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Issue of shares

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08 November 2011 one shareholders having 500 shares in pvt ltd. co. & he is died, after some time co. issue bonus shares for existing shareholders on dt 28/03/2011. is co. issue bonus shares in the name of deceased shareholder, is this possible, what law related this matter plz reply me.
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U S Sharma

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U S Sharma (Expert)
08 November 2011 unless the death is reported to company register, such allotment is valid, and original as well as bonus shares would be property of legal successor on claim.

normaly board allows to transfer shares in name of any family member on board's discretion, which is applicable to bonus shares also at par with original shares.
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