Partition Suits ?

Sir, please do guide and suggest a solution in below situation:

A deceased person in 1996 left behind shares in physical form of different cos worth to day Rs 5 Crores. Due to evil minds in his family inspite of obtaining LoA from Bombay High Court in 2023 two adminstrators are not moving forward and the third adminstrator aged 78 yrs is forced go for a Partition Suit to get his 20% share without wasting further time. Infact the two adminstrators are waiting for his demise.

How shares in physical form will be valued with all acrued dividends and bonuses by the court. Third adminstrator is willing to pay 3lacs Court fee.

TIA

 

 

Replies (4)
Quick Summary
This discussion concerns a complex inheritance situation where physical shares, now valued at approximately £5 million, have been held since 1996. Despite a Letter of Administration obtained in 2023, two administrators are obstructing the process, leaving a 78-year-old co-administrator seeking a partition suit to secure his 20% share. The query explores how the court will value these physical shares, including accrued dividends and bonuses, and whether the administrator can claim his share based on court-appointed valuation without dematerialisation, given the significant delay.

The court will likely appoint a valuer to determine the value of the physical shares, including any accrued dividends and bonuses.

The valuer will consider factors like the market value of the shares, the company's performance, and any other relevant information to determine their value. 

Once the value is determined, the court will then divide the shares according to the deceased person's will or the relevant inheritance laws.

 If you're willing to pay the court fee, you can file a partition suit to expedite the process.

Keep in mind that the court process can be lengthy and complex, so it's recommended to consult a lawyer who specializes in inheritance and property law to guide you through the process. 

Also, note that as per the current regulations, shares in physical form need to be dematerialized before they can be transferred.

So, the valuer will likely consider this aspect as well while determining the value of the shares.

Sir,

Thanks for your time and inputs in replying to my query on behalf of an elderly friend.

He will contact you if you are available on WhatsApp.

He happens to be from Mumbai.

Regards

Siddhi

 

Sir,

Thanks for your time and inputs in replying to my query on behalf of an elderly friend.

He will contact you if you are available on WhatsApp.

He happens to be from Mumbai.

Regards

Siddhi

 

Sir Ramachary,

My friend don't want for dematerilization of physical shares etc and wants to claim his shares based on the valuation done by the expert appointed by the court?

Is it possible as the matter is dragedon for over 28 yrs and my friend is 77+

Please give your views. Thanks 

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