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Inherited Shares in IIFL: What Documents Do I Need to Transfer Them?

Samraat Jadhav |2019 Answers |Ask -Follow

Stock Market Expert - Answered on Aug 16, 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

Question by SASIDHARAN on Aug 14, 2024Hindi

Money

My father-in-low had some shares with Karvy. Now it is under IIFL. My fatherin-low expired 7-8 years ago. Iam the nominee for this shares. What all documents required to change these shares in my name. I have also a demant account with IIFL. I have only the death certificate of my father-in-low. Any other docuemnts also required to transfer these shares in my name.

Ans: connect IIFL and they will help you, if you as a nominee is registered with them, through death certificate they will transfer the shares in your dmat.

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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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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Question by SASIDHARAN - Jun 03, 2024Hindi

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Hi Sir, My father-in-law had a demant account and some shares, cash with Karvy. He died around 6-7 years back and now the shares are with IIFL. I am the nominee of these shares. How can I transfer these shares in my name. I have also an demat account with IIFL. Plz. advice.

Ans: approach IIFL they will help

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Hii sir ! This is ritika and I love a boy and we are in relationship since 7 years but there are some behavior of him he always have doubt on me that I am dating another boy he always says that start you screenshare in WhatsApp I even do because I don't want to lose him and he saw all of things of my phone yesterday he again asking for that and I do and there was a tab of instagram which was belongs to my roommate it was her I'd open in my chrome browser where she only wants to delete the I'd which she did from my phone these instagram thing happened approx one year ago but when he saw this I told him that was not mine but he continuously said I am cheater I cheated with him again he was like I know you have two mobile phones and you cheated with me. I love him soo much but he cannot try to accept that . Even I don't talk to my male classmate because he didn't want ki main kisi boy se baat karu Is it fair , am I cheater ? I love him unconditionally I support him in all his career or decision but again he was like I cheated with him we are in long distance relationship but I can't cheat him . Literally I am feeling depressed ????

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Best Wishes.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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