Need resolution for transmision of shares

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sanjay (Querist)
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23 January 2013 Hello All
I need the resolution to be passed in case of transmission as per will of the deceased within a family of a pvt ltd co. What are the other documents required?
Kindly mail the resolution at my mail budhiraja.sanjay@rediffmail.com.
Kindly help me.
Regards
Sanjay

Ajay Mishra

Ajay Mishra (Expert)
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23 January 2013 Requirement of documents/evidence for transmission of shares
Where title of shares comes to vest in another person by operation of law, it is not necessary to execute and submit transfer deed. A simple application to the company by a legal representative along with the following necessary evidence is sufficient:-
1. Certified copy of death certificate
2. Succession certificate
3. Probate
4. Specimen signature of the successor.
However the requirement of these certificate is not essential and depends on various circumstances of the case. Where the succession certificate has been granted in respect of shares, the company can not insist on the production of probate or letter of administration, the certificate affords full indemnity to company.{Thenappa Chettiar v. Indian Overseas Bank Ltd.(1943)}

Ajay Mishra

Ajay Mishra (Expert)
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23 January 2013
Board approval of share transmission:

RESOLVED THAT the application(s) as described in the Share Transfer Register being Transmission No. ..….. to ….. for the transfer of Equity/Preference Shares of the company be and are hereby approved and the persons mentioned in the column 'Transferees' in the share Transfer Register be registered members of the company in the place of the respective deceased shareholders.

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