Share transfer of a deceased shareholder

Requirement of documents/evidence for transmission of shares

Where title of shares comes to vest in another person by operation of law, it is not necessary to execute and submit transfer deed. A simple application to the company by a legal representative along with the following necessary evidence is sufficient:-

1.      Certified copy of death certificate

2.      Succession certificate

3.      Probate

4.      Specimen signature of the successor.

However the requirement of these certificate is not essential and depends on various circumstances of the case. Where the  succession certificate has been granted in respect of shares, the company can not insist on the production of probate or letter of administration, the certificate affords full indemnity to company.{Thenappa Chettiar v. Indian Overseas Bank Ltd.(1943)}

Thanks alot for the reply.

The legal heirs should obtain a Succession Certificate or Letter of Administration with respect to the shares and a true copy of the same, duly attested by the Court Officer, or Notary should be sent to the company along with a request letter, transmission form, and all the share certificates in original, for transmission in their favour.