Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Shares transmission query

Save Share

This query is : Resolved

Nitesh Kumar Gupta (Querist)
Follow

05 September 2019 "A" was a Director in a Company. He had one son and two daughter named as x, y and z. "A" made a "will" and registered with their registrar in 2013. He wrote in the will that the shares held by him in the company will be transmitted to his son "x" and daughter "y" in the ratio of 50% each. "A" expired in 2017. Now his son "x" requested the company to transmit 50% share in his name. He also submitted photocopy of will along with Death Certificate of Father and Mother. Please clarify :

1. Whether 50% share transmitted to the son "x" is or not.

2. If yes, then what the formalities should be done by the company.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

05 September 2019 Companies normally ask for PROBATE. It is suggested to get PROBATE from Court and then the shares will be transferred/transmitted as per the PROBATE

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now