Process
Retrieve
For obtaining duplicate share certificates in case you have misplaced/lost the original we file on your behalf an FIR at the Police station, publish newspaper advertisements in 2 newspapers inviting objections to your application for issue of duplicate share certificates (a requirement of the Company), provide two guarantors to the Company with annual income equivalent to the value of lost shares, provide bank guarantee valid for 2 years, if insisted upon by the Company, equivalent to the value of lost shares.
Recover
As per Section 124 of the Companies Act, 2013, all shares in respect of which dividend has not been paid or claimed for seven consecutive years or more shall be transferred by the organization in the name of Investor Education and Protection Fund (IEPF). Recovering these shares is a very tedious and cumbersome activity. It is nearly impossible for a layman to do the exorbitant amount of communication and legal paperwork. WeDemat has experts who will help you to get the work done and manage all the required documents.
No matter whether it is shares or unclaimed dividend, matured debenture or, matured deposits , and application money due for refund, you can claim by filling an application in Form IEPF 5
After filling the form, you need to send the copy of IEPF5 duly signed along with the following documents to the concerned company for verification of your claim:
Copy of Acknowledgement
Indemnity Bond
Advance Stamped Receipt
Copy of Aadhar
Cancelled Cheque
Original Certificate
Proof of entitlement
Copy of Passport, OCI and PIO card if you are foreigners and NRI) as enumerated in Form IEPF-5
Within fifteen days of receipt of claim form, the company should send a verification report to the IEPF Authority as per the format specified or demanded by the Authority along with all documents submitted by you.
Once the verification of the entitlement of your is done, the IEPF Authority and then Drawing and Disbursement Officer of the Authority will present a bill to the Pay and Accounts Office for e-payment according to the guidelines. The IEPF Authority will also issue a refund sanction order with the verification and approval of the Competent Authority and will credit the shares which are there with depository participant in IEPF suspense account to the demat account of the claimant to the extent of the claimant’s entitlement.
Transmit
We help you in transmission of shares from a deceased relative to you by filing and obtaining from Testamentary department of High Court a probate of will or where will is absent, file and obtain Succession Certificate or Letter of Administration, only after which a Company would transmit the shares to your name.
Dematerialise
Dematerialisation is the process by which a physical share is converted into digital format. An investor who wants to dematerialize the share certificate needs to open a demat account with a Depository Participant (DP). The investor has to deface and surrender the certificates to convert them into electronic form which in turn is sent to his demat account. Process can be verified electronically via confirmation request. Demat is safe, secure and convenient. It also reduces the risk of mutilation, loss and theft. WeDemat helps you to demat by connecting you to reliable depository participants and help you open cost effective accounts with them.
Team
Narayan Chhabria, CHAIRMAN
Part of the Chhabria family, whose rag to riches story is stuff of a best seller novel. The family has founded successful enterprises like Finolex Cables Ltd. (revenues 2884 cr and PAT of 358 cr in FY 17-18) And Finolex Industries Ltd. (revenues 2831 cr and PAT of 298.5 cr in FY 17-18). He is a trustee of the Global AIDS Foundation and member of Rotary Club of Bombay North.
Gautam Chhabria, FOUNDER
Founded flywithvip.com a social enterprise in which the seat adjacent to celebrities whilst they fly is auctioned and raffled to raise money for charity. The platform was launched with a flight with Amitabh Bachchan and thereafter flights with Anushka Sharma, Priyanka Chopra, Deepika Padukone, Ranveer Singh, Abhishek Bachchan, Rishi Kapoor, Asin and many more were raffled. A recent raffle with MS Dhoni saw 1.2 million users taking part, with each participant paying Rs. 100.
A trustee of Global AIDS Foundation and member of The Indus Entrepreneurs.
Nikita Methta, COO
A graduate of Commerce from Jaihind College, where she had been crowned Miss Millennium. Has done jewellery designing from GIA New York, but is now no longer enamoured by ‘a girl’s best friend’ post man made versions being indistinguishable from their natural counterparts. Is actively involved in the startup community. Teaches kids vedic maths on weekends. Love of her life are her nephews. Her granddad and mom are lawyers, so almost impossible to win an argument against her.
Parth Shah, CTO
A graduate from the University of Michigan Ann Arbor excelling in computer wizardry. A virtual reality enthusiast, cryptocurrency believer and general artificial intelligence maniac. From cryptocurrency bots to streaming movie websites Python is his language of choice. Always tries to stay up to date with the latest technologies and is inspired by future prospects of where technology is headed. Has has also made several iOS and android apps.
Contact Us
Our Office
304, Sea Flama, Dosti Flamingos,
Upper Parel, Mumbai 15
Tel : 022-24112529 or 98339 09984
Email : gautam@wedemat.com