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Share transfer

nikhil mundhra (article) (24 Points)

29 June 2011

hello,

i got physical share certificates of my grand father he has expired , there is no will no nominee . what is the legal process of claiming ownership to those shares.

plese do reply.

thank you

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4 Replies

Nidhi Jain (CS ) (987 Points)
Replied 30 June 2011

I think u have to inform this to concerned Co. and these shares is to be transmitted in the name of elder son of ur grandfather.

I can be wrong

Other view are invited

Vikash Kumar (Manager Accounts (CA. Final)) (694 Points)
Replied 30 June 2011

Originally posted by : Nidhi Jain
	I think u have to inform this to concerned Co. and these shares is to be transmitted in the name of elder son of ur grandfather. I can be wrong Other view are invited

Attach Supporting Documents-death certificate of ur grand father, relationship proof.

Nidhi Jain (CS ) (987 Points)
Replied 30 June 2011

Hi Nikhil

Answer of ur Query is: I assume u want to get shares in name of legal representative of ur grandfather i.e elder son of ur Grand father

Section 109- Transfer of Shares by legal representative NOT APPLICABLE IN UR CASE

Section 109A- Nomination may be made by every shareholder or debentureholder AGAIN NOT APPLICABLE IN UR CASE

Section 109B- transmission of shares 9language of subsection 1 of this section is Any person who becomes a nominee by virtue of section 109A upon production of such evidence as required by the Board and elect either the following:

1. registered himself as holder of such shares or debentures

2. To make transfer of such shares or debentures(I mean this section again deal with nominee not legal heirs)

After analysing these Section i can say u have to submit following things to Company (By A. Ramaya)

1. Death Certificate of ur Grand father

2. Specimen signatures of Successors

3. succession certificate or probate ( Where there is no will Court order regarding u r entitlement for succession) or letter of administeration(Where administrator is appointed by court) and in case of small holdings, indeminity bond and affidavit on non judical stamp paper

4. NOS where more than one legal heirs exist

I think now ur Query is fully solved

If u have any doubt u can ask freely

And now thanks to share such type of Query

when practically this problem solved pls convey full details about ot so that everyone of us gain practical aspect of such situation

R SUBRAMANIAN (NA) (56 Points)
Replied 22 August 2011

I may suggest that you can take up with the company's registrars and they will advise you regarding this. As stated by Ms.Jain, if no nomination is registered, you may have to obtain a succession certificate and write to the company requesting them to transfer the shares in the name of the person named in the Succession Certificate.