Transfer of shares
This query is : Resolved
01 March 2013
Gud afternoon all,
i have a query
"a shareholder in the public company due to death does not remain to be member of the company, now his legel representative wish to become the shareholder of the company and had proper declaration sanctioned and approved by the court that he is the only legal representative of the deceased shareholders, whare the company refuses to do so because they are demanding succession certificate now what action undertaken by the shareholder so as to get the membership in the company?
i have a query
"a shareholder in the public company due to death does not remain to be member of the company, now his legel representative wish to become the shareholder of the company and had proper declaration sanctioned and approved by the court that he is the only legal representative of the deceased shareholders, whare the company refuses to do so because they are demanding succession certificate now what action undertaken by the shareholder so as to get the membership in the company?
CA Mahavir Shah
(Expert)
01 March 2013
When nomination is not made and shares are held in single name only than Succession Certificate is must.
But many companies are allowing affidavit in lieu of Succession Certificate if Market Value of shares is less than 20000.
But many companies are allowing affidavit in lieu of Succession Certificate if Market Value of shares is less than 20000.
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