Discrepancies between the name or signature on a share certificate and the records of the Registrar and Transfer Agent are among the most common reasons for refusal of service. These discrepancies arise from a variety of causes and can be resolved through a defined documentary process. FISC identifies the precise cause of each mismatch and manages the resolution from start to finish.
Name mismatches most commonly arise from change of name following marriage, change by deed poll or gazette notification, variations in the spelling of the name between the share certificate and the PAN card or Aadhaar, typographical errors at the time of original registration, and differences between a shareholder's full name and shortened variants used across different documents. Signature mismatches arise from change in signature over time, signatures on old certificates that differ from the current specimen registered with the Depository Participant, and cases where the signature on the transfer deed does not match the signature on the certificate.
A mismatch between the name or signature on the certificate and the RTA's records will result in the rejection of any transfer request, the refusal to dematerialise the shares, and the inability to update the folio. In some cases, the RTA may freeze the folio pending rectification. Early resolution is therefore important to preserve the shareholder's ability to deal with the shares.
The documents required for name change or signature mismatch resolution depend on the cause of the discrepancy. A marriage-related name change requires a marriage certificate and affidavit. A change by gazette requires the gazette notification. A typographical error requires an affidavit supported by the relevant identity documents. Where the mismatch is in the signature, a new specimen signature card verified by the bank is required along with supporting identity documents. The complete set of documents is submitted to the RTA with a covering letter, and the RTA updates its records on satisfaction.
FISC identifies the precise nature of the mismatch, advises on the specific documents required for the particular cause of discrepancy, drafts the covering letter and any affidavit required, compiles the complete documentation set, and submits it to the RTA. We follow up with the RTA until the records are updated and written confirmation of the same is received.