The Kerala flood revealed old share certificates! This is how I converted them to Demat form

Idea concept featured image

Published: May 14, 2019 at 10:08 am

Last Updated on January 1, 2024 at 9:50 am

This time on reader story, we have an account of old share certificates revealed by the Kerala flood and how FB group Asan Ideas for Wealth admin Ashal Jauhari, helped a reader (who prefers anonymity) convert them into Demat form.

More such stories from the archives:

In Aug 2018 after Kerala floods, my mother called me saying that she found some decades old docs kept in Almirah with “some company name” printed on it. She was about to throw it and thought to check with me before doing that. As I was supposed to go to my home town soon, I told her to keep it safe and let me check it

When I checked the docs, they turned out to be “Share certificates/stocks” of a listed company. My mother had no clue about it. I did a quick google search and found that the company is actively traded in BSE/NSE and was paying some dividends too in past years. I was again surprised and asked my mother. As usual, she had no clue but did tell me that every year some “cheques/warrants” used to come home and it was deposited in a bank account.

Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email!
🔥Enjoy massive discounts on our robo-advisory tool & courses! 🔥

I realized that it was due to bank account details not updated in records and company was sending cheques to postal address (I have no clue how postal address was correctly updated in company records, probably my father (who is no more) must have done that)

Again, back to the original thing, I noticed that shares were issued in my mother’s maiden name whereas all her ID/docs bear her current name. I did not know what to do and as a starting point, wrote to the “investor relations” contact of the company to seek help. I got reply in few days saying to contact registered share transfer agent -Karvy who handles such company queries

I checked their website and contacted customer care. The customer care was cordial but wasn’t sure about the correct way and advised me to mail to – einward (dot) ris (at) karvy (dot) com with full details. I did as told asking for guidance but got no reply for 2 weeks in spite of sending reminders. Frustrated, I again called customer care and they told me to wait and finally, I got a reply after a month. I was told that I need to get new physical share certificates and get it demat/online but only after name change!

The reply was very short and it was irritating as no details were mentioned on supporting docs required etc. I send reminders frequently but in vain!

Finally, I vented my anger on their Facebook page of Karvy Computershare and posted a comment/message. Within 2 days, I got a reply that I need to enclose the following docs

1) Notary affidavit indicating name change on stamp paper of Rs 10/20
2) Sign change affidavit attested by the bank (they charge for issuing it)
3) PAN CARD/ID proof
4) application letter
5) Original share certificate

I took me one month to get all the docs arranged. After that, it was sent to Karvy (Hyderabad) office….the waiting ordeal started again. They have fixed process of accepting/checking docs and after 2 months I was told that my docs will now be sent to company HO in Mumbai for attestation and then it will be sent back to Karvy and finally to my mother

The whole process took 3 months (with constant follow -up/phone calls/emails) and in January 2019 we got new share certificates

Meanwhile, I decided to transfer shares to my demat account. physical share transfer means more charges!! so I decided to open DEMAT account in my mother name and get physical shares converted to DEMAT form. This time, the main job was done by DP agent (where DEMAT account was opened) which send shares to Karvy. The whole process took around one month!

Finally, in around April 15th, shares transferred to my account and I closed my mother demat account

NOTE: the Whole process took around 6 months and would like to thank Ashal Jauhari for guidance/moral support !!

Do you have such a story to share and think others will benefit from your experience? Then write to me!

Do share this article with your friends using the buttons below.

🔥Enjoy massive discounts on our courses, robo-advisory tool and exclusive investor circle! 🔥& join our community of 5000+ users!
Use our Robo-advisory Tool for a start-to-finish financial plan! More than 1,000 investors and advisors use this!
New Tool! => Track your mutual funds and stock investments with this Google Sheet!
We also publish monthly equity mutual funds, debt and hybrid mutual funds, index funds and ETF screeners and momentum, low-volatility stock screeners.
Follow Freefincal on Google News
Follow Freefincal on Google News
Subscribe to the freefincal Youtube Channel. Subscribe button courtesy: Vecteezy.
Subscribe to the freefincal Youtube Channel.
Follow freefincal on WhatsApp Channel
Follow freefincal on WhatsApp
Podcast: Let's Get RICH With PATTU! Every single Indian CAN grow their wealth! 
Listen to the Lets Get Rich with Pattu Podcast
Listen to the Let's Get Rich with Pattu Podcast
You can watch podcast episodes on the OfSpin Media Friends YouTube Channel.
Lets Get RICH With PATTU podcast on YouTube
Let's Get RICH With PATTU podcast on YouTube.
🔥Now Watch Let's Get Rich With Pattu தமிழில் (in Tamil)! 🔥
  • Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
  • Have a question? Subscribe to our newsletter using the form below.
  • Hit 'reply' to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.

Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email!

About The Author

Pattabiraman editor freefincalDr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over ten years of experience publishing news analysis, research and financial product development. Connect with him via Twitter(X), Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.
Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition is!! Watch the first lecture for free!  One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course!  Increase your income by getting people to pay for your skills! More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!   
Our new book for kids: “Chinchu Gets a Superpower!” is now available!
Both boy and girl version covers of Chinchu gets a superpower
Both the boy and girl-version covers of "Chinchu Gets a superpower".
Most investor problems can be traced to a lack of informed decision-making. We made bad decisions and money mistakes when we started earning and spent years undoing these mistakes. Why should our children go through the same pain? What is this book about? As parents, what would it be if we had to groom one ability in our children that is key not only to money management and investing but to any aspect of life? My answer: Sound Decision Making. So, in this book, we meet Chinchu, who is about to turn 10. What he wants for his birthday and how his parents plan for it, as well as teaching him several key ideas of decision-making and money management, is the narrative. What readers say!
Feedback from a young reader after reading Chinchu gets a Superpower (small version)
Feedback from a young reader after reading Chinchu gets a Superpower!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.
Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Do you want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or get the Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low-volatility stock screeners.
About freefincal & its content policy. Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
Our publications

You Can Be Rich Too with Goal-Based Investing

You can be rich too with goal based investingPublished by CNBC TV18, this book is meant to help you ask the right questions and seek the correct answers, and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.
Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want Gamechanger: Forget Start-ups, Join Corporate and Still Live the Rich Life you wantThis book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at a low cost! Get it or gift it to a young earner.

Your Ultimate Guide to Travel

Travel-Training-Kit-Cover-new This is an in-depth dive into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, and how travelling slowly is better financially and psychologically, with links to the web pages and hand-holding at every step. Get the pdf for Rs 300 (instant download)