Help Me Out Guys...!!

Hi All..This Is Santosh.
My Father Had Brought 500 Shares Of Andhra Bank Long Time Back In Physical Form And It Was Not Dematerialised. He Expired 2 Years Ago.Now We Were Neither Able To Trace Out The Physical Certificates Nor The Details Of the Broker From Whom My Father Brought The Shares.

So I have Approached A Stock Consultacny, They Told Me That They Can Get The Duplicate Certificates And Dematerialise It, But For That They Will Take 200 Shares And Willl Give Me 300 Shares..

I Don't Want To Give Such A Huge Comissions, After All it's My Father Hard Earned Money.So I Want To Know If There Is Any Other Option Available To Do It Myself Instead Of Losing So Many Shares To the Consultancy Firms.

Thnq..

This is what you should do –

1. Write a letter to the Company Secretary of Andhra Bank, making a mention that your father was holding the shares of Andhra Bank in physical form. You need to give full name and address of your father. Letter should be sent to the address of the registrar of the bank. You will get the addres through Google search.

2. In this letter, inform the bank that your father has expired and you are not able to locate the shares in physical form.

3. Attach a copy of the death certificate of your father.

4. Ideally, if this letter is sent in the name of your mother, there are lesser problems. Letter from any other person will lead to a need to prove your right to those shares as a successor.

5. Preferably, send the letter by registered post and also send an additional copy under certificate of posting.

6. Usually, you should receive a reply from the company, wherein the details of the shares held, such as the Folio number and number of shares, is mentioned.

7. Usually in such cases, company may ask you to register a police case for the loss of shares, and to send a Xerox copy of the complaint registered to the company.

8. Company may also ask for an indemnity bond.

9. Whatever letter you get from the company in reply to the letter sent in the name of your mother, must be preserved until either the share certificate is received in duplicate or the shares are dematerialized. Note the correct address for the registrar of the company, as mentioned in the letter.

It is NOT an easy process. Even if you manage to get this all done in an year’s time, consider yourself lucky.

Good Luck!
SS

NICE ADVICE
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