26 March 2012
FRNDS.., MY PARENTS ACQUIRED 900 SHARES JOINTLY IN 2003 ISSUED BY ANDHRA BANK THROUGH MCS LTD(STOCK BROKING CO). I NEED DETAILED PROCEDURE FOR GETTING THOSE SHARES TRANSFERED ON MY NAME.
26 March 2012
To transfer shares in your name, your parents will have to fill transfer deed. In the transfer deed, they will have to mention that the shares are being transferred in your name. With the duly filled in transfer deed, you will have to attach the share certificate and send it to the share transfer agent of Andhra Bank. They will transfer the shares the shares in your name. This process may take 10 to 15 days. The entire process explained is for physical shares. Please do not forget to pay stamp duty which you will need to stick on transfer deed.
26 March 2012
Thank u Mr.vivek sharma & Ajay mishra.I'm having DEMAT a/c .Is it possible to open demat a/c jointly on my parents name & dematerialise those shares and transfr it to my account.
CAclubindia
