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Regarding shares among pvt ltd company

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(Querist)
20 January 2016 Sir,
As in a private limited company suppose there are three shareholders in the pvt ltd company (shares are divided among them 50,25,25 ) if one of the share holder who holds fifty percent of the shares in the company accidentaly died then who are the legal persons that holds the shares in the company after the death of the shareholder who holds 50% of the shares of the company.

Is that happens, that the remaining (25,25 ) two shareholders can transfer the shares of third dead shareholder to their names without the prior notice to the dead shareholder family member.
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Pratik Shah

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Pratik Shah (Expert)
20 January 2016 No..other two can not transfer his shares in their own name. The ownership of such shares shall be transferred to legal heir of deceased (either on basis of his Will or on basis of succession). Without consent of legal heir, the shares can not be transferred to any other person.
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