1.	Who is the Registrar and Share Transfer Agent of The J&K Bank Ltd?
2.	What were the rates of dividend declared by the Bank in the last two financial years?
3.	On which Stock Exchanges are the shares of The J&K Bank Ltd. listed?
4.	What is the symbol for The Jammu & Kashmir Bank Ltd. on these stock exchanges?
5.	How does the Depository System operate?
6.	How do I dematerialise my shares?
7.	Is dematerialisation compulsory?
8.	Once shares are dematerialised, can they be converted into physical shares?
9.	I have not received my dividend. What action am I required to take?
10.	What is the procedure involved in obtaining a duplicate dividend warrant?
11.	Can old dividends relating to past years that I have not received be claimed?
12.	In order to protect against fraudulent encashment, I want to incorporate the details of my bank account in my dividend warrant. What is the procedure that I should follow?
13.	What is Electronic Clearing Service (ECS)?
14.	How can I avail of the Electronic Clearing Service facility?
15.	What is the procedure involved in obtaining Duplicate Share Certificate?
16.	What is the procedure involved in Transmission of Shares?
17.	What is the procedure involved in Transfer of Shares?

 

2.What were the rates of dividend declared by the Bank in the last two financial years?

The J&K Bank declared a dividend of 80% and 115% for the years ended March 31, 2006 and March 31, 2007 respectively

The shares of the J&K Bank are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The symbols of the Bank on the BSE and the NSE are J&K BANK (scrip code 532209) and J&KBANK respectively.

The process flow is enumerated below: -

• Investor is required to have an account with a Depository Participant (DP) and a unique Client ID (provided by the DP on opening an account)
• A Dematerialisation Request Form (DRF) is required to be completed and the physical shares intended to be dematerialised have to be surrendered to the DP
• On receipt of the shares and the DRF, the DP will send an electronic request through the Depository to the company for confirmation of dematerialisation. Each request will bear a unique transaction number.
• DP will surrender the DRF and the shares to the company with a covering letter requesting the company to confirm the dematerialisation. After verifying the documents received from the DP, the company will confirm the dematerialisation to the Depository.
• This confirmation will be passed on from the Depository to the DP. After receiving confirmation from the Depository, the DP will credit the account of the investor with the dematerialised shares.

The DP will then hold the shares in the dematerialised form on behalf of the investor and the investor will become the beneficial owner of these dematerialised shares.

Dematerialization is not compulsory. According to the Depositories Act, 1996, an investor has the option to hold shares either in physical or in dematerialised form.

8.Once shares are dematerialised, can they be converted into physical shares?

If the shares are held in electronic form, Rematerialisation Request Form (RRF) through your DP can convert the shares into physical form. Upon receiving such a request from your DP, the company will issue share certificates for the rematerialised shares.

No duplicate can be issued during the validity of original dividend warrant. Thus, if the validity period of the lost dividend warrant has not yet expired, you will have to wait till the expiry date. However, once the validity period has expired, if the dividend warrant is still shown as unpaid in our Bank Statement, a duplicate warrant shall be issued to you on receipt of an application from you.

If you hold shares in the physical form, please submit your folio number, name, details of bank and account number to: -

The Company Secretary,
The J&K Bank Ltd,
Board Secretariat, Corporate Headquarters,
M.A. Road, Srinagar 190001

OR

Karvy Computershare Pvt Ltd,
Unit J&K Bank Ltd,
Plot No. 17-24, Vittalrao Nagar,
Madhapur, Hyderabad 500081
Andhra Pradesh, India.

and we shall incorporate the same in all your future dividend warrants.

However, if you hold the shares in dematerialised form, these details will have to be provided to the Depository Participant with whom you have a dematerialisation account. Your Depository Participant in turn will pass on this information to the company. This procedure is in accordance with depository regulations. 

Under this system, you can receive your dividend electronically by way of direct credit to your bank account. This avoids a lot of hassles like loss/fraudulent interception of dividend warrants during postal transit. This also expedites payment through credit to your account compared to dividend warrants in physical form. We would strongly recommend that you opt for Electronic Clearing Service if you have not done so already.

You are required to submit the ECS form, duly completed, along with a photocopy of a leaf of your cheque as advised in the Form and we shall take due note of the same in our records. All subsequent dividends will be paid to you through direct credit to your bank account.
 

15. What is the procedure involved in obtaining Duplicate Share Certificate?

A request letter duly signed by the registered holder(s) as per the specimen signature recorded with the Bank, bearing certificate number(s), distinctive numbers and registered folio number is required. On receipt of the letter, the Bank/Registrar will mark ‘Stop Transfer’ caution in the books of records on the share certificate(s)/ Folio, as requested by the shareholder(s).

For issue of duplicate share certificate(s), the shareholder(s) has to comply with the following documents:-

1. An Indemnity Bond on Non Judicial Stamp Paper of Rs.100/-

2. An Affidavit on Non Judicial Stamp Paper of Rs.20/-

3. As per SEBI guidelines, a F.I.R is compulsory for issue of duplicate share certificates. A certified true copy of the F.I.R. bearing certificate number(s), distinctive number(s) and folio number(s) of the lost shares should be submitted with the documents as stated above.

On receipt of the duplicate documents, the Registrar/Bank will verify the documents and on finding them in order, will place the request(s) before the Board of Directors of the Bank for necessary approval. Upon receipt of approval, the duplicate share certificate(s) will be issued subject to public notification and other statutory formalities and duplicate share certificate(s) will be dispatched to the registered holder.
 

16. What is the procedure involved in Transmission of Shares?

When the shares are registered in single name (Sole name) and the registered holder is deceased, the said shares can be transmitted to the legal heirs on the strength of the following documents:-

1. Certified true copy of Death Certificate of the Deceased.
2. Certified true copy of Succession/Probate/Letter of Administration.
3. No Objection Letter from the other legal heirs if any

In case the successor(s)/claimant(s) are not in a position to furnish the legal representation documents as stated above, they may execute without legal representation, the documents such as Indemnity Bond, Affidavit and Relinquishment Deed. The said documents will be placed before the Board of Directors of the Bank for necessary approval.

On receipt of approval, the transmission will be put through normal transfer process and the endorsed share certificate(s) will be dispatched to the successor(s)/claimant(s) accordingly.
 

17. What is the procedure involved in Transfer of Shares?

Transfer Deed (Form 7B) prescribed by the Registrar of Companies, pursuant to Section 108 (1A) of the Companies Act, 1956 has to be executed by the seller and buyer on the column provided.

1. Name of the Company/Bank
2. Consideration Amount (share value on purchase date into number of shares)
3. No of Shares
4. Distinctive Number(s)
5. Certificate Number(s)
6. Folio No. (Seller)
7. Seller’s Name(s)
8. Seller’s Signature(s)
9. Name and Address of the Witness(es)
10. Buyer’s Name(s)
11. Buyer's Signature(s)
12. Parentage Name
13. Occupation
14. Date of Execution (the day on which the shares were purchased)
15. Stamp Duty *
16. Buyer’s Specimen Signature(s)

* A stamp duty of Rs 5/- is to be paid on every rupees hundred or part thereof of the value of share(s) in case the Share Transfer Deed is executed in J&K State and 50 paise for every rupees hundred or part thereof of the value of Share(s), in case Share Transfer Deed is executed in any other state in India. It may be noted that as per Section 21, the duty has to be calculated on the basis of market price prevalent on the date of instrument and not on the face value of shares.

The valid Transfer Deed accompanied with the share certificate(s) will be processed for share transfer as per the executed Transfer Deed and the same will be put-up before the Share Transfer Committee of the Bank for their approval on weekly basis. Subject to their approval, the endorsed share certificate(s) will be dispatched to the buyer as per address mentioned on the Transfer Deed.