Chartered Accountant (N A) (37 Points)

24 November 2022  

Hi all

In case of a private limited company having two shareholders, upon sudden death of one of the shareholders what happens to the share capital of the company?

Shares cannot be transferred by way of an agreement because of the death of the shareholder

Does his right in shares of the company gets transferred to his successor/s legal heirs?

if above is true what is the procedure for transfer of shares do we need to inform MCA?