SaiRam 29 October 2015

Complaint against rta, company and more...

Sir, I have a pending complaint against an RTA & a company at SEBI regarding shares already submitted for demat in february,2015 but it was rejected saying already dematerialized. Which can't be true. We have been holding these certificates for over 20 years. The company got relisted recently. Upon request for further proof, we even provided covering letter of allotment and completely exposed misdeeds of the RTA. Now, SEBI marked the case against the company. I am seeking credit of our shares along with compensation for delay. At this juncture, some stranger advocate sent some share certificates (for equivalent number of shares for which complaint is pending with SEBI), in his name along with filled-up share transfer forms to my address thru registered post. In my absence my son took delivery of it at home. In the covering letter, he asks me to withdraw my complaint against the RTA & company at SEBI. He has marked a copy of the letter to the company. Two days later he sent another another registered letter. This time we refused to accept it. We have no intention to use these share certificates. We only seek credit of shares into our demat account for the certificates which we already submitted for demat. What is the legal position ? How am I supposed to proceed.

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3 Replies

(Guest)

the advocate is appointed by the company to trap you. you should not send back those filled up form at all to the company. because if you do, the company might proov that shares are already dematted.

you stick to your position and don't respond to the advocate. if he gives you a contact number, ask him what he wants. if he threatens, call the police for help.

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Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 30 October 2015

A share holder must have demat account for conversion of physical share certificates into demant. You have to submit at depository regisrar and obtain a receipt but do not send to the concern company. That is why they returns to you.

If you do not already have a demat account, the first step is to open a beneficiary account with a depository participant (DP). A DP is typically an agent/broker who interfaces with the depository (NSDL and CDSL). Many banks and stock brokerages offer this facility for a nominal rent. You will be required to fill an account opening form and sign an agreement with the DP along with proof of identity and address, PAN card and photograph.

But here’s a note of caution: your demat account should be in the same name as the ownership in physical form

SaiRam 30 October 2015

Originally posted by : Rama chary Rachakonda
	A share holder must have demat account ........

Sir, thanks for your participation & reply. All the procedure you are talking about was followed perfectly in early 2015. The gentleman go who gave the first reply understood the scenario. Request you to re-read my original post, & you may add any additional suggestions/ advice if any. thanks.