Transmission of shares - Board Meeting

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disha makwana (Querist)
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16 September 2010 Dear Expert,

Please advise..
There are equity shares in the name of my mother and HUF of my father in a public ltd co (my father was promoter director in co). My mother & father both have expired. But I do not have probate yet. Co had asked for probate for transmitting shares in my name. So in the board meeting if 2 out of 3 directors (there are total 3 directors: 1 chairman & 2 directors in co) favor that shares be transmitted without probate, is it acceptable. or chairman can deny on this

Jagruti (CS)

Jagruti (CS) (Expert)
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18 September 2010 if majority director agree than transfer can be effected without probate.

Also for safer side Board of Directors can get indemnity from u in case there will be any issue later on.

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