• I have recently found shares of Jindal
Vijayanagar steel Ltd in an old file.
• It is jointly owned by my father and
grandmother.
• The share certificate is from 1995 with
face value 10.
How can I dematerialise this?
Dematerializing the shares of Jindal Vijayanagar Steel Ltd (now JSW Steel) from 1995 with a joint ownership is possible, but it involves a few steps and considerations:
1. Identifying Ownership:
- Joint Ownership: Since the share certificate is jointly owned by your father and grandmother, both owners’ consent and signatures are required for dematerialization.
- Legal Heirs: If either your father or grandmother has passed away, you need to establish yourself as a legal heir. This might involve obtaining succession certificates or other legal documents.
2. Dematerialization Process:
- Demat Account: Both your father and grandmother need to have Demat accounts with a Depository Participant (DP). Popular DPs include banks, brokers, and financial institutions. You can help them open Demat accounts if needed.
- Formalities: Fill Demat Request Forms (DRFs) for each owner, mentioning the number of shares, certificate details, and ISIN code of JSW Steel (INE019A01020).
- Submission: Submit the signed DRFs with the original share certificate, proof of identity, and proof of address to your DP.
- Processing: The DP will verify the documents and forward them to JSW Steel’s registrar and share transfer agent (RTA).
- Dematerialization: Once approved, the physical certificate will be canceled, and the corresponding number of shares will be credited to your father and grandmother’s Demat accounts electronically.
3. Additional Points:
- Merger: Jindal Vijayanagar Steel Ltd merged with JSW Steel in 2005. The original certificate will reflect the old company name, but the shares will be credited to JSW Steel in your Demat account.
- Charges: DPs usually charge fees for dematerialization. Check with your chosen DP for specific charges.
- Timeframe: The dematerialization process may take around 2-4 weeks, depending on the verification and paperwork involved.
Resources:
- JSW Steel Investors FAQ: https://www.jsw.in/investors/steel/faq
- CDSL Dematerialization Process: https://www.cdslindia.com/
Remember, it’s always recommended to consult a financial advisor or investment professional for guidance on managing old share certificates and dematerialization procedures. They can help you navigate the process smoothly and ensure all legal and financial aspects are properly covered.
Disclaimer:
This information is fully given by BARD (Google).
