Name Deletion in Share:
Name deletion in shares becomes necessary when a joint shareholder passes away, or when shares need to be transferred solely to the surviving holder(s). This process involves removing the name of the deceased or undesired shareholder from the share certificate and updating the records with the respective Registrar and Transfer Agent (RTA) and Depository Participant (DP) if shares are in demat form.
The Process for Deleting a Name from Shares:
The process of deleting a name from shareholding records varies slightly depending on whether the shares are in physical or demat form, but the general steps are as follows:
1. Collect Essential Documents
○ Obtain all necessary documents, including the original share certificate (for
physical shares), death certificate (if applicable), ID proof of the surviving
shareholder(s), and a notarized affidavit if required. For demat shares, additional
documents may be needed as per the depository’s requirements.
2. Fill Out the Name Deletion Request Form
○ Complete a name deletion request form provided by the RTA or DP. This form
requires details of the deceased or exiting shareholder, surviving holder(s), and
shareholding particulars.
3. Submit the Documents to the RTA or DP
○ Submit the completed form, original share certificates (if physical), and supporting documents to the RTA or DP. They will verify the documents, including
the relationship between the deceased shareholder and the surviving
shareholder(s), and check for any outstanding issues.
4. RTA or DP Verification and Processing
○ The RTA or DP will process the request upon successful verification. For physical
shares, they will issue new share certificates with the updated names. For demat shares, the DP will update records, and the shares will reflect the new details in the demat account.
5. Confirmation of Name Deletion
○ Once the process is complete, you will receive a confirmation of the name
deletion. In the case of physical shares, new certificates will be issued to the
surviving shareholder(s); in demat shares, the name update will be reflected in
the demat account.
Allow us to simplify the process of updating shareholding records by removing unnecessary
names accurately and efficiently.
Contact us today to discuss how we can assist you with name deletion and keep your shareholding details up-to-date.