Infinysolutions

Every company that issues capital has to give a share certificate to show the owners of the shares. It is duly stamped and signed by the director or by the authorized person under the common seal of the company. The number of shares purchased, the certificate number, the shareholder’s name, and address, the company’s name, and address, and many other details are listed on the share certificate. You should keep your share certificate safe because it serves as the initial proof that you are the owner of the company share. The misplacement or loss of the share certificate will affect you financially, as you will not have any proof of the ownership of the shares. If you have also misplaced or  lost your share certificate , there is no need to worry because the company issues a duplicate certificate. The  company can issue duplicate share certificates   only when: The original document should be proven lost. The original certificate that got damaged or torn, should be handed o...

  Whenever we begin our investment journey, all we are concerned about, is completing the paperwork, getting the account opened, and raking in the big bucks. Seldom does our eye go to the little column that asks us to put a nominee for our investments. While investing, having to put down a nominee may seem unimportant but your next of kin will be eternally grateful if you do so. In the absence of them being listed as a nominee, the next of kin has a hard time claiming the recovery of shares and any other assets attributed to the deceased. A number of financial agencies are beginning to make assigning a nominee compulsory, but most investors continue to ignore the practice. What is it A nominee is typically an individual who has been designated by the asset’s owner to be entitled to his asset in the case of the owner’s death. The title, the property, and the benefits all accrue to the nominee in such a case. Appointing one ensures that your shares get passed on to your trusted membe...

In India, KYC has been in existence since 2002 and became mandatory in 2004 by the RBI. Still, people have very little knowledge about it and there is a lot of confusion about its need, updates, documentation requirements, purpose, and many others. That’s why, in this article, all these confusions are cleared by answering everything you need to know about KYC and the updation of KYC’s and signatures. Let’s start. What is KYC and why is it needed? First of all, let’s learn about the full form of KYC. KYC is an acronym for “Know Your Customer” or “Know Your Client.” Updation of KYC’s and signatures is a mandatory and legal procedure that is being done by financial institutions like banks, mutual fund houses, etc. This is to make sure that the identity of the customer is real and accessible. This helps in the prevention of any fraud or illegal financial activity. The updation of KYCs includes verification of the customer’s identity, signature, address, etc. There is a need for KYC to ope...

  A transfer is defined as the moving of an asset. Physical mobility, asset ownership, or both may be considered movements. This movement may be voluntary or mandated by legislation in the case of securities. In order to clearly explain the concept of the Transfer and Transmission of Shares and make them easier to distinguish from one another, we must first learn the meaning of some terms that are frequently used in connection with them. The transfer of shares occurs through a contract and is a voluntary act on the part of the shareholder. The transfer of shares occurs as a result of the law's operation upon the death of the shareholder or in the event that the holder becomes bankrupt or insane. Definition of Share Transfer The intentional transfer of ownership of the shares between the transferor (one who transfers) and the transferee is referred to as a transfer of shares (one who receives). A public corporation's shares can be freely transferred unless the company has a goo...

Many investors put their money into shares, but they either forget to claim them, or they expire before they can be used. In these situations, the money is left unclaimed for a very long time. The Investor Education and Protection Fund (IEPF) was thus established by the Ministry of Corporate Affairs (MCA) to ensure that the unclaimed shares might be transferred to and received by the appropriate party by performing the procedure of IEPF shares claim . Who May Submit a Share Recovery Application to the IEPF Authority? By giving an application to the IEPF Authority, any shareholder for whom the unclaimed shares have been forwarded to the IEPF may request a refund of those shares. The claim of Share from IEPF Procedure ● Step 1: filing by the claimant with authority A claimant should submit Form IEPF-5 on the MCA site if they want a refund or obtain their shares back in their name. On the form, the claimant must fill out the following details: ● Information about the application (clai...

The Investor Education and Protection Fund (IEPF) was founded by SEBI and the Ministry of Corporate Affairs. It serves as safe custody for shareholders’ funds and collects all dividends from asset management companies, matured deposits, shares application interests, debentures, and other interests that have been unclaimed for at least seven years. The IEPF provides investors with a much-needed break by gathering and combining funds from all the aforementioned sources. Investors can use this platform to request reimbursement for their unclaimed shares . The rightful owner/successor has experienced excessive stress, confusion, and anguish as a result of the lost shares . In order to facilitate the transfer of securities, SEBI further announced on March 28, 2018, that requests for transfers other than transmission or transposition would not be honored unless the securities are held in a depository’s dematerialized form. On April 1, 2019, this rule became effective. The aforementioned rule...

  Nowadays, many people are investing their money into shares. However, when the time comes, they forget to claim their money or claim their money after the expiry date. In those situations, the money remains unclaimed for several years. To solve this issue, the Ministry of Corporate Affairs or MCA has introduced the IEPF or Investor Education and Protection Fund to make sure that those unclaimed shares can be legally transferred and even received by the eligible person. Now, you may need to know about the procedure of IEPF shares recovery . So, to help you out, here is the details of the procedure. The shareholders of a company can receive a refund of their unclaimed shares . Here is the detailed procedure for your help: Transfer of unclaimed shares A company needs to transfer the shares where the dividend has remained unpaid or even paid for a time period of more than seven years to the IEPF with accrued interest. For this, the company needs to submit the detailed information of...