Share Recovery Agent in Indore
Indore has one of the highest densities of old retail shareholding in central India, and a particular complication the rest of the country largely escaped. We help Malwa families recover dormant folios, physical certificates and shares taken into the IEPF.
Claims are handled remotely, documents travel by courier, and there is no advance professional fee.
Serving Indore, Madhya Pradesh · Indore district from our Gurugram officeReviewed 25 September 2026
A trading city, and a regional exchange that closed
Indore is Madhya Pradesh’s commercial capital and has been a trading city for far longer than it has been an industrial one. Malwa business families were active retail subscribers through the public issue years, and the textile mills that once defined the city left their own legacy of small shareholdings spread across a large number of households.
What makes Indore unusual is the regional exchange. For decades, companies raising money here listed locally rather than in Mumbai, and investors bought shares in businesses whose only listing was regional. SEBI’s exit policy for regional stock exchanges then saw those exchanges wind up their trading operations, and shareholders were left holding certificates in companies that no longer had a market anywhere.
Those holdings are not worthless, but they are not simple either. Some of the companies migrated to the national exchanges and are liquid today; some were absorbed into larger groups; some are dormant or struck off. Establishing which applies is the first real piece of work on an Indore file, and it is done through registrar and MCA records rather than guesswork.
What Madhya Pradesh families need to produce
In Madhya Pradesh the legal heir certificate is issued by the Tehsildar and applied for at a Lok Seva Kendra, which brings it under the state public service guarantee timetable. The Patwari verifies the heirs locally. Succession certificate petitions go to the district court where the deceased ordinarily lived.
In many cases no such certificate is needed. SEBI’s simplified transmission route covers holdings up to ₹10 lakh per company in physical form and ₹30 lakh in demat, on a notarised indemnity bond and an affidavit-cum-NOC from the other legal heirs.
- Death certificate, SEBI’s transmission request form (Annexure-3) and the claimant’s KYC documents
- Notarised indemnity bond and affidavit-cum-NOC from the other legal heirs
- A Tehsildar’s legal heir certificate from a Lok Seva Kendra, or a succession certificate, only above SEBI’s limits
- A demat account in the claimant’s name, with a Client Master List under two months old
What we handle for clients in Indore
How a Indore claim actually runs
Five stages, the same wherever you are. Nothing here needs you to travel, and nothing is billed until the last one.
- 1
Free assessment
You send whatever you have — a certificate, a folio number, a name, sometimes only a company. We tell you what exists and what it is likely worth before you commit to anything.
- 2
Tracing and confirmation
We search the IEPF records and write to the registrar to confirm the holding, the corporate actions applied to it since, and who it currently stands in the name of.
- 3
Documents assembled
Death certificate, heirship evidence, indemnity bond, NOCs, KYC and the demat account details — prepared in the order the registrar and the company will want them.
- 4
Filing and follow-up
Form IEPF-5, the transmission request or the duplicate issue is filed, and we chase the company Nodal Officer and the Authority until the verification report moves.
- 5
Shares credited
The securities are credited directly to your own demat account. Our fee becomes payable at this point, and not before.
Zero advance fee — what Indore clients pay, and when
We charge no advance professional fee. Our fee is a percentage agreed with you before we start, payable only once the shares or dividends have reached your own demat or bank account. If nothing is recovered, you owe us no professional fee at all.
- Nothing to pay for the assessment, and nothing while the claim is running
- The percentage is fixed in writing before any work starts — it does not move later
- Statutory and third-party costs — stamp duty, notary, court fees, newspaper notices — are paid by you at actuals, with receipts
- Shares are credited to your account, never to ours; we never take custody of your securities
Anyone who asks you for money before a claim has been assessed is worth walking away from. Read the full fee policy.
Areas we cover around Indore
Claims are handled remotely across Madhya Pradesh, with documents collected by courier and identity verified over video. There is no need to travel to our office.
- Vijay Nagar
- Palasia
- Rajwada
- Sudama Nagar
- Pithampur
- Mhow
- Dewas
Questions from Indore
Do you have an office in Indore?
No. We work from Gurugram and serve Indore remotely. We do not claim branches we do not have.
My shares are in a company that was listed only on the Indore exchange.
Then the first question is what became of the company, not of the exchange. Many such companies moved to the national exchanges, merged, or were renamed, and the holding follows. Send us the certificate details and we will trace the company through registrar and MCA records before anyone spends money on the claim.
How long does a legal heir certificate take in Madhya Pradesh?
It is applied for at a Lok Seva Kendra, which brings it within the state public service guarantee timetable, and the Patwari’s verification is the step that usually sets the pace. For most share claims inside SEBI’s value limits you will not need one at all.
Could I do this myself?
Yes, and for a single straightforward folio you probably should. The IEPF Authority’s records can be searched free, and Form IEPF-5 can be filed by anyone. We charge for assembling the documentation, handling the registrar and company verification, and following it through — not for access to something that is public.
What will it cost, and when?
Nothing in advance. An agreed percentage of the recovered value is charged after the shares are credited to your demat account, and government or third-party costs — stamp duty, notary, court fees, newspaper notices — are paid by you at actuals.