Help in Transfer Form

Discussion in 'Beginners Guide' started by DWeeP, Nov 7, 2008.

  1. DWeeP

    DWeeP Member

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    [​IMG]

    I want help at 3 places marked with ? in the image.


    1. Which exchange should i mention in the field?

    2. should i write consideration price of a single share or total no. of shares.

    Like if i m writing for SBI share should i write price of one share i.e. 991 (27-Oct) or should i write total for 10 shares i have (=9910) ?

    3. (look below) Which company code should i write ?
    i assume that i should write code for the exchange that i write in above query 1?

    I am bad at editing.

    Paper work is always boring.

    Thanks for helping.
     
  2. prakashreddy

    prakashreddy Active Member

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    Forget about all these things. My query is

    Do you have necessary share transfer stamps to be affixed?

    If yes, then only bother about filling and sending this form.
     
  3. prakashreddy

    prakashreddy Active Member

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    Still to satisfy your curiosity,

    1. Name of the exchange is that exchange from where your broker brought those shares.

    2. IMO, it is the total consideration as the stamp duty is to be calculated on the total consideration. But verify before you fill it up. I am saying it from my memory, which runs as far back nearly 15 years. So I am not quite sure.

    3. Company code is ISIN number or any other equivalent number, if there is any. But verify this point also.

    Not only this, I think this share transfer form must bear the sign and seal of broker. Verify. 15 years is too long time for my pint sized brain
     
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  4. DWeeP

    DWeeP Member

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    Thank you sir for replying.
    Of course i have necessary stamps to be affixed as 0.5% of total value of shares.

    The shares are >15yrs old, have not been traded on any exchange are of IPO.
    There is no broker involved.

    so, i feel that

    1. i can write any - bse/nse

    2. still waiting for clarification

    3. thanks i think it will be isin no.

    It'd be good if anyone can confirm the facts.
     
  5. prakashreddy

    prakashreddy Active Member

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    Here are the problems.

    1. Share Transfer Form has got validity period. I think you cannot use a share transfer form which is beyond six months old. I am putting too much strain on my memory. Check

    2. You have to quote the price at which you have purchased it, i.e. exchange traded price (i.e. any price between high and low price for the date of purchase). You say it is not traded for the last 15 years. How are you going to quote the price?

    3. I think sign and seal of broker (both buyer and seller) is compulsory. That is insisted so as to fix resposibility in case something goes wrong. How are you going to solve this problem?

    4. You say, the shares are allotted in IPO about 15 years ago. Is the person to whom shares are allotted alive? If not, you cannot put a date subsequent to his death and if you are going to put a date which is older than six months, everything will go horribly wrong. Ofcourse, this depends upon the correctness of the first point highlighted by me. So please verify.
     
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  6. DWeeP

    DWeeP Member

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    1. Transfer forms are in validity period they are recent (july 2008). The period is 1yr as per me.

    2. I can quote any price from the date of validity of transfer form till date. i ll obviously choose price of 27-0ct which ll be lowest so i ll have to pay less stampduty. I clarify that i am asking about L&T share, my father has not traded the share alloted to him since ipo. other shares of L&T are ofcourse traded on BSE/NSE and i can quote price.

    3. Broker is not necessary. especially when they are blood relatives between buyer and seller( better call transferor and transferee) . Here is this case, me and my father/mother/aunts.

    4. Yes the person(s) are alive, they have signed transfer form.

    All other things are sorted out. I just wanted help in above mentioned points.
    Thanks.
    waiting for further replies.
     

  7. prakashreddy

    prakashreddy Active Member

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    It was long long time since I was involved in the share transfer contained in physical certificates. I still remember those horrible days when we did not get share certificates in time and when exbonus/exdividend/exrights date approached. During CCI (controller of capital issues) regime, even rights issues were also regarded as bonus. I still remember those days when I was allotted L&T shares at Rs.60/- or still less. I am still holding those shares. People purposely used to vary their signature so that when certificates are sent for transfer, they will be returned stating that there is difference in signature. It took several months even to get this reply. Quite horrible time. In my area Govt. stopped printing share transfer stamps (yes, these stamps are quite different from all other stamps) several years ago. So now there is no possibility of sending any physical share certificates for transfer. Companies are not accepting the stamp duty either in cash or in cheque/D.D. etc. So now if we have physical share certificates, we will open demat account in the name of account holder and then send it for demat and after demating them, we transfer them. I had nearly forgot the whole procedure and hassel. Your thread revived my old memories including the memory of trading on stock exchange floor. Yes the old outcry system.
     
  8. filament

    filament New Member

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    in case it's not possible to open a demat account in the share holder's name, what can be the possible solutions? someone suggested getting a share transfer form from the stock exchange, but I don't have a clue! is this form available online in BSE/NSE sites?
     
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