DEMAT Query need help?

Please bear with me as this may be a trivial situation. I am just figuring out stuff with the Indian market nuances.

Here is the situation

A dear friend of mine has some very old stock certificates ( physical in her name). These go back a while and mostly were IPO allotmetns. The list includes TITAN, Reliance PEtro ( IPO issue!). India Glycol, Titan Industries etc.

She had some serious health issues and could not pay attention hence addresses etc were not changed- and it is a financial mess.


I tried to help her with some Mutual Funds - like changing names, getting refunds for funds that closed etc. To say the least it is a frustrating process.

My questions are the following

1. What would be the best way to get these share to an electronic form?

2. Should she first initmate an address change and then go to the Demat format- or she can just change the address for the Demat account and the companies that can udpate their entries

3. What can we do about dividends that most probably were returned? How frustrating will it be to get them to pay her past dividends - share splits etc etc

4. I am particulay worried about Reliance Petroleum. After she go shares via IPO- there was a merger and then again the famous demerger. I dont want to even think about how this process will work?

5. Is there a relialbe third party who you can suggest- that will do the follow up and get things up to date- I am willing to pay for the service if they are reliable. She is Delhi based- so prefer someone locally.

Appreciate your answers and pointers

Srikanth

HI Srikant,
now thats some query man. suggestion number 1, take all of the matters one by one. and let it take its own time to get resolved. these matters will take lots of time to get resolved but they will definately get resolved.
now ur answers.

1. to get them into electronic form all you have to do is to fill up a form called " dematerialisation request form", for this just contact ur DP i.e depository participant. fill up the form and attach the certificates, for each company use seperate demat form. wat we call it in short. let me tell u this procedure if goes well without any rejections will take not less them 45 days. the DP will collect the form and will send them to the respective registrar. if the registrar records match especially the signatures of the shareholder then there should not be a problem.

2. you need not change anything for that, watever is the address in your demat account will be sufficient enough. the other things like the name of the shareholder, especially the signatures should tally with wat the registrar has in his records,once it is ok, no probs.

3. dividends, as per my knowledge you can claim the dividend within six months from the day of isuue, no problems inthat. but what i suggest is that u forget the monetry dividend. if at all you got some dividend warrants not encashed by you , just send it to the respective registrar of the company and they will tell u the rest. for registrar details you should call your DP's customer care , they will be able to give u the address of the registrars. regarding stock splits keep reading hehehee

4. Reliance pertoleum case. there are certain share certificates which are issed prior to some day may be before 1992 or something. those share certificates are not available for dematerialisation. check this date with ur depository participant. the date of issuance of the certificate is there on the certificate itself. if they are issued after that date and are available for dematting then no probs , just follow step one as i wrote above, if not then get in touch with the registrar. most probably you will have to despatch the old certificate the the company registrar and they will inturn return you the new certificates. once u got the new certificates you can follow step one hehehehee. and here comes ur stock split. watever is the corporate action , it wil be taken care by the registrar while dematting them , the net effect will be given to you automatically. but it is always wise to speak to the office of the registrar before sending those type of old certificates either to the registrar or to ur dp for dematerialsation. remember for dematting the share u should only appraoch ur DP and not the registrar.
5. there are no reliable third parties int his case, you need to do everything by yourself, just remeber wat ever you are doing make a note of it in some diary, the date and action taken by you, take sufficient xeroxes of the docs ur sending to someone. dont foget to take the acknowledgement from your DP for docs submtted with them. and if at all after all this you find any problem, just write to me man_420@rediffmail.com you are most welcome for that. infact if anyone got any real problem ill be glad to assit. and dont go on the look of my id am not a 420 that id was made i dont know how may years ago when i first learnt the email. so dont worry. hehehehehehee

byeeeeeeeeeeee

best of luck

and yes i wont charge too.

hahahahahahahahahahahahaahah

madie

Thnaks for the detailed response. I spoke to people at Karvy and frankly I was surprised how helpful they were ( well I got bounced around 3 times)

gottomlime they told me they will fix it in 5 working days- so it is not that bad.

Again I apprecieate the detailed response.

but again man , i told u exactly wat is required from your part. do not trust those people too much , one thing u will also agree is that the process remains the process , no matter who is doing it. although karvy are the registrar themselves. so they will be in better position to assit you. but as i told u , do make notes of watever u do. it will be always better for future reference.

best of luck

bye