Reclaiming Your Shares Held at Karvy: A Comprehensive Guide

Are you seeking to reclaim your shares that are currently held at Karvy? This guide will walk you through the steps you need to take, ensuring clarity and ease in understanding the process. Whether you suspect misappropriation or simply need to close and transfer your shares, we will provide you with the necessary guidance.

1. Requesting a Statement from Karvy

The first step in reclaiming your shares from Karvy is to formally request a statement from the company. This is crucial for verifying the status of your shares and identifying any discrepancies. Here’s what you need to do:

Visit Karvy’s official website or contact their customer service department. Request a statement of account for the specific shares in question. Make sure to include the relevant share details such as the share code, number of shares, and your client ID. Be as detailed as possible in your request. Attach any relevant documents if necessary, such as proof of ownership or any previous correspondence with Karvy. Follow up if you do not receive a response within a reasonable timeframe. Persistence is key in such matters.

Having a statement of account will provide you with a clear record of your shares and can be used as evidence if any further action is required.

2. Reporting Misappropriation to SEBI

If you have evidence of misappropriation of your shares by Karvy, it is important to report this to SEBI (Securities and Exchange Board of India) promptly. Here’s how to do it:

Collect all evidence and documentation that supports your claims. This could include witness statements, emails, transaction records, and any other relevant documents. Visit the SEBI SCORES (SEBI Complaint Resolution Service) portal at Fill out the complaint form with accurate and detailed information. Make sure to include all the evidence and documentation you have collected. Submit the complaint form and monitor the status of your complaint through the portal.

By reporting misappropriation, you are taking a proactive step to safeguard your financial interests and ensuring accountability.

3. Closing and Transferring Shares Through Dis Book Delivery Instruction Slip

If there has been no misappropriation, and you simply need to close and transfer your shares, you can do so using the Dis Book Delivery Instruction Slip. This process involves the following steps:

Locate the Dis Book Delivery Instruction Slip. This is typically provided by your stock broker or registered agent at Karvy. Filling out the slip with the necessary information. Ensure that all details are accurate and complete, including the number of shares you wish to close or transfer. Submit the slip to Karvy. They will process your request and provide you with an updated statement of account. It is advisable to request a confirmation of the transaction once it has been processed. Keep all communication for future reference. Finalize the transaction, which usually takes 3 business days. During this period, you may not have physical possession of the shares, but legal ownership will be transferred.

By following these steps, you can ensure a smooth and timely transfer or closure of your shares.

Conclusion

Reclaiming or managing shares held at Karvy can be a straightforward process if you follow these steps meticulously. Whether you need to request a statement, report misappropriation to SEBI, or close and transfer your shares, taking the appropriate action can help protect your financial interests. Should you encounter any complications or require further assistance, consulting with a financial advisor or legal expert is advisable.