I have a client who’s having physical share certificates of Union Bank on his father’s name (he’s no longer there). My client wants to get the shares in Demat format, on his mother’s name (she’s there) and she does not have a trading a/c and demat a/c. So that it can be credited in her name, and may be sold or held at a later date. Please explain the procedure in detail, or post some links. Thanks.
First write to the Registrar & Transfer agents and get the shares transferred to your mother’s name.
Here are the details of R&T: http://www.unionbankofindia.co.in/transfer_share.aspx
Once you get the physical shares in your mother’s name, open a demat account in her name and then apply for dematerialization with the DP.
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