What is the procedure for transposition and de-materialization of jointly held shares?
To de-materialize jointly held shares, the names on the joint demat account must be in the same sequence as on the share certificates.
When the order of names of the joint shareholders on the share certificate is not the same as the order of names on Joint demat account, you will have to submit the transposition form along with the following documents needed for de-materialization.
Note: The transposition form will have to be signed in the same order as on the joint demat account.
For example, lets say Mr.A and Mr.B are joint share holders of SBI shares. Mr.A is the first named shareholder and the Mr.B is the second named shareholder. Now, Mr.A & Mr.B have a joint demat account. However, the first demat account holder is Mr.B and the second holder is Mr.A. So, in this case, to de-materialize shares of SBI, they have to submit the transposition form signed first by Mr.B as the first holder and Mr.B as the second holder.
To dematerialize your physical share certificates you'll have to submit:-
1. Three copies of dematerialization request form for each scrip/company (3 DRFs will be sufficient for up to 4 share certificates of the same company. In case you have more than 4 certificates then you will have to submit an extra DRF).
2. DRF (Dematerialization Request form) should be signed in the ‘Signature with DP’ and ‘Signature with RTA/Issuer’ fields and also mention the Client ID (If It is a joint account then both the holders need to sign).
3. The original share certificates should be submitted along with the DRFs. (You can keep a photocopy with you)
4. A self-attested copy of your PAN.
Send the above to below address:-
Zerodha HO [#153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore - 560078]
Once you submit the above, the RTA (Registrar And Share Transfer Agent) will take up to 25 days to complete the dematerialization process.