Share transmission
This query is : Resolved
Varsha Agarwal
(Querist)
12 October 2013
In case of a Private Company, what would be the procedure for the transmission of shares if a deceased director holding shares of the company has not appointed any nominee and has not left any will.
Their is a confilct between the legal heirs and the company has not recievd any request letter for transmission of shares.
Their is a confilct between the legal heirs and the company has not recievd any request letter for transmission of shares.
12 October 2013
The shares will be kept in abeyance by the company ...it means it will not be transmitted to any1 untill the legal disputes is resolved and there is a clear legal heir declared by court.
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Varsha Agarwal
(Querist)
14 October 2013
So by the time will the shares continue to be shown in the name of the deceased director?
15 October 2013
Yes it will be the same as it is and no changes in the name cos legally it cannot be transferred till there is valid legal successor of the shares in eyes of law.
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