Call our Filingpoint Transfer of Shares Expert +91 72999 72500
Filingpoint Share transfer refers to the voluntary act of passing on ownership of shares to another individual. This can be done for various reasons such as a need for additional capital or gifting it to loved ones. Transfer of shares is governed by the provisions of the Companies Act along with the company's articles of association.
The Registrar of the Company must register the transfer within 30 days after receiving the share transfer deed and other required documents. The company must also issue a new share certificate to the transferee. In case the company fails to do so, it may be penalized by the Registrar of the Company.
People usually choose to transfer their shares from one Demat account to another for several reasons. Some do it to bring all their shares under one roof so that they are easier to manage. Others do it because they wish to change their broker for better services.
When transferring shares from one Demat account to another, the investor needs to submit a DIS (Delivery Instruction Slip) with their current stockbroker. They will need to mention their name, the IFSC code of the bank and the ARN number (Reference Number) of the DP account with which they have held their shares. The IFSC code is an 11-digit alphanumeric code, which can be found on a cheque leaf and in the branch passbook. The IFSC Code of a bank can also be found on the official website of the bank.
Contact Filingpoint Transfer of Shares Expert +91 72999 72500
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