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Investor
Service
All share
related matters viz., transfer,
transmission, transposition,
nomination, dividend, change
of name / address / signature,
registration of mandate / Power
of Attorney, replacement / split
/ consolidation / demat / remat
of shares, issue of duplicate
certificates etc. are being
handled by the Company’s
Registrars and Transfer Agents
(R&TA) M/s. Link
Intime India
Private Limited (LIIPL).
Investors are requested to correspond
directly with LIIPL, on all
share related matters.
The Company has an established
mechanism for investor service
and grievance handling, with
LIIPL and the Company has designated
its Company Secretary as Compliance
Officer.
The Company has prescribed service
standards for various investor
related activities being handled
by LIIPL. Any deviation there
from is examined by the Company
who also advise the corrective
actions thereon and inform LIIPL
on the matters on a monthly
basis.
The Board of Directors of the
Company has constituted a Transfer
/ Investors’ Grievance
Committee (the Committee) which,
inter alia, approves issue of
duplicate certificates, Splitting
of share certificate and oversees
and reviews all matters connected
with share transfers and other
processes. The Committee also
looks into redress of shareholders’
complaints related to transfer
of shares, non-receipt of balance
sheet, non-receipt of declared
dividend etc. The Committee
oversees performance of the
R&TA and recommends measures
for overall improvement in the
quality of investor services.
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Dematerialisation
/ Rematerialisation of Shares
Although
India had a vibrant capital market
which is more than a century old,
the paper-based settlement of trades
caused substantial problems like bad
delivery and delayed transfer of title
till recently.
The Depositories Act, 1996 has been
enacted to regulate the matters related
and incidental to the operation of
Depositories and demat operations.
National Securities Depository Limited
(NSDL) and Central Depository Services
Limited (CDSL) are the only two Depositories
in operation.
The enactment of Depositories Act
in August 1996, Dematerialisation
/ Rematerialisation of Shares came
into existence.
Dematerialisation
of Shares (Demat) signifies the conversion
of a share certificate from its present
physical form to electronic form for
the same number of holdings and vice
versa.
It is direct application of scope
provided by the tremendous progress
made in the area of Information Technology,
whereby voluminous and cumbersome
paper work involved in the scip based
system is eliminated.
It offers scope for paperless trading
through state-of the art technology,
whereby share transactions and transfers
are processed electronically without
involving any share certificate or
transfer deed after the share certificates
have been converted from physical
to electronic form.
Demat attempts to avoid the time consuming
and complex process of getting shares
transferred in the name of buyers
and also aims to shirk inherent problems
of bad deliveries, delay in processing
/ fraudulent interception in postal
transit, etc.
Demat is optional and an investor
can still hold shares in the physical
form. However, the Investor has to
demat the shares if they are to be
sold through Stock Exchanges. Similarly
if an Investor purchases shares they
will be delivered in demat form.
Rematerialisation of Shares (Remat)
is the term used for converting electronic
holdings back into Certificates.
The shares of the Company are being
traded in Demat form from 1998.
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Benefits
of Demat
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Immediate
transfer of shares. |
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No formal registration
required. |
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No
stamp duty applicable. |
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No additional holding/transaction
cost to Shareholders pursuant to SEBI
directions of January 28, 2005. |
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No
requirement for approval of Board of
Directors of the Company for transfers. |
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Quick
settlements. |
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Shareholders
need not worry about the space required
for preserving certificates in case
of large holdings. |
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Avoidance
of loss through loss in transit, theft,
mutilation, forging of share certificates. |
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Widely
accepted for pledging against borrowings
with lower interest rates. |
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SEBI
Guidelines prescribe further issues
in electronic mode only. |
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Facilitates
the Company to determine entitlements
easily and faster. |
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Details
of investors are obtained from the Beneficiary
Position (Benpos) and hence cannot be
manipulated by companies. |
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Dematerialised
shares can be rematerialised or changed
into physical form whenever the shareholder
so wish. |
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Transfer
of Shares
The shares of the Company are under compulsory
Trading in Demat form only. However, Internal
Transfers are considered
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Transmission of Shares
The Word “Transmission” means
transfer by operation of law i.e. devolution
of title to shares. This would include devolution
by operation of law, death, bankruptcy, marriage.
If the shares were held in single name, the
successors or beneficiaries under a Will executed
by the deceased would be the persons in whose
favour the shares would be transmitted. In
order to expedite transmission of shares,
please submit all the share certificates along
with any one of the following documents, viz.
Succession Certificate or Probate of the Will
or Letter of Administration or Legal Heir
Certificate / Survival Certificate issued
by competent authorities of the Government
If the shares are held in joint name(s), please
submit a certified copy of the Death Certificate
of the deceased shareholder along with all
the relevant share certificates so that the
name deceased could be deleted from records
as well as the certificates.
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Transposition
of Shares
Transposition of names of shareholders i.e.
change in the order of names does not require
any Transfer Deed or Share Transfer Stamps.
Transposition would be done of the entire
holing in any folio.
Such request has to be submitted duly signed
by all shareholders and submitted along with
all the original share certificates.
Share certificates along with a request letter
duly signed by all the joint holders may be
sent to the Company’s R&TA for change
in order of names
Transposition can be done only for the entire
holdings under a folio and therefore, requests
for transposition of part holding cannot be
accepted by the Company / R&TA.
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Duplicate
Share Certificates
In case of torn, mutilated
or lost share certificates, the shareholders
are eligible to receive duplicate share certificates
in lieu of the same. The shareholders have
to surrender their original torn or mutilated
share certificates to the Company, along with
a request for issue of duplicate share certificates.
The shareholder should inform the Company
immediately the loss of share certificates
to register a ‘STOP TRANSFER’
in the system to enable not to proceed with
any further transaction on the said share
certificates.To give the stop transfer effect
shareholder should serve upon a notice from
competent court of law.
The shareholder should submit the following
documents to obtain Duplicate Share Certificates
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An
Indemnity Bond to be executed on a Rs.
200/- Non Judicial Stamp Paper in favour
of the Company and the bond should be
notorised |
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A
notorised Affidavit to be executed on
Rs. 100 Stamp Paper. |
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Copy
of FIR |
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Demand
Draft of Rs. 3000/- for publishing Advertisement. |
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Bank
attestation letter |
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Change
of Address
The Shareholders
who hold share certificates in physical form
are requested to intimate their change of address
duly signed by all holders to the Registrar
along with the following :
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The
old address |
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The
detailed New address along with the pin
code |
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Telephone
no. / other contact no. / Email address |
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The signature
on the request of change of address should
tally as per the specimen signature recorded
with the Company / Registrar. |
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A
Copy of Telephone bill / Electricity
Bill / any other document evidencing
the new address should form as enclosure
of the request of change of address. |
The shareholders who hold shares in
electronic form, are requested to intimate
their change of address to the depository
participant with whom they maintain their
demat account and not to the company or the
share transfer agent.
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Nomination
of shares
Section 109A of the
Companies Act, 1956 provides the facility
of nomination to share holders.
Nomination enables smooth inheritance of ownership
of the shares by the Nominee without any procedural
difficulties. (Presently, there is no difficulty
where shares are registered in joint names.
But if the shares are held in an individual
name, addition of a joint name can only be
done as a transfer, involving share transfer
form, stamp duty, surrender of original certificates
etc. Following the nomination procedure eliminates
all this inconvenience) Therefore, if shares
are held in a single name, with the intention
of holding them for some more time, then please
advise nomination immediately without delay.
In the case of joint
holding of shares by individuals, nomination
will be effective only in the event of the
death of all joint holders.
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Bank Details
/ Mandate
The shareholders
holding shares in physical form are requested
to inform their Bank Details / Mandate (New
/ change ) duly signed by all holders to the
registrar along with a photo copy of cancelled
cheque.
The
shareholders holding shares in electronic form
are requested to inform their Bank Details /
Mandate (New / change ) duly signed by all holders
to the Depositary Participant along with a photo
copy of cancelled cheque.
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