Difference of names in Paper Shares and Demat Account

[KaustubhSuyal]

I have a query related to dematerializing share certificates which are currently in paper form..
My mother owns a number of share certificates of Reliance group.
She wants to transfer these funds to my name.
We know the process of dematerializing shares but there is an issue.
The name printed on the share certificates is just her first and last name (without middle name).
however, her name in her demat account (with ShareKhan), bank accounts etc includes her middle name as well.
Does she need to transfer the paper shares to her name as in bank accounts and demat account?
Or can she directly transfer them to my name and I can them dematerialize them.

Can you please guide on how to demat these share certificates and what process we need to follow?
Your help will be highly appreciated.

 

[SavantGarde]

Hi Kaustubh,

It perhaps may not be necessary to change the name as it appears in Demat Account... unless it gets rejected by the Depository

Presently the requirement for the name in Demat & Trading Account has to be as it appears on the Pan Card....

Hence, the difference between the two.

Happy & Safer Investing

SavantGarde

 

[KaustubhSuyal]

Thanks SavantGarde!

Names on the pan card and demat account are same. Issue is with the shares in paper form. Name printed on them is different from the actual name.

Also, what procedure we need to follow to demat these shares. Shares are of Reliance Industries.

 

[SavantGarde]

Kaustubh

From your initial post I gathered that First name & last Name appears on the Physical Shares .... but Demat Account & Trading Account Have the names as per pancard therefore the first name & last name should be common to all.

If it is as mentioned above then there shouldn't be a problem....
...but if there is a spelling difference between the two.... then the physical shares will need to be sent to the registrar for the same...

There is a procedure & form for everything as far as Demat & DP is concerned.

Can't elaborate each procedure here.... suggest you Contact the Demat Department of Your Broker Where you have the Demat Account.

SavantGarde

Thanks SavantGarde!

Names on the pan card and demat account are same. Issue is with the shares in paper form. Name printed on them is different from the actual name.

Also, what procedure we need to follow to demat these shares. Shares are of Reliance Industries.