When converting physical share certificates to electronic format, one of the most common reasons for rejection is a discrepancy in the shareholder’s identity records. Because paper certificates were often issued decades ago, they may contain spelling errors, name variations, or signature styles that no longer match your modern KYC documents (like PAN card or Aadhaar).
To successfully dematerialise your investments, you must resolve these variations. This guide provides a detailed walkthrough of the RTA name correction process and explains how to address a name correction in share certificate issues.
Type 1: Minor Spelling Errors or Variations
If the difference between the certificate name and your PAN/Aadhaar is minor—such as a typo (e.g., “Kiran Kumar” vs. “Kirankumar”) or the omission of a middle name—the RTA can process the correction with simplified documentation:
- Obtain Form ISR-1: This is the standard SEBI form for registering KYC details with the RTA. Fill in the correct name and folio details.
- Submit a Joint Affidavit: Execute an affidavit on non-judicial stamp paper stating that the name printed on the certificate and the name on your PAN belong to the same person.
- Verify Signature (Form ISR-2): Your signature must be attested by your bank manager using Form ISR-2. The manager’s attestation must be done on the bank’s official letterhead or bear the manager’s unique employee code, and the signature must match the active bank account linked with your Demat account.
- KYC Documents: Provide self-attested copies of your PAN card, Aadhaar card, and a client master list (CML) of your Demat account.
Submit these documents to the RTA. Once they update their database, you can resubmit the shares for dematerialisation.
Type 2: Major Name Changes (Marriage, Divorce, or Gazette Names)
If there is a major difference in your name—such as a surname change after marriage, a legally changed name, or a completely different name structure—the requirements are more stringent:
- Gazette Notification: A copy of the official Government Gazette publication announcing your name change.
- Marriage Certificate: For name changes post-marriage, a government-issued marriage certificate is required.
- KYC Documents in the New Name: Your PAN and Aadhaar must already reflect the newly corrected name.
- Indemnity Bond: An indemnity bond executed on stamp paper, protecting the company from any liability arising from the name change.
Type 3: Mismatches in Joint Holder Names or Orders
Sometimes, physical certificates have two or three joint holders, but the order of the names on the certificates differs from the order on the joint Demat account.
For example, if the certificate lists “Holder A and Holder B,” but your Demat account lists “Holder B and Holder A,” the DP will reject the request. In this case:
- You do not need to change the names. Instead, you can file a Transposition Request Form (TRF). This allows the DP to change the order of names during dematerialisation to match the Demat account order.
- If one of the joint holders is deceased, you must first transmit the shares to the survivor before transposition. Learn more in our Deceased Shareholder Transmission Guide.
FAQs
What is Form ISR-1 and ISR-2?
SEBI introduced Form ISR-1 and ISR-2 as standardized formats for investors to update their KYC details (PAN, address, email, bank details) and signature attestation respectively with RTAs. These forms are mandatory for any physical share updates.
Can I correct my signature without visiting the RTA?
Yes. Signature updates are processed through the bank. You must fill out Form ISR-2 and have it attested, signed, and stamped by your bank manager. The RTA will update their specimen signature records based on this bank verification.
What is the cost of executing an affidavit for name correction?
Affidavits are typically executed on ₹20 or ₹50 stamp paper (depending on the state regulations) and must be notarized by a legal notary public. RTAs will only accept notarized originals.
What happens if the RTA rejects my name correction request?
If the RTA rejects your request, they will issue a letter outlining the missing documents or discrepancies. You must address the specific queries, get the documents verified, and resubmit them. If you face persistent issues, you can seek assistance on our Physical Share Service Page.