds of unclaimed dividends, matured deposits, or debentures to investors. You will learn how to check funds transferred to the IEPF in the IEPF shares recovery in this blog. How can we find out the status of shares transferred to Iepf? To check the status of shares transferred to Iepf, go to the official website and then click on Search Unclaimed/Unpaid Amounts. These are
Read more