How do I transfer shares in the physical form?
- Bharat Petroleum Corporation (BPCs) shares are traded in dematerialized form. However, when you buy physical shares, please ensure identity of the sellers and intermediateries, if any for the authenticity of your purchase and help in case the documents turn out to be not authentic.
- Ensure that all the columns in the share transfer form are filled in properly and your signatures as buyer are affixed at the appropriate places.
- If you find that the seller of the shares has signed through a Power of Attorney (POA) holder, please ensure that the registration number of the said POA is mentioned on the reverse side of the share transfer form. This number is allotted by the Company when the relevant POA is filed with the Company for registration.
- Similarly, when you purchase the shares through your Attorney or your Attorney is signing on your behalf as buyer, in the share transfer form, please ensure that a copy of the POA issued by you, is duly notarised and filed with the Company. The Company registers the same in its records and allots the registration number, which you should mention in the share transfer form when you sell the shares, through your Attorney.
- The stamp duty applicable on share transfer is at 0.25% on the market value on the date of execution of the transfer deed or consideration value which ever is higher. The stamp duty could be paid in the form of Share Transfer Stamps or franking of the Share Transfer Deed. Please cancel the transfer stamps affixed on the Share Transfer Deed by crossing the same, before lodging the documents with the Company.
- Before you accept the share transfer form from your broker, ensure that the transfer form is not time - barred. Transfer forms are valid for a period of 12 months from the date of endorsement thereon by the prescribed authority or till the first book closure after the said endorsed date, whichever is later.
- It would be advisable to register the shares in joint names to avoid any procedural difficulties for transmission of shares.
- Please ensure that your address given in the share transfer form is complete in all respects including the PIN code no. to help prompt receipt of all communications from the Company including delivery of the transferred share certificates, dividend warrants etc.
- It would be also useful if you provide your telephone/fax Nos. to help contact you in case of any need for minor clarifications etc. in the documents lodged by you.
- Please keep photocopies of all the share certificates and other documents lodged with the company for transfer. This will help in case of any loss of documents in transit.
- If you change your signature, please intimate the company immediately with your revised signature duly attested by your banker.
- If you are a non- resident, alongwith the transfer documents lodged with the company, you should provide an attested copy of the investment approval received by you from the Reserve Bank of India alongwith the attested copy of your NRO/NRE Bank Account particulars, to enable us to remit the dividends.
- When you buy shares immediately before record date or book closure date please ensure that these are lodged for registration in your name before the record date/book closure date to ensure that you get the benefit of dividend etc. as would have been announced.
- If you are already a Shareholder of the Company, please mention the Folio No. of your existing shareholdings in the Column provided in the share transfer form.
- It would be advisable that you keep record of the specimen signature given by you to the Company and sign all transfer deeds and your correspondence with the Company as per the said specimen signature, quoting your folio no.
- Unless prohibited by any provision of Law or an order passed by court of competent jurisdiction, the Company is required to register the transfer when transfer documents complete in all respects are lodged with the Company. As such, if your share certificates are lost or stolen you are advised to lodge a complaint with the Police and obtain an appropriate court order or submit copy of plaint along with confirmation that the suit filed has been accepted by the court and suit no. has been given. Please note that your simple communication of loss of share certificates without the above documents cannot be taken as sufficient to restrain the company from registering the transfer.
How do I transfer shares in case of death of first Shareholder?
When the shares are held in single name and the holder expires, the title to the shares would be transmitted to the successors or beneficiaries under a Will. If you are a successor or a beneficiary as above, please submit the share certificate alongwith the succession certificate or probate of the Will (or letter of administration in case you are an administrator) for getting the shares transmitted.
What if I want to delete one name from Joint Holders?
Deletion of name
When the shares are held in Joint names and one of the Shareholders expires, please send the certified copy of the Death certificate alongwith the share certificates. Based on the supporting documents, the Company can delete the name of the deceased Shareholder from the records and make endorsements on the share certificates showing the remaining Shareholders.
How do I add/change order of the names on the share certificates?
If you hold shares jointly with another person and desire to change the serial order of the names, please send your request in writing duly signed by all the joint holders, alongwith shares certificates, in case the transposition is required for the entire holdings under the relevant folio. If you require transposition of names in respect of part holding under a folio, you would need to execute a transfer deed for the part holding in favour of the holders with changed serial order of the names.
For change of single holdings into joint holdings, you would need to execute transfer deed in the normal course.
Change of name
- If you are an individual, please send your request alongwith a certified copy of notification of change of name published in the Official Gazette.
- In case of companies, the request should be supported by a certified copy of the certificate of incorporation consequent to change of name issued by the Registrar of Companies.
- In case of change of name on marriage/ divorce, the request should be accompanied by a certified copy of the marriage certificate /divorce decree. In all cases of request for change of name the new specimen signature, if any, as well as the existing signature should be filed duly attested by your bankers, and you should also send the relevant share certificate for making the necessary endorsements thereon.
Change of address
The request for change of address should be made in writing quoting the folio number. Your signature (first named Shareholder in case of joint holders) appearing in such request should be as per the specimen signature recorded with the company.
- If you have more than one folio in one name or with identical names in the same order in case of joint holdings, please inform us in writing alongwith the relevant share certificates so that we will be able to consolidate such holdings in a single folio.
Dividend Claim Form
In order to protect your interest against any fraudulent interception and encashment of your dividend warrants, we advise you to provide us the name of your bank, branch and the account number which will enable us to incorporate the same in your dividend warrants.
Under section 205A of the Companies Act, 1956, unpaid dividend is required to be transferred by the Company to the Fund known as Investor Education & Protection Fund constituted under Section 205C of the Companies Act after the expiry of 7 years from the date of transfer to the special "Unpaid Dividend Account" of the company.
BPC has been sending reminder letters to the Shareholders whose dividend remains unclaimed before transferring it as stated above. It is suggested that if you have any unclaimed dividend, please write to BPC or its R&T Agents, with full details alongwith indemnity which will enable us to take appropriate action for issuing duplicate dividend warrant.
Payment of dividend through National Electronic Clearing Service (NECS)
Securities and Exchange Board of India (SEBI) has made it mandatory for all companies to use the Electronic Mode of Remittance for payment of dividends.
You may be aware that as per RBI Notification, remittance of money through Electronic Clearance Service (ECS) has been replaced by National Electronic Clearance Service (NECS) with effect from 1st October, 2009.
The advantages of NECS over ECS include faster credit of remittance to beneficiary’s account, wider coverage with no limitations of location in India besides ease of operations for remitting agencies NECS essentially operates on the new and unique bank account number, allotted by banks post implementation of Core Banking Solutions (CBS) for centralized processing of inward instructions and efficiency in handling bulk transactions.
In this regard you are requested to furnish the new Bank Account Number allotted by the banks post implementation of CBS, along with a blank cancelled cheque or phothocopy of a cheque pertaining to the concerned account;
- to the Share Transfer Agent (STA) in case you hold shares in physical form
- to the concerned Depository Participant (DP) in case you hold shares in demat form.
The Shareholders are requested to avail this facility. Duly filled in ECS Mandate forms can be sent directly to our Registrars & Share Transfer Agents at the following address:
M/s Data Software Research Co Pvt Ltd
#9 Pycroft Garden Road
Off Haddows Road
Tel.: +91-44-2821 2154
You may submit the duly completed ECS Mandate Form along with a copy of your Bank's cheque. ECS Mandate Form can be obtained from BPCs Investor Services Cell or from the R&T Agents.
Payment of dividend
As per the amendment to the Companies Act 1956, the nomination can be made by individuals on their own behalf singly or jointly. Non individuals including society, trust, body corporate, partnership firm, karta of Hindu Undivided Family, holder of power of attorney cannot nominate. If the shares are held jointly all joint holders will sign the nomination form. A minor can be nominated by a holder of shares and in that event the name and address of the guardian shall be given by the holder. Transfer of shares in favour of a nominee shall be valid discharge by a Company against the legal heir. The nominee shall not be a trust, society, body corporate, partnership firm, karta of Hindu Undivided Family or a power of attorney holder. A non-resident can be a nominee on re-patriable basis. Nomination stands rescinded upon transfer of shares.
Please read above instructions carefully before sending nomination and retain a copy of the nomination form with you and get confirmation of the same from office.