How to sell my fathers Shares issued by Syndicate Bank offline, I have a online trading account?



My Father have shares of Syndicate Bank issued to him offline and he would like to encash them.

I have a online trading account , can I get transferred to me or sell through my online account.

How to sell my fathers Shares issued by Syndicate Bank offline, I have a online trading account?
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2 Replies to “How to sell my fathers Shares issued by Syndicate Bank offline, I have a online trading account?”

  1. If the shares are issued in your father’s name then you can not get them transferred to your online account.

    You can do any of the following:
    1. Get a online demat a/c opened in your father’s name and then get those share’s dematerialized, then you can trade them as per your wish.
    2. Get a plain demat a/c opened in your father’s name and get the shares dematerialized in them, and then fill requisite form and submit to your depository with whom you have opened the demat a/c saying you want to sell those shares.
    3. You can sell those share in physical form itself, approach any share trader, and they will be able to get you a fair deal for your shares.

    Although the 3rd option is the easiest, you wont get best deal in it, because BSE has stopped trading physical shares now. so the buyer will offer you 15-30% less price than the shares are quoting currently on market.

    If you want best deal then would suggest going in for 1st option, especially if your father owns many more such shares in physical form. with 1st option you can choose to sell your shares immediately whenever you feel its the right price you want.

    goodluck


  2. there could be several options, but i think the right one and the best one is

    1. create one demat account in your fathers name, get all the physical shares in electronic form.
    2. ask your father to dispose them. This way you can avoid tax related complications.

    trust me there are tax related complications which u will find difficult to work around if you wish to transfer it to your name and then dispose.

    Please join my yahoo group for intraday tips.
    http://finance.groups.yahoo.com/group/Intraday_Stock_Picks/





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