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Individual Investors

Individual Investors

Investor Service

All share related matters viz., transfer, transmission, transposition, nomination, dividend, change of name / address / signature, registration of mandate / Power of Attorney, replacement / split / consolidation / demat / remat of shares, issue of duplicate certificates etc. are being handled by the Company’s Registrars and Transfer Agents (R&TA) M/s. Link Intime India Private Limited (LIIPL). Investors are requested to correspond directly with LIIPL, on all share related matters.

The Company has an established mechanism for investor service and grievance handling, with LIIPL and the Company has designated its Company Secretary as Compliance Officer.

The Company has prescribed service standards for various investor related activities being handled by LIIPL. Any deviation there from is examined by the Company who also advise the corrective actions thereon and inform LIIPL on the matters on a monthly basis.
The Board of Directors of the Company has constituted a Transfer / Investors’ Grievance Committee (the Committee) which, inter alia, approves issue of duplicate certificates, Splitting of share certificate and oversees and reviews all matters connected with share transfers and other processes. The Committee also looks into redress of shareholders’ complaints related to transfer of shares, non-receipt of balance sheet, non-receipt of declared dividend etc. The Committee oversees performance of the R&TA and recommends measures for overall improvement in the quality of investor services.

Dematerialisation / Rematerialisation of Shares

Although India had a vibrant capital market which is more than a century old, the paper-based settlement of trades caused substantial problems like bad delivery and delayed transfer of title till recently.

The Depositories Act, 1996 has been enacted to regulate the matters related and incidental to the operation of Depositories and demat operations. National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL) are the only two Depositories in operation.

The enactment of Depositories Act in August 1996, Dematerialisation / Rematerialisation of Shares came into existence.
Dematerialisation of Shares (Demat) signifies the conversion of a share certificate from its present physical form to electronic form for the same number of holdings and vice versa.

It is direct application of scope provided by the tremendous progress made in the area of Information Technology, whereby voluminous and cumbersome paper work involved in the scip based system is eliminated.

It offers scope for paperless trading through state-of the art technology, whereby share transactions and transfers are processed electronically without involving any share certificate or transfer deed after the share certificates have been converted from physical to electronic form.

Demat attempts to avoid the time consuming and complex process of getting shares transferred in the name of buyers and also aims to shirk inherent problems of bad deliveries, delay in processing / fraudulent interception in postal transit, etc.

Demat is optional and an investor can still hold shares in the physical form. However, the Investor has to demat the shares if they are to be sold through Stock Exchanges. Similarly if an Investor purchases shares they will be delivered in demat form.

Rematerialisation of Shares (Remat) is the term used for converting electronic holdings back into Certificates.

The shares of the Company are being traded in Demat form from 1998.

   Benefits of Demat

Immediate transfer of shares.
No formal registration required.
No stamp duty applicable.
No additional holding/transaction cost to Shareholders pursuant to SEBI directions of January 28, 2005.
No requirement for approval of Board of Directors of the Company for transfers.
Quick settlements.
Shareholders need not worry about the space required for preserving certificates in case of large holdings.
Avoidance of loss through loss in transit, theft, mutilation, forging of share certificates.
Widely accepted for pledging against borrowings with lower interest rates.
SEBI Guidelines prescribe further issues in electronic mode only.
Facilitates the Company to determine entitlements easily and faster.
Details of investors are obtained from the Beneficiary Position (Benpos) and hence cannot be manipulated by companies.
Dematerialised shares can be rematerialised or changed into physical form whenever the shareholder so wish.

Transfer of Shares
The shares of the Company are under compulsory Trading in Demat form only. However, Internal Transfers are considered

Transmission of Shares

The Word “Transmission” means transfer by operation of law i.e. devolution of title to shares. This would include devolution by operation of law, death, bankruptcy, marriage.

If the shares were held in single name, the successors or beneficiaries under a Will executed by the deceased would be the persons in whose favour the shares would be transmitted. In order to expedite transmission of shares, please submit all the share certificates along with any one of the following documents, viz. Succession Certificate or Probate of the Will or Letter of Administration or Legal Heir Certificate / Survival Certificate issued by competent authorities of the Government

If the shares are held in joint name(s), please submit a certified copy of the Death Certificate of the deceased shareholder along with all the relevant share certificates so that the name deceased could be deleted from records as well as the certificates.

Transposition of Shares

Transposition of names of shareholders i.e. change in the order of names does not require any Transfer Deed or Share Transfer Stamps. Transposition would be done of the entire holing in any folio.

Such request has to be submitted duly signed by all shareholders and submitted along with all the original share certificates.

Share certificates along with a request letter duly signed by all the joint holders may be sent to the Company’s R&TA for change in order of names

Transposition can be done only for the entire holdings under a folio and therefore, requests for transposition of part holding cannot be accepted by the Company / R&TA.

Duplicate Share Certificates

In case of torn, mutilated or lost share certificates, the shareholders are eligible to receive duplicate share certificates in lieu of the same. The shareholders have to surrender their original torn or mutilated share certificates to the Company, along with a request for issue of duplicate share certificates.

The shareholder should inform the Company immediately the loss of share certificates to register a ‘STOP TRANSFER’ in the system to enable not to proceed with any further transaction on the said share certificates.To give the stop transfer effect shareholder should serve upon a notice from competent court of law.

The shareholder should submit the following documents to obtain Duplicate Share Certificates

An Indemnity Bond to be executed on a Rs. 200/- Non Judicial Stamp Paper in favour of the Company and the bond should be notorised
A notorised Affidavit to be executed on Rs. 100 Stamp Paper.
Copy of FIR
Demand Draft of Rs. 3000/- for publishing Advertisement.
Bank attestation letter

Change of Address

The Shareholders who hold share certificates in physical form are requested to intimate their change of address duly signed by all holders to the Registrar along with the following :

The old address
The detailed New address along with the pin code
Telephone no. / other contact no. / Email address
The signature on the request of change of address should tally as per the specimen signature recorded with the Company / Registrar.
A Copy of Telephone bill / Electricity Bill / any other document evidencing the new address should form as enclosure of the request of change of address.

The shareholders who hold shares in electronic form, are requested to intimate their change of address to the depository participant with whom they maintain their demat account and not to the company or the share transfer agent.

Nomination of shares
Section 109A of the Companies Act, 1956 provides the facility of nomination to share holders.

Nomination enables smooth inheritance of ownership of the shares by the Nominee without any procedural difficulties. (Presently, there is no difficulty where shares are registered in joint names. But if the shares are held in an individual name, addition of a joint name can only be done as a transfer, involving share transfer form, stamp duty, surrender of original certificates etc. Following the nomination procedure eliminates all this inconvenience) Therefore, if shares are held in a single name, with the intention of holding them for some more time, then please advise nomination immediately without delay.
In the case of joint holding of shares by individuals, nomination will be effective only in the event of the death of all joint holders.

Bank Details / Mandate

The shareholders holding shares in physical form are requested to inform their Bank Details / Mandate (New / change ) duly signed by all holders to the registrar along with a photo copy of cancelled cheque.

The shareholders holding shares in electronic form are requested to inform their Bank Details / Mandate (New / change ) duly signed by all holders to the Depositary Participant along with a photo copy of cancelled cheque.

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