Transfer of shares in physical form

This query is : Resolved

Yeluru Gopi Krishna (Querist)
Follow

26 March 2012 FRNDS..,
MY PARENTS ACQUIRED 900 SHARES JOINTLY IN 2003 ISSUED BY ANDHRA BANK THROUGH MCS LTD(STOCK BROKING CO). I NEED DETAILED PROCEDURE FOR GETTING THOSE SHARES TRANSFERED ON MY NAME.

Ajay Mishra

Ajay Mishra (Expert)
Follow

26 March 2012 Hi

Please informed, whether you have demat account or not in your name?

VIVEK SHARMA

VIVEK SHARMA (Expert)
Follow

26 March 2012 To transfer shares in your name, your parents will have to fill transfer deed. In the transfer deed, they will have to mention that the shares are being transferred in your name. With the duly filled in transfer deed, you will have to attach the share certificate and send it to the share transfer agent of Andhra Bank. They will transfer the shares the shares in your name. This process may take 10 to 15 days. The entire process explained is for physical shares. Please do not forget to pay stamp duty which you will need to stick on transfer deed.

Yeluru Gopi Krishna

Yeluru Gopi Krishna (Querist)
Follow

26 March 2012 Thank u Mr.vivek sharma & Ajay mishra.I'm having DEMAT a/c .Is it possible to open demat a/c jointly on my parents name & dematerialise those shares and transfr it to my account.

Ajay Mishra

Ajay Mishra (Expert)
Follow

26 March 2012 Hi

You can open joint account and its your solely name depend on you.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now