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Samraat Jadhav  |1852 Answers  |Ask -

Stock Market Expert - Answered on Jan 31, 2024

Samraat Jadhav is the founder of Prosperity Wealth Adviser.
He is a SEBI-registered investment and research analyst and has over 18 years of experience in managing high-end portfolios.
A management graduate from XLRI-Jamshedpur, Jadhav specialises in portfolio management, investment banking, financial planning, derivatives, equities and capital markets.... more
Nagaraju Question by Nagaraju on Jul 06, 2023Hindi
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Sir, I have 22 shares of Bank of Baroda (converted from 100 shares of Dena Bank). The shares are in physical form and sand in my name and my wife's name jointly. The registered name of my wife is RATNA NAGARAJ where as her maiden name is B.V. Nagarathna. There is no any documents to show her name as RATNA NAGARAJ. Now I want to convert the shares into on line form and sell. The registrars say they want proof for her name as RATNA NAGARAJ which is not possible. Please advise me how to proceed.

Ans: you need a proof, get a marriage certifcate and then apply for change of name.Update the new name in aadhar and bank account and the proceed with dmat conversion. you have to give proof, there is no other way.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |4647 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

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I have purchased shares of a company in public issue in1995 in joint name of my spouse and myself. Surname of my Mrs. is given as that of mine (after marriage). The company subsequently gone into problem and was taken over by some other company in year 2000. I have no communication of these developments as I shifted my residence to a different city. Now the new company on approaching, has given new share certificate in our joint names. However, I could not open demat account as per name mentioned in the share certificate since, my spouse surname mentioned in PAN and Aadhar are as per her school / office records (prior to marriage). The company is also not responding to my request to change surname of my spouse as per PAN / Aadhar. Pl advise the course of action as I am not getting dividend nor able to sell away shares, as they are not in demat form.dem
Ans: It seems like you're facing a challenging situation regarding the ownership and management of shares purchased jointly with your spouse. Here's a suggested course of action:

Contact the Company: Make another attempt to reach out to the company that issued the new share certificates. Clearly explain the situation and provide documentation, such as marriage certificates and identification documents, to support your request for a correction in the surname on the share certificates.
Legal Advice: If the company remains unresponsive or unwilling to cooperate, consider seeking legal advice from a lawyer specializing in corporate law or securities law. They can assess your situation, provide guidance on your rights as a shareholder, and assist in taking legal action if necessary.
Update Personal Records: Meanwhile, ensure that all personal records, including PAN and Aadhar, are updated to reflect the correct surname. This will help resolve any discrepancies and ensure compliance with regulatory requirements when opening a demat account or conducting other financial transactions.
Explore Alternative Solutions: While pursuing the correction of the surname on the share certificates, explore alternative options for managing the shares. This may include finding a trusted family member or friend who already has a demat account and can hold the shares on your behalf until the surname issue is resolved.
Stay Informed: Keep yourself informed about any developments related to the company and its shares. Monitor communication channels, such as official announcements, shareholder newsletters, or the company's website, to stay updated on any changes or opportunities to address your concerns.
Remember to document all communications and efforts made to resolve the issue, as this may be useful in case of future legal proceedings or disputes. It's essential to approach the situation calmly and persistently while seeking a resolution that aligns with your rights as a shareholder.

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