16 March 2019
Sir I have investment in folio in limited company however there is third name in the folio that person i dont know when i contacted company they inform me that they cant do any thing , that third name which appears in my folio i dont know , i hold investment in physicaly mode now due to this i cant demat my shares as company asking kyc documents of that person to whom i dont know
Sorry to disagree with the experts above. First of all, the situation shown by the querist is quite an artificial and unbelievable. The question arises, if the querist does not know the joint owner of the shares, how a third party could appear as a joint holder of the security along with him, that too without obtaining his signature on the original allotment application form, if related to an IPO, or on the security transfer form, if purchased through a stock exchange?.
Secondly, the company is not liable to give particulars of the 2nd holder of the shares, even if legal notice is served by the querist to the company. Again a question arises, if the joint holder does not know about his own co-holder, how the company can be assumed to know the details of the 2nd holder of the share certificate?
However, if a real problem and if liked, you can send complete, but true, case history of acquisition of shares through email to me at: firstname.lastname@example.org
Otherwise, if liked for experiment, the querist is free to serve a legal notice to the company, as advised by the above experts, to see for the end result.