What can I do to get back money in my name ?

Querist : Anonymous (Querist) 09 October 2010 This query is : Resolved
I had invested money in equity on behalf of my son, now he has gone to usa and does not wish to come back , I wish to sell shares as I am aging. What can I do to get back money in my name

SON IS FIRST HOLDER ,

FATHER IS SECOND HOLDER

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Khaleel Ahmed Mohammed (Expert) 09 October 2010
You are advised hereby to take G.P.A from your son.

R.Ranganathan (Expert) 09 October 2010
You have to get your son to sign the documents either himself or else you have to get a Power of Attorney in your favour from your son.

R.Ramachandran (Expert) 10 October 2010
Dear Anonymous,
I understand that all these equities would be in de-mat format. That means your son would be having demat account with a depository.
The best possible method in this case is as under:
It is possible for your son to get on-line trading facility. Even while in USA, he can transact and sell the shares. However, the sale proceeds would go to his bank account.

Rajeev kulshreshtha (Expert) 10 October 2010
Yes.

Daksh (Expert) 11 October 2010
The other way could be he can give a NOC in your favour by which these shares could be transferred in your favour.

Best Regards

Daksh

pawan sharma (Expert) 13 October 2010
agree with Mr.Daksh.

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