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| Discuss Dematting, signatures & power of attorney at the Brokers & Demat Matters within the Traderji.com - Discussion forum for Stocks Commodities & Forex; I am new to this. I need to DEMAT some shares and have two questions: ... |
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#1
9th October 2008, 12:30 PM
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Dematting, signatures & power of attorney
I am new to this. I need to DEMAT some shares and have two questions:
1.I have shares acquired by a PoA holder in my name. To DEMAT these I believe there is a checking of signatures. Since I did not sign for the shares, how do things happen. Do I necessarily have to get the power of attorney guy to do this or submitting the shares for dematting with my signature is OK ? 2. I have Reliance Energy shares that need to be dematted. But the company is now Reliance Infrastructure. Do the shares need to go back to the company before dematting ? Can someone help. Thanks 
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#2
10th October 2008, 01:03 PM
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Re: Dematting, signatures & power of attorney
1. I did not understand your question. Do you mean to say that shares were in someone else's name and you got them transferred to your name using share transfer deed? Please clarify?
2. No problem with change in name. You need to fill a demat applicaiton form and surrender your reliance energy physical shares with your broker and he will do the needful.
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| The Following User Says Thank You to Tdarer For This Useful Post: | ||
vesa50 (10th October 2008) | ||
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#3
10th October 2008, 03:14 PM
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Re: Dematting, signatures & power of attorney
Thank you for the help
Part of the shares were inherited and transferred to my name. Some bought later. All this was done in practice by my power of attorney (PA) holder. So my question was with respect to signatures. Presumably the PA's signature should figure in various requests. I believe in dematting the shareholder's signaturre is checked at some point. Since will apply for dematting myself, I am not sure what exactly happens.
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#4
10th October 2008, 06:29 PM
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Re: Dematting, signatures & power of attorney
ok...got your point. I do not know the answer to your question but since the shares are in your name, you should not face any difficulty in getting them into your demat account. PoA was just an agent acting on your behalf. His signature are of no consequence once you get shares in your name.
Better talk to your broker. He will be able to help you better.
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| The Following User Says Thank You to Tdarer For This Useful Post: | ||
vesa50 (11th October 2008) | ||
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