Death of one of joint shareholder

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When one joint shareholder passes away, the surviving shareholder automatically inherits full ownership of the shares. This is governed by Regulation 23 of Table F, Schedule I of the Companies Act 2013. While this may seem unfair to the deceased shareholder's legal heirs, company registrars strictly follow this provision.

naresh

naresh (Querist)
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19 July 2024 if one joint shareholder dies, then surviving shreholder gets the ownership of shares, right?
my view--> its not fair to legal heirs of shareholder who died, but registrar of listed companies follow above rule
my q--> by which law, this rule is there? sebi or company law? which section?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 July 2024 Under Regulation 23, Table F- Schedule I of Companies Act 2013, among other provisions, which is a crystal clear provision of law that in case of jointly held shares by joint holders, in case of death of one holder, the surviving joint holder would be only the person recognised by the Company as having any title to his/her interests in the shares

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naresh

naresh (Querist)
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12 May 2025 thank u sir , joint shareholder very perfect point 23 , schedule I, table F u found.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 May 2025 You are welcome..
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