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Investing in equity shares of several companies jointly is a lucrative option; however, it can be problematic in cases where the joint shareholders abscond for a much longer time or is deceased, thereby necessitating the deletion of the missing or deceased shareholder’s name from the records as it is the only solution for keeping the investments intact to prevent it from getting worthless. The present article discusses the concept of name deletion/updation in shares, its need, the requisite documents and the procedure for the same.
Name deletion/ Updation refer to the change in the details of the existing shareholders in their joint shareholding records due to the abscondment or death of any of the shareholders.
The deletion /updation of the name is needed due to the following reasons.
The following documents are required for initiating the process of name deletion/ updation of shares –
The Shareholder must approach a Depository Participant (DP) to open a demat account.
The death or the abscondment of any of the shareholders can be a traumatizing experience which can deviate the focus of the existing shareholder from the necessary formalities involved in the name deletion/updation of shares. The team of experts at Enterlice can provide much-needed guidance and end-to-end assistance throughout the process with the motive of completing the same seamlessly at the earliest.
Read Our Article: A Brief Understanding on Investment in Equity Shares & Tax Planning
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