Can I recuperate my misplaced MRF share certificates?

I bought shares of MRF Ltd. 15-20 years again in bodily kind. But over a time period, I misplaced the certificates and because of a change in my handle a number of occasions, I’m not in receipt of any communication from the corporate. I solely have a photocopy of the share certificates purchased initially. Can I recuperate my shares and what can be the method?

Answer: This occurs with quite a lot of traders. If you’ve gotten misplaced your bodily share certificates of MRF Ltd, that you must write to the corporate by offering a replica of the share certificates and your KYC paperwork like PAN, Aadhar and Bank particulars asking for the standing and process for duplicate difficulty of shares. Generally, Registrar & Transfer Agent (RTA) is the communication level for shareholders’ queries, however within the case of MRF, the method is being dealt with by them internally somewhat than RTA. Over the interval, MRF would have additionally issued bonus shares in your current holding. Thus you’ll even be eligible for these company advantages. Once the corporate verifies your paperwork and KYC, the corporate will offer you the process of duplicate problems with shares and the present standing of your holding as effectively.

Duplicate difficulty of shares by means of getting a Letter of Confirmation from the corporate includes the submitting of the police report for a misplaced share certificates, giving an commercial within the newspaper. There are sure different formalities similar to new handle submission, signature verification and many others to be accomplished and submitted to the corporate. Further, since your handle was modified a number of occasions, you’ll even have missed the dividends declared by the corporate yearly.

If your dividend additionally remained unclaimed for greater than seven years, your shares and dividend would even have transferred to IEPF (Investor Education and Protection Fund). IEPF is a fund managed by the federal government, whereby it acts because the custodian of unclaimed shares and dividends. After the institution of your declare with the corporate, additionally, you will be required to file the declare with IEPF to say your shares again. Please notice that in your case after doing all of the formalities, both you’re going to get a Letter of affirmation as a substitute of a brand new duplicate bodily certificates which will be submitted for demat. If the shares are in IEPF, then the identical will instantly be credited based mostly on the entitlement letter from the corporate.

Vikash Jain is co-founder at Share Samadhan Limited

Catch all of the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Subscribe to Mint Newsletters

* Enter a sound e-mail

* Thank you for subscribing to our e-newsletter.