Transfer of Shares in a private limited company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2010
please let me know, what is the requirement for transfer of shares of a private limited company as per Table A when there is death of the shareholder and no nomination has been done.
SANJAY TALATI
(Expert)
08 September 2010
First of all , check up whether the AOA of your company contains the procedures for transmission of the shares in case o the death of the members.
Regulation 25 to 28 of the Table A of Schedule contains the regulations relating to the transmision of shares.
Take a simple application from the legal representative alongwith the following documents :
(i) Certified copy of the Death cert.
(ii) Probate/Succession certificate
(iii) Specimen signature of the Successor.
If a member of the company dies leaving the "will", then obtain a copy of the wioll duly certified by the court of Competnent Jurisdiction. In case no will is there then the sucession certificate certified by the court will suffice.
Regulation 25 to 28 of the Table A of Schedule contains the regulations relating to the transmision of shares.
Take a simple application from the legal representative alongwith the following documents :
(i) Certified copy of the Death cert.
(ii) Probate/Succession certificate
(iii) Specimen signature of the Successor.
If a member of the company dies leaving the "will", then obtain a copy of the wioll duly certified by the court of Competnent Jurisdiction. In case no will is there then the sucession certificate certified by the court will suffice.
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