Transfer of shares in electronic form

This query is : Resolved

jayant (Querist)
Follow

11 June 2015 sir, my father wants to transfer shares held by him in electronic form to my demat account. kindly guide me regarding the procedure to complete the above transaction. an application was made to respective broker but he denied the same. please tell me about the remedy in case of such rejection

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

11 June 2015 By filling and signing the share transfer form it can be transferred to your name. It is a simple procedure you have to state it as gift.
your broker is not doing go to some reliable broker like SBI cap securities.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

11 June 2015 This constitutes OFF MARKET TRADE and that is why most of the brokers are reluctant to do so unless they are duly rewarded in terms of brokerage.
You can directly go to DP....the person/institute maintaining d-mat account of your father and hand over the sell-slip (Similar to withdrawl slip of any bank)

Upgrade to CAclubindia Pro. Subscribe Now!