Part – 4 Investor Services

Investors holding shares in physical form and wishing to have the dividend transferred directly to their bank account may submit the bank mandate form, duly filled in, to the Company’s RTA. The same is available for download in the Formats section of this page. The bank mandate letter should be accompanied by a cancelled cheque leaf with name (if name is not printed, self-attested copy of the pass book first page) of the shareholder and self-attested copy of PAN card of all the holders.

  • For Shares held in Physical form, any change in bank account details should be intimated to Karvy and not to the Company.
  • For shares held in electronic/demat form, Bank Mandate should be intimated to the DP and not to the Company/Karvy.

Pursuant to the SEBI circular dated 20th April 2018 on "Strengthening the Guidelines and Raising Industry Standards for RTAs", shareholders are requested to provide the following to the Company to update the Company’s records:

  • Request letter duly signed by all the shareholders;
  • Self-attested copy of PAN Card of all the shareholders and address proof
  • Cancelled Cheque leaf with name (if name is not printed, self-attested copy of the pass book first page) of the first named shareholder;

Shareholders holding shares in physical form may send a request letter, duly signed by all the holders (as per the specimen signature recorded with the RTA), giving the details of the new address along with Pin Code, to the Company’s RTA. Shareholders are requested to quote their folio number(s) and furnish proof of new address such as attested copies of Ration Card/Passport/Latest Electricity or Telephone Bill / Lease Agreement, Aadhaar card, etc. If shares are held in dematerialised form, information about change of address needs to be sent to the DP concerned.

A shareholder needs to execute a Power of Attorney in favour of the concerned person and submit a notarised copy of the same to the Company’s R&TA. After scrutiny of the documents, the RTA shall register the Power of Attorney and inform the registration details to the shareholder concerned. Whenever the Power of Attorney holder proposes to enter into a transaction, the registration number mentioned above should be quoted in the correspondence.

  • All requests for change of name should be accompanied by a copy of notification in Official Gazette or a Newspaper.
  • Request for change of name consequent upon marriage/divorce should be accompanied with marriage certificate/divorce decree.
  • For effecting change of status from minor to major, please send proof of age (such as attested copy of Birth Certificate or School Leaving Certificate).
  • In the case of limited companies, a certified copy of the Certificate of Incorporation consequent to Change of Name issued by the Registrar of Companies should be submitted along with Memorandum & Articles of Association
  • Nomination will enable smooth inheritance of ownership of the shares by the Nominee without any procedural difficulties. In the absence of nomination, transfer of title is a cumbersome process involving multiple documentation. Hence, it is recommended that nominations are registered without fail.
  • Nomination can be made only by individuals holding beneficiary accounts on their own behalf either singly or jointly. Other entities including society, trust, body corporate, partnership firm, karta of Hindu Undivided Family, holder of power of attorney cannot nominate. Only an individual can be a nominee.
  • A minor can be a nominee but the guardian will sign on behalf of the nominee and in addition to the name and photograph of the nominee, the name, address and the photograph of the guardian must be given in the case of the Minor.
  • NRI can nominate directly. But, the power of attorney holder cannot nominate on behalf of NRI. NRI can be a nominee subject to the exchange control regulations in force from time to time.
  • Nomination will enable smooth inheritance of ownership of the shares by the Nominee without any procedural difficulties. (Presently, there is no difficulty where shares are registered in joint names. But if the shares are held in individual name, addition of a joint name can only be done as a transfer, involving share transfer form, stamp duty, surrender of original certificates etc. All this inconvenience is eliminated by following the nomination procedure).
  • Investors wishing to avail this facility may fill up the Nomination Form (SH-13).


Shares held in the individual name

If the shares are held in the sole name without any joint holder/s - Upon the death of the sole holders, the securities would be transmitted to the nominee.


Shares held jointly

Nomination is permitted for accounts with joint holders. But, in case of death of any of the joint holder, the securities will be transmitted to the surviving holder(s). Only in the event of death of all the joint holders, the securities will be transmitted to the nominee.

Any investor holding shares in physical form should submit the nomination form duly filled and signed to Karvy along with the Identity and Address proofs of the Nominee.

Any investor holding shares in demat/electronic form should contact his DP directly for nomination (the company/Karvy does not register nomination for shares held in electronic/demat form). Normally nomination can be done at the time of opening the demat account itself.

Shares held in physical form

Transferee(s) needs to send share certificate(s) along with share transfer deed(s) in the prescribed Form SH-4 as per the Act, duly filled in, executed and stamped as per the Stamp Act applicable in the state/place at which it is executed and also the duly attested PAN of the transferor(s) as well as the transferee(s) to the Company’s R&TA.


As regards holding of shares in physical form, the following to be kept in mind for transfer of shares:

  • Please ensure that all columns of the transfer deed are filled properly and transfer deed signed at the appropriate places. Share transfer stamps at the rate of 0.25 paise for every Rs. 100 of the market value/consideration of shares, whichever is higher as on the date of execution of transfer deed has to be affixed on the back of the transfer deed and the stamps affixed be cancelled by crossing lines or by writing name.
  • Where the transferee has signed through a Constituted Attorney, please attach the necessary Power of Attorney duly registered and obtain a registration number from the Company. If Power of Attorney has already been registered with the Company / Karvy in respect of shares already being held, the registration number of the Power of Attorney may be mentioned in the transfer deed.
  • Please always furnish full address including Pin Code Number. Incomplete address may cause delay or non-delivery of share certificate(s), notices, annual reports, dividend warrant(s) and other communications. Please always mention contact telephone/fax no /E-Mail address while corresponding with Karvy for better and faster communication.
  • It is advisable to always hold shares in joint names. This will be extremely useful in the event of death of any holder.
  • Please keep photocopies of share certificates, transfer deeds and other documents before lodging shares for transfer and also proof of mailing the documents to the company, acknowledgement card, slip, receipt etc. Please preserve contract note issued by brokers for share purchase/ sale. These will be useful for sorting out any issue, problem or query on a later date.
  • If one is already a shareholder of the Company in the same name(s), please mention the existing folio number while lodging shares for transfer. This will help to consolidate holdings in one folio.
  • Please always keep a copy/record of specimen signature lodged with the company at the time of applying for new shares or lodging transfer documents for transfer of shares as transferee. This will help in signing in the same manner as per the specimen signature lodged with the company to avoid any difficulties/complications that may arise due to signature difference. Please sign all correspondence as per specimen lodged with the Company mentioning the correct Folio No.
  • Any change in shareholder’s specimen signature should be informed to the company immediately with revised signature duly attested by the shareholder’s banker.
  • Any alterations or corrections in the Transfer Deed should be avoided. If it is unavoidable, then the alteration should be authenticated both by the transferor and transferee by signing fully alongside the alteration.
  • To transfer the shares in favour of a minor, please ensure that transfer deed is signed by the parent (Natural Guardian) on behalf of the minor.
  • A Non-Resident should forward RBI Approval while lodging shares for transfer along with particulars of bank account in India, the name and address of the bank for remitting dividend.
  • According to the statutory provisions, when shares are lodged with Karvy with properly executed transfer deed, Karvy is obliged to effect the transfer, unless there is an injunction order of a court prohibiting Karvy from transferring the shares.
  • Conversion of single holding into joint holding, transfer within the family members, etc. lead to a change in the pattern of ownership, and therefore, can be done only through execution of duly stamped Transfer Deed.

Members are informed that pursuant to SEBI (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2018 effective 5th December, 2018, requests for effecting transfer of securities in physical form cannot be processed by the Company unless the securities are held in the dematerialized form with a depository. Hence, investors are requested to consider dematerializing their physical holdings into demat form.

Shares held in demat form

If an investor wishes to transfer his electronic shares, he has to instruct his DP by way of a Delivery Instruction (which is similar to a cheque) to debit his account with the number of shares sold by him and credit these shares to the demat account of the person to whom the shares are proposed to be transferred.

Likewise when he buys electronic shares, he must inform his broker about his depository account number so that the electronic shares bought by him can be credited into his account, also, he has to instruct his DP by way of Receipt Instruction to receive credit in his account. Instead of giving a receipt instruction for each purchase, a standing instruction can be given to the DP.

I. If Nomination has been registered with the Company
Please forward copy of the following documents:
  • Duly signed transmission request form by the nominee.
  • Original or Copy of death certificate duly attested by a Notary Public or by a Gazetted Officer
  • Self-attested copy of PAN card of the nominee. (Copy of PAN card may be substituted with ID proof in case of residents of Sikkim after collecting address proof)
  • II. Where no nomination has been registered
  • Duly signed transmission request form by the nominee.
  • Original or Copy of death certificate duly attested by a Notary Public or by a Gazetted Officer
  • Self-attested copy of PAN card of the nominee. (Copy of PAN card may be substituted with ID proof in case of residents of Sikkim after collecting address proof)
  • Affidavit from all the legal heirs made on appropriate non judicial stamp paper – to the effect of identification and claim of legal ownership to the securities. In case the legal heir(s)/claimant(s) is named in the succession certificate or probate of will or will or letter of administration, an affidavit from such legal heir/claimant(s) alone would be sufficient.
  • If the value of securities is upto Rs. 2,00,000 (Rupees Two lakh only) as on date of application, please forward the following documents:
    • Succession certificate or probate of will or will or letter of administration or court decree, as may be applicable in terms of Indian Succession Act, 1925.

    • In the absence of the documents as mentioned at (i) above,
    • A No objection certificate [NOC] from all legal heir(s) executed by all the legal heirs of the deceased holder not objecting to such transmission (or) copy of Family Settlement Deed duly notarized and
    • An Indemnity bond made on appropriate non judicial stamp paper – indemnifying the Company and Karvy.
  • For value of securities more than Rs.2,00,000 (Rupees Two lakh only) as on the date of application, please forward the Succession certificate or probate of will or will or letter of administration or court decree, as may be applicable in terms of Indian Succession Act, 1925.
III. In case of joint holding The surviving shareholder(s) will have to submit a request letter signed by the surviving holders (as per the specimen signature registered with RTA) supported by original / a copy of the death certificate of the deceased shareholder, duly attested by Notary Public or Gazetted Officer and accompanied by the relevant share certificate(s) and self-attested copy of PAN of the surviving holder(s). The Company’s RTA, on receipt of the valid documents and after due scrutiny, will delete the name of the deceased shareholder from its records and return the share certificate(s) to the surviving shareholder(s) with necessary endorsement.

If it is proposed to change the order of names appearing in the share certificate (i.e. transposition) this does not require any transfer deed or share transfer stamps. Transposition would only be done of the entire holding in any one folio. Part transposition is allowed only through execution of transfer deed.

Such request has to be submitted duly signed by all the joint holders and submitted along with all the original share certificates and self-attested copy of PAN of the joint holders. Transposition is possible only in respect of shares held in physical form.

Any communication to Karvy regarding loss of share certificates should always be signed by the shareholder as per specimen signature registered with the Company, accompanied by:

  • FIR lodged with local police station giving full details of lost certificate(s) such as Certificate Nos., Distinctive Nos. etc.,;
  • Self-attested copies of proof of identity and address of the member;
  • Indemnity Bond in Rs. 100/- non-judicial stamp paper (or e-stamped) in the format prescribed by the Company for issue of duplicate share certificate;
  • Affidavit in Rs. 20/- non-judicial stamp paper (or e-stamped) in the format prescribed by the Company for issue of duplicate share certificate;
  • The communication shall also include a copy of an advertisement published by the shareholder in a newspaper daily regarding the loss of share certificates giving details of shareholder name, folio no., certificate no., no. of shares held and distinctive numbers.

Upon receipt of the necessary documents from the investor, Karvy will intimate the stock exchanges about the loss of the certificates.

Thereafter the request for issue of duplicate certificate will be placed for the approval of the Stakeholders Relationship Committee of the Company.

After approval is received, the share certificates will be sent to the member

Pursuant to the erstwhile Clause 5A of the Listing Agreement, the Company had transferred shares to the Carborundum Universal Limited – Unclaimed Suspense Account in respect of those shares for which the share certificates sent by the Company in 2011 after split of face value from Rs. 2/- to Rs. 1/- per share were returned undelivered to the Company. The Company had sent three reminders to the respective shareholders and had received no valid response, after which the shares were transferred to the Unclaimed Suspense Account.

Shareholders may claim the shares from the Unclaimed Suspense Account by furnishing a request signed by the shareholder as per specimen signature registered with the Company, accompanied by:
  • Indemnity Bond in Rs. 100/- non-judicial stamp paper (or e-stamped) in the format prescribed by the Company
  • Affidavit in Rs. 20/- non-judicial stamp paper (or e-stamped) in the format prescribed by the Company
  • Self-attested copies of proof of identity and address of the member
  • Old share certificates available with the member

On receipt of the requisite documents, the Company shall either credit the shares to the Shareholder’s Demat account (the shareholder is required to provide the Client Master List with the seal of the Depository Participant) or deliver the physical certificates after re-materialising the same, depending on the option of the shareholder. Shareholders are encouraged to claim refund of these shares in electronic mode considering the demerits of holding shares in physical mode.