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Wealth Samadhan Card – An Online secured place to save one’s Investment related Information.

Wealth Samadhan Card – An Online secured place to save one’s Investment related Information.

26, Jun 2018
Share Samadhan has recently launched an online platform to store/update investment related information so that the same can be accessed by you or your family in case of any contingency. We all agree that the world is prone to VUCA (Volatility, Uncertainty, Complexity and Ambiguity) and so the life is. Everyone wish that their preserved Wealth / Investment reaches in the legitimate rightful hands but by nature we seldom share the brief elaborated commercial / financial information with our family/nominee and in case of any eventuality they find it difficult / take abnormal time to recover the financial assets. Most of us work very hard in life time to create financial assets, invest time & efforts in financial planning, pondering over that expensive house we plan to buy and creating wealth through stocks, gold real estate, mutual funds, bank deposits, PF, Postal Savings etc . For all of us, the sole motive of such measures is to leave rich wealth legacy for our children / family so that they lead a comfortable lives. Therefore, it's important that the wealth is transferred in the hands of the rightful claimant of the wealth for whom it was created. The data is available in the public domain the various investments of Rs. 3,00,000 Crore have just been in either physical papers or gone unclaimed due to various reasons. And one of the main reason is that the deceased family was not aware of the financial investments owned by the person before his death as the same was not shared by the individual with the family. Share Samadhan has launched a service with secured server wherein one can preserve the information (minimal information) of the investments made by the individual and the same information will be shared with the family members (opted by individual) in case of untoward incidents of the wellbeing and the health of the individual and help the nominated person/s to get the investments transferred in their name at certain fees. We have the competence and the ability to smooth transition of the financial assets to the family members as we have been providing this service through our company Share Samadhan. Share Samadhan (www.sharesamadhan.com ) has been assisting clients to recover all their Unclaimed Investment in Old Shares, Provident Fund, Matured Insurance, Mutual Fund, Postal Savings, and Inoperative bank accounts etc. since last 5 years. Here we would like to point out that the subscriber of Wealth Samadhan Card has to share very minimal information which is adequate enough for us (Share Samadhan) to create valid linkages to various financial investments/assets owned by the individual in untoward situation of the wellbeing of the subscriber . This information would be shared by us with the family member/s of the deceased (opted by him/her at the time of the registration with us) and extend help/services to the family member/s for transferring the investments / assets in their names on a professional fees linked to the transfer of the assets in the name of family member/s . Family members would have the option to take avail our services. To know the well-being of the subscriber or member we would stay in continuous communication with him / her though mail or telephone. Reiterating once again, we will not ask any financial document and not even amount of investments (Hence risk of confidentiality). Very minimal information would be asked for to create the valid linkages to the investments . One has to just click the nature of investments / assets….example is there at the link below It is a sort of a checklist with minimal information to create valid linkages to the investments owned by the individual so that meaningful information can be passed on the family members at the time of untoward incident affecting the health and wellbeing of the individual . The whole purpose is to ensure that the wealth earned by the individual in his/her life time does not go unnoticed. We (Share Samadhan) pass on a meaningful information to the family members and help them in transfer of the assets in their names if they like. Even in a situation where the information of the investments owned by the individual has been shared with the family members, in case of untoward situation of the subscriber, Share Samadhan will help in smooth transfer of the investments to the nominated person by providing its expertise and services at a fees linked with the realisation of the value of investments . This will help the family and save the hassles of running from pillar & post to lay their rightful claim on the financial assets and transfer the same in their names . We Bring One Window Solution to facilitate smooth transfer of the financial assets to the nominated person. https://sharesamadhan.com/wealth-samadhan-info
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SEBI Restriction on Transfer of Physical Share

SEBI Restriction on Transfer of Physical Share

21, Jun 2018

Still holding Physical Share of Listed Entity!! Please get rid of it before 5th December 2018.

Otherwise You may lose your right to transfer.

On 8th June 2018,  SEBI has notified vide Notification No. SEBI/LAD-NRO/GN/2018/24

 by issuing SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (FOURTH AMENDMENT) REGULATIONS, 2018 that except in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in the dematerialized form with a depository. In other words there will not be any transfer of physical share after 5th December 2018.

SEBI has decided to amend Regulation 40 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) which deals with transfer or transmission or transposition of securities.

According to this amendment, the requests for effecting the transfer of listed securities shall not be processed unless the securities are held in the dematerialized form with a depository. Therefore, for effecting any transfer, the securities shall mandatorily require to be in demat form.

 

Why this amendment?

To keep a check on the instances of fraudulent transfer and for ensuring more transparency, this amendment has been brought into force.  Investors holding physical shares sometime loose track about corporate action such as bonus / dividend due to change in their address and those corporate action remained unclaimed.

Sharepro fiasco is the classic fallout for Investors who were holding physical shares. Recently, Aptech, Britannia Industries ltd, Asian Paints filed a complaint against its share transfer agent Sharepro for illegally transferring dividends and shares to fraudulent accounts.

 

After effect of the Amendment:

This amendment will bring the followings changes:

  • Eliminating fraud and manipulation in physical transfer of securities
  • Chances of error will be reduced.
  • Transfer of securities only in demat form will augur well for capital market and significantly speed up the transfer of securities, improve convenience and safety of transactions for investors.

 

Can holder continue to hold shares in Physical form?

Yes, the holder can continue to hold the shares in physical form but one can not transfer the same in physical form.

 

Need assistance?

Please reach out to Share Samadhan (www.sharesamadhan.com) at samadhan@sharesamadhan.com

T : 011 4908 4015

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How to get physical shares transferred and converted into demat ?

How to get physical shares transferred and converted into demat ?

18, Dec 2017
Physical Shares are those shares which are held in physical certificates by the Investors. Demat is an electronic form of preserving shares; that is paperless trading. Dematerialisation is the process by which a person can get physical certificates converted into electronic mode. Investments in shares and debentures can be held in electronic or dematerialised form with a depository which holds securities (shares, debentures, bonds, government securities, mutual fund units etc.) of investors in electronic form at the request of the investors. In India, there are two entities—National Securities Depository and Central Depository Services.  Unlike in physical shares, there is no scope for bad delivery or fake shares when we hold shares in demat form. Further, unlike physical certificates, there is no need to send the shares purchased to the company for transfer. Therefore, there is no scope for delay in transfer or for loss of share certificates in transit. There is considerable reduction in paperwork and transaction cost in demat mode. A Shareholder can view all his investments in listed companies or mutual funds in single account. Shareholder will receive all the corporate benefits like rights, bonus shares directly into his demat account and dividend into bank account registered in his demat account. Process involved in dematerialization? A Shareholder can get his shares dematerialized by submitting a Dematerialization Request Form (DRF) to its Depository Participant(DP). A DP is usually an intermediary between a shareholder and the Depository i.e. NSDl & CDSL. After submission of DRF, the physical share certificates are verified by the concerned authorities. Upon verification, the DRF team will convert all the physical share certificates into electronic form. It takes approximately 2-3 weeks for the DRF team to convert physical shares into Demat Form or electronic form. In case of death of a shareholder before converting his / her shares into demat mode, legal heirs will have to transmit the shares in their name and then get the dematerialization done in their respective names. In case of loss of physical shares, the shareholder will have to get the duplicate share certificates issued in his name from the Company. After receiving the duplicate share certificates, the shareholder can get his shares dematerialized by filling the DRF.
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How to get back your lost or blocked investment?

How to get back your lost or blocked investment?

01, Dec 2017
It's easy to invest in any private or government scheme but recovering your money or claim in need is a herculean task. This near to impossible task of recovery will become easy for you or your legal heirs if you follow the mantra of 'secure investment'. 'Invest and forget' this age old adage is coming heavily on investors or their legal heirs after their demise, as getting back the investment is really a herculean task in India. The case becomes more complicated if documents are lost or address is changed or death of investor. We get several such cases where investors or legal heirs are running from pillar to post to get back the hard earned money invested by them or their demised relatives. It happens in all the financial instruments from company shares to bank deposits to provident funds, mutual funds, debtors etc. Ads by ZINC According to data available with various government departments / comapnies investments amounting over three lakh crore is lying in physical papers / unclaimed with private and government bodies. We may call it a 'black hole' of investor wealth. There are no takers for crores of money stuck up. Literally! various financial instruments such as Old Shares, Mutual Funds, Old Insurance, In-operative bank accounts, Provident Funds and post office deposits carries the 'black hole' of unclaimed money that nobody claims year after year. Some data suggests that more than Rs 2 Lakhs crore stuck up in shares which are in physical form. If we notice beyond the capital markets, the amount is no less mind-boggling. A whopping Rs 60,000 crore is lying in equally crucial instruments of dormant bank accounts, inoperative provident funds, post office savings schemes and matured insurance policies, involving lakhs of investors. "This is such an issue that bothers every household. We prefer to ignore it despite the chronic presence in our daily life in absence of any solution." People invest their hard earned money so that their spouses or children get it after their sudden. Sadly, in cases of casualty and need of the money, the family suffers. With whopping unclaimed investment in the country lot of fraud has been uncovered where in the original investor's money syphoned into the coffers of fraudsters. To counter this fraud the government has taken the following admirable initiative in recent past to protect the investment but the investors or their legal heirs are not aware about how to approach and follow up with these bodies to get back the blocked money. Shares: As per the latest notification from the Government of India, all shares in respect of which dividend has not been paid or claimed by the shareholder for 7 consecutive years or more, all these shares will be transferred to Investor Education and Protection Fund (IEPF) suspense account set up by the Central Government. IEPF just holds and protects the investment to avoid any fraudulent transfer of investor's hard earned money. If the shares are very old and company is non traceable, the investors can approach IEPF. Provident Fund: The government has reversed a five-year-old decision and announced that inoperative employees provident fund (EPF) accounts will earn interest, a move that will cheer millions of workers. Move will benefit more than 40 million holders of inoperative accounts; over Rs 32,000 crore is parked in such accounts. As almost all the records are digital, you can approach this body to get your PF even if you had changed several jobs and are not aware about you PF sum. At Share Samadhan we have a dedicated team of expert professional - Chartered Accounts, Company Secretaries, and Lawyers to assist aggrieved investors to recover the lost / forgotten and scattered investment in any form of financial instrument. Share Samadhan is like 'one window shop' for all the aggrieved and harassed investors searching for a single widow. We are expert in mining the detail information of the investors on the basis of very small information/negligible provided by the investors. Protect Your Investment: Once should keep a proper record of their investment whether in paper form or in electronic. Someone in the family should be aware about all the investments made by the investor so that in case of exigencies, there is someone who can deal with those papers. It's better to get the 'Will Executed' to avoid any future litigation. Everyone's Family Deserve to preserve their Investments so that the same can be help them to sail through troubled time. Share Samadhan has launched an initiative Wealth Samadhan card where any investor can keep his/her investment details in encrypted form without even giving them any investment document or disclosing the amount of investment. To each client Share Samadhan issues a 'Wealth Samadhan Card' with unique ID to the investor and a 'duplicate' which she/he could provide to any confidential relatives/friend to help the family in case of any fatality/emergency. The investor need not divulge details but can mention his investment in a layman format. To conclude, our wealth whether earned by us or inherited by us, please do not let those investment just ruined in old papers. Convert it in liquid cash with the help of expert who can help you recovering your old investment. Vikash Jain is Director with Share Samadhan , India's largest Unclaimed Investment Recovery Advisory entity. (www.sharesamadhan.com) http://www.businesstoday.in/opinion/columns/how-to-get-back-your-lost-or-blocked-investment/story/264584.html
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