Transmission of shares at times is hugely cumbersome and runs into many legal complications. We help our clients by providing services relating to entire range of transmission of shares. A few common issues that we come across frequently are as follows:
Mixing up transfer of shares with transmission of shares: One of the widely- experienced problems is not to find out the difference between transfer and transmission of shares. The Companies Act clearly distinguishes transmission of shares from transfer of shares. While transfer of shares relates to a voluntary act of the shareholder, transmission is brought about by operation of law. Unlike transfer of shares, in case of transmission, shares are transferred without any consideration. The transmission takes place on the basis of will or an agreement.
Holding in various companies: In case the deceased shareholder had holdings in different companies, the relevant documents must be sent to each of the companies along with the share certificates in order to effect transmission of shares. This needs constant follow-up with each of the companies.
Jointly-held securities: Problems also arise if deceased was one of the joint holders. In that case the surviving holders must have a depository account and apply for transmission of shares following the due procedures.
An investor may face numerous problems while transferring shares to his name. Wealthmax provides services to investors who encounter following problems:
Mismatch of signature: Sometimes companies deny transfer of shares due to mismatch of the signature of the transferor in the transfer deed and specimen signature available in company records.
Non-submission of transfer deed: The buyer has paid the consideration but has not submitted the transfer deed with the company. Consequently, as per the company records, the shares still remain in the seller’s name.
Loss of share certificates: A shareholder may loss share certificates, hence, denying him from valuable possession of his investments. The shareholder has to get duplicate share certificates in his or her name from the company.
Mutilated share certificates: Due to wear and tear of share certificates sometimes they get mutilated causing problem in share transfer.
Transfer of shares means an act of transfer of title of share certificate from one person (transferor) to another (transferee). Transfer of shares is needed when one buys shares from secondary markets or holds shares in physical form. As per section 108 of the Companies Act 1956, submission of valid transfer deed is compulsory for transfer.
Although the government has ensured unclaimed dividends, deposits, debentures, bonus, split shares etc to be in safe hands so that the investors can claim it even after a certain period, the number of the affected investors are no less. We provide a whole range of servcies to investors to recover their unclaimed dividends, bonuses, split shares etc. An investor may face such problems because of following reasons:
Outdated records: Unclaimed Dividend largely exists due to incorrect or outdated details of a shareholder in company’s records. Non-intimation of change of address or other details to the respective company results in mismatch of investor’s database with various authorities.
Non-execution of transfer: Shares purchased by an investor remain in the name of the seller due to non-execution of transfer in the name of the buyer. This happens when an investor holds physical shares.
Non-execution of transmission: It happens when a legal heir or successor fails to ‘transmit’ shares in his name after the death of an investor in whose name shares or debentrues are actually held in company’s records, leading to unclaimed corporate benefits including dividends etc.
Unclaimed dividend is the declared dividend by a company which is not encashed or claimed by the shareholders. The Companies Act of 1956 mandates that dividends not paid or claimed in 30 days are transferred to a separate bank account. An investor can claim his dividends from this account anytime in the next 7 years. After that, it goes to the Investor Education and Protection Fund (IEPF) which is managed by the Ministry of Corporate Affairs.
The term Life Insurance is quite incomplete with out the prefix ADEQUATE Life Insurance. Whether we know it or not, all of us a special ‘economic value’ attached to us which is different from the next person’s. It is also known as HLV – Human Life Value.
Whether you are alive or no longer there with your family, you would surely want them to enjoy the SAME STANDARD OF LIVING just as if you were still with them, providing for all their needs.
After the expiry of the earning man, being a part of this profession, we have seen family dreams like higher education for kids, amassing enough for their wedding expenses completely shatter. We have seen a simple housewife suddenly hunting for jobs not to mention other traumas she goes through .
We have seen cars and homes, which were on loan being taken away in front of the left behind family. Yes, a cruel world it is and all peace of mind is lost.
Which means that the above-mentioned details can be totally avoidable. An intelligent plan today, one simple and timely step today can ensure that whether you are alive or not your family will always bless you for their struggle free life and successful lives.
Worldwide Mutual Fund has a long and successful history. The popularity of the Mutual Fund has increased manifold. In developed financial markets, like United States, Mutual Funds have almost overtaken bank deposits. In India, the Mutual Fund industry started with the setting up of Unit Trust of India in 1964, Public sector banks and financial institutions began to establish Mutual Funds in 1987.
The private sector and foreign institutions were allowed to set up Mutual Funds in 1993. Today,there are 42 Mutual Funds with total assets of approximately 18 Lacs Crores. This fast growing industry is regulated by the Securities and Exchange Board of India (SEBI).
FDs are one of the oldest and most common methods of investing. When it comes to assured returns, choosing the right type of savings scheme makes all the difference. Fixed Deposits let you make the most of value-added benefits as you create wealth at low risk.
Fixed Deposits in companies that earn a fixed rate of return over a period of time are called Company Fixed Deposits.
Types of Companies offering Fixed Deposits
In the last budget, finance minister introduced Section 80C replacing Section 88, wherein we can claim deductions up to Rs.1,50,000 by investing in instruments eligible u/s 80C.
Fixed Deposits in companies that earn a fixed rate of return over a period of time are called Company Fixed Deposits.
Types of Companies offering Fixed Deposits
General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance.
In India, the prevailing health care scenario has not been of a high order that prevails in developed nations. The kind of medical facilities that are provided by the governments falls grossly inadequate to meet the ever increasing needs felt by citizens . Hence, most often, people are dependant upon private medical facilities, which over the years, have become increasingly costly with the advancement in the field of medicine.
