Transmission of shares without succession certificate

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Querist : Anonymous

Querist : Anonymous (Querist)

21 May 2016 can transmission of shares be valid if done through indemnity in case legal representative of deceased doesnt have succession certificate?

if valid then please provide me legal guidance/source of such.

pls rpl asap

Jatin Bajaj

Jatin Bajaj (Expert)
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23 May 2016 Yes, Transmission of share could be valid without obtaining succession certificate. However Board of Directors should ensure that sufficient evidence has been produced by the legal heirs. Following documents shall be submitted to the Company.
Certified Copy of death Certificate
Particulars and signatures of all legal heirs
Affidavit on non judicial stamp paper certified by notary
Indeminity bond on non judicial stamp paper
PAN of legal heir.

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Querist : Anonymous

Querist : Anonymous (Querist)

23 May 2016 Thank you
Mr. Jatin Bajaj
for your reply and solving my confusion.
and 1 more thing i want to know that provision of Articles if not provide for this matter then what should do?