FAQs

How do I transfer shares in physical form?

For transfer of shares, in physical form, you will need to send the share certificates along with the Share Transfer Deed, (available with Stock Exchange/Share Brokers) duly filled in, executed and stamped, by franking / affixing share transfer stamps, to the Company's Share Transfer Agents, M/s Datamatics Financial Services Ltd. The documents have to be accompanied by certified copy of your PAN Card.

Please note the following:

  • The stamp duty payable for transfer of shares is 0.25% of the market value on the date of execution of the transfer deed.
  • A transfer deed is valid for a period of one year from the presentation date, indicated in the stamp affixed by the Registrar of Companies on the upper portion of the deed, or the Book closure date of Register of Members, whichever is later. Please check whether your transfer deed is still valid. Validity is counted from the Presentation date to the date of receipt of documents by the Company / Registrars.
  • If the validity period of the transfer deed has expired you will have to approach the Registrar of Companies for extending the validity of the transfer deed. Alternatively, you may obtain a fresh transfer deed, executed by the seller, through your broker / seller himself. Thereafter, you may submit the fresh/revalidated transfer deed to the Share Transfer Agents for transfer. Please note that the revalidated TD is valid for a month only.
  • Kindly note that partly-paid shares have been forfeited in the year 1999 for non-payment of calls in arrears. Only fully paid shares can be validly transferred. The certificates of fully paid shares bear a legend stating that they are fully paid. For any queries, please contact the Share Transfer Agents of the Company, M/s. Datamatics Fiancial Services Limited.
  • It is necessary that the transaction be witnessed by a third party, who is neither the seller nor the buyer.

We recommend that you dematerialize your shares. For more details, you may contact the Transfer Agent or the Company.

I have purchased Essar Oil shares long back but I forgot to get them transferred in my favour. What is the procedure that I should follow now?

A transfer deed is valid for a period of one year from the presentation date indicated in the stamp affixed by the Registrar of Companies on the upper portion of the deed or the closure date of Register of Members immediately after the presentation date, whichever is later. Please check whether your transfer deed is still valid. If so, submit the transfer deed duly executed and stamped along with share certificates to Share Transfer Agent for transfer in your favour.

If the validity period of the transfer deed has expired you will have to approach the Registrar of Companies for extending the validity of the transfer deed. Alternatively, you may approach the registered holder/seller whose signatures are appearing on the transfer deed as seller to execute fresh transfer deeds. Thereafter you may submit the fresh/revalidated transfer deed to the Share Transfer Agent for transfer.

How to transfer shares on death of shareholder? - Transmission of shares

Transmission of shares happens on the death of the shareholder who has held the shares singly. For transmission, the legal heirs should forward one of the following documents to the Transfer Agent along with a claim letter under the signature of the claimant, the Share Certificates, in original and the Transmission Form.

  1. Obtain a Succession Certificate or Letter of Administration with respect to the shares. Copy of the same, attested by the Court Officer or Notary should be submitted to the Company.
  2. Copy of Will, probated by the High Court / District Court of Competent Jurisdiction, along with relevant schedule/annexure setting out the details of the shares, duly attested by a Notary.

In case of non availability of the above mentioned legal documents, you may contact the Transfer Agent for further advice.

What is the procedure for deletion of name on death of joint shareholder

Deletion of name can be made only in the event of death of one of the joint shareholders, where shares are held jointly by 2 or more investors.

For seeking deletion of name for shares held in physical form, the surviving shareholder/s will have to submit a suitable request letter to the Transfer Agent, under the signatures of all the surviving share holders quoting their Folio number and supported by an attested copy of the Death Certificate of the deceased shareholder and the relevant share certificates.

The Company on receipt of the valid documents will delete the name of deceased shareholder from its records and return the share certificates to the applicant/registered holders with necessary endorsement.

In case of joint holdings, in the event of death of one shareholder, how do the surviving shareholders get the shares in their names?

The surviving shareholders will have to submit a request letter supported by an attested copy of the Death Certificate of the deceased shareholder and the relevant share certificates.

The company on receipt of the said documents will delete the name of deceased shareholder from its records and return the share certificates to the applicant/registered holder with necessary endorsement.

If a shareholder who held shares in his sole name dies without leaving a will, how can his legal heir/s (either husband/wife/son/daughter, etc.) get the shares transmitted in their names?

The legal heirs should obtain a Succession Certificate or Letter of Administration with respect to the shares and a true copy of the same, duly attested by the Court Officer, or Notary should be sent to the company along with a request letter, transmission form, and all the share certificates in original, for transmission in their favour.

If the deceased family member who held shares in his/her own name (single) had left a will, how do the legal heir/s get the shares transmitted in their names?

The legal heirs will have to get the will probated by the High Court/District Court of competent jurisdiction and then send us a copy of the probated copy of the will, along with relevant schedule/annexure setting out the details of the shares, the relevant share certificates in original and transmission form for transmission.

A and B had shares in ESSAR OIL. Both of them died. How do I get the shares transmitted in my name?

The legal heirs should obtain a Succession Certificate/Letter of Administration of the last deceased joint holder in your favour and follow the procedure for transmission of shares.

I have already produced the attested/registered will. Since getting it probated would take a long time and money can I avoid that procedure?

You will appreciate that in order to ascertain that the will in question is the last will and testament made by the deceased, it is important that the same is authenticated/probated by the Court. This is to protect the interest of the investors at large and to obviate any future claims/disputes on the same.

When I applied shares at the time of public Issue in NRI category and now am in India as Resident category. Is it necessary to inform the change of Status from NRI to RI?

Yes, you have to immediately write to the Company's Share Transfer Agent for the change of Status from Non Resident Indian (NRI) to Resident Indian (RI) or vice versa.

The name of a joint holder was included only for convenience by the first holder. I am the only heir. Could you transfer the shares in my name as per the will/probate?

As per law, the joint holder is deemed to be having indivisible ownership of the joint property and the company cannot ascertain as to how or why the name was included. As per the Articles of Association of the company, the surviving joint holders are the only persons recognised as having title to the shares.

What is the procedure for issue of duplicate share certificates on loss of certificates?

Immediately inform about loss of share certificates to the Share Transfer Agents quoting your folio number and details of share certificates.

Simultaneously, you will have to lodge an FIR / complaint with the police regarding loss of share certificates and also comply with the following formalities for issue of a duplicate certificate:

  1. If the lost shares are more than 500, publish a notice in a leading / local newspaper, giving details of the certificate, distinctive numbers and folio numbers of the shares lost.
  2. Forward the following to the Transfer Agent to enable them to advice the formalities required to be completed, for issuing duplicate certificates to you.
    • A suitable advice / covering letter, requesting duplicate certificate.
    • Cutting of the newspaper, where the advertisement was released (name of the paper & date of the advertisement should be available).
    • Original / attested copy of the FIR.

Upon receipt of the above documents, the Company shall provide you the format of Bond of Indemnity and other formalities, to issue duplicate share certificates to you.

However, please note that if the lost share certificates and the valid transfer deeds are lodged with the Company by a third party for transfer, the case will have to be dealt with on the basis of relevant facts and the Share Transfer Agent shall advise further course of action at that time.

How do I record change of my address?

Shares held in physical form:

Kindly send a request letter to the Share Transfer Agent signed by the shareholder (first named shareholder in case of joint-holders) giving the new address along with the Pin Code and folio number. The request has to be accompanies by certified copy of your PAN Card.

Only on receipt of the above documents and on our satisfying that the same are in order, we will record the change of address and send you a confirmation. Please note that until then communications will continue to be mailed to you at your old address.

Please note that request for change in address made by joint holder/s will not be accepted.

We also request you to register your e-mail ID with the Company.

Shares held in demat form:

Please contact your depository participant for seeking change in address.

The information with your Depository Participant will be made available to the Company by NSDL/CDSL when any action like despatch of Annual Accounts etc., is due to be taken by the company.

We also recommend that you register your e-mail ID with the Company / Depository Participant.

I want to seek change of my Name

Shareholders are requested to comply with the following formalities, for change of name in the Company’s records:

  1. Change of name due to marriage – Submit the following:
    • Attested copy of the marriage certificate.
    • Share certificates, in original
    • A suitable advice letter, under old & new signature, quoting share certificate details.
  2. Change of name through gazette – Submit the following:
    • A suitable advice letter, under old & new signature, quoting share certificate details.
    • Attested copy of the gazette notification
    • Share certificates, in original
  3. Changes in the name, which are minor in nature, like spellings, but do not change the name pattern.
    • A suitable advice letter, under the signature, quoting share certificate details.
    • A relevant Affidavit citing the reason for change.
    • Share certificate, in original.
  4. Status change from Minor to Major
    • Attested photocopy of the proof of age.
    • Share certificate, in original
    • An advice letter from the minor, in which his / her signature is attested by the guardian / Bank manager. Also other details like, address, bank details, email id, contact no., etc.

Can I interchange the order of names for my holdings?

Yes, you can. For securities held in physical form, please submit the following:
      1. Request letter duly signed by ALL the holders whose signature(s) should be attested by his/their Bank Manager under his full name, designation with seal of the bank bearing it name and address.
      2. Relevant certificates for the securities.
      3. Self certified copies of the PAN Cards off all the holders.

For securities held in electronic form, please contact your depository participant

Over a period of time, my signature has changed, what should I do to register my new signature in your records?

To register your new signature, an affidavit to this effect is required to be executed, as per the  attached draft. Please follow the instructions. This is applicable only for holdings in physical form.

For securities held in electronic form, please contact your Depository Participant.

What is Demat and what are its benefits?

Dematerialisation ('Demat' in short form) signifies conversion of a share certificate from its present physical form to electronic form for the same number of holding.

It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transfers are processed electronically without involving any share certificate or transfer deed after the share certificates have been converted from physical form to electronic form.

Dematerialisation of shares is optional and an investor can still hold shares in physical form. However, as per the directions of SEBI, he/she has to demat the shares if he/she wishes to sell the same through the Stock Exchanges. Similarly, if an investor purchases shares, he/she will get delivery of the shares in demat form.

The Depositories Act, 1996 has been enacted to regulate the matters related and incidental to the operation of Depositories and demat operations. Two Depositories are in operation - National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).

I have purchased some shares in paper form. Can I directly give the share certificates to my Depository Participant for dematting them in my favour?

No. Prior to dematting your shares, they have to be registered in your favour. Hence, you have to necessarily lodge the share certificates for transfer in your name, thereafter, you may pursue demat formalities separately.

Is it a fact that ESSAR OIL shares are to be traded compulsorily in Demat Form? Do I have the option of holding them in physical form?

Yes. The shares of the company are to be compulsorily traded in demat form. However you can still buy shares in physical form upto 500 (through odd lot window facilities provided by Stock Exchanges) and send the same for transfer to the Company. After the transfer is registered in your favour, we shall return the share certificates in physical form to you.

Once my shares are dematted, can I ever get them converted into physical shares?

If you are holding shares in electric form, you still have the option to convert your holding in physical form by submitting a Rematerialisation Request Form (RRF) through your DP in the same manner as Dematerialisation. Upon receipt of such request from your DP, the Company will issue share certificates for the number of shares so rematerialised.

My shares are held in joint names. Are the joint holders nominees to the shares?

Joint holders are not nominees. They are joint holders of the relevant shares having joint rights on the same. In the event of death of any one of the joint holders, the surviving joint holder/s of the shares is/are the only person/persons recognised by the company as the holders of the shares.

What is the procedure for Nomination of my shares

For shares held in physical form:

You have to submit a nomination form duly filled in duplicate and signed. If you are holding shares along with other holders then all the holders will have to sign the nomination form.

After the form is received by the Company, and if found in order, a registration number will be allotted to the nomination. A duplicate copy of the nomination form received from you will then be returned back to you with an endorsement indicating the registration number and date

You can download the nomination form or ask for a copy of the same from the Share Transfer Agent.

For shares held in demat form:

In case of dematerialized shares, your nomination has to be recorded with your Depository Participant.

Can a nomination once made be changed?

Nomination once made can be revoked by a shareholder by giving a fresh nomination. If the nomination is made by joint holders, and one of the joint-holders dies, the remaining joint holder/s can make a fresh nomination by revoking the existing nomination.

What is the legal position of the nominee in case of death of the shareholders?

Upon the death of a shareholder, the Nominee, to the exclusion of any other legal heir/beneficiary, is the only person in whom the shares vest. In other words, in case of a valid nomination, the company will not entertain any claim from legal heirs or beneficiaries and the shares will be transmitted only in favour of the Nominee.

In case if the nomination is made by joint-holders, the nomination will come into play only upon the death of all the joint holders. Therefore if one of the joint shareholders dies, the shares will devolve on the surviving shareholders to the exclusion of the Nominee. In this case the surviving shareholders may make a fresh nomination if they so desire.

What is the procedure for the nominee to get the shares registered in his name?

Upon death of a shareholder, the nominee is entitled to have the shares transmitted in his favour. He/She will have to give a notice in writing to this effect along with the share certificate(s) of the deceased shareholders. Alternatively, the nominee can transfer the shares held by the deceased shareholder, to a third party.

If a nominee opts for registration of shares in his name, he is required to produce proof of identity, e.g., copy of passport, driving license, voter's identity card or such other proof to the satisfaction of the company. The nominee should also submit his specimen signature duly attested along with a request for transfer.

I have shares in the demat form. Can I send the nomination form to the company for making a nomination with respect to my shareholding?

No. For making a nomination with respect to dematted shares, you will have to approach your DP. In the account opening form provided by the Depository Participants there is a provision for providing the name of the nominee. Please consult your Depository Participant for further details.

Can joint-holders request for a change of address?

No. The letter of request will require the signature of the first or all holders.

Can there be multiple addresses for a single folio?

No. There can be only one address for one folio.

I am holding more than one folio in the same name. Can I consolidate these folios?

Yes. Please forward the share certificate relating to those folios which you wish to merge and we shall consolidate your folios and return the share certificates by endorsing the consolidated folio number.

You may please note that the folios to be consolidated should be in the identical name or in the same order of identical names (in case of joint-holding) and bear the same address.

When I authorise another person to deal with my shares, do I have to report this to the company?

Yes. You will have to execute a Power of Attorney in favour of the concerned person and submit a notarised copy of the same to the Share Transfer Agent for registration. After scrutiny of the documents we shall register the Power of Attorney and inform you about the registration number of the same.

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