Transfer and transmission

Others 159 views 2 replies

SREENATH P.

Company secretary

208 Points Joined November 2012

Dear experts

One of the investor holdinbg some debentures in demat mode. After his death nominee came with a request to transfer such securities to some other person insted of transmitting to his own name. is it possible?

As per Rule 19 of the Companies (Share Capital and Debenture) Rules, 2014, he may either get the securities registered in his own name or transfer the shares to another person as the deceased shareholder could have performed.

Whether above refered provision have any validity in dmaterialised securities.

Kindly clarify.thanks in advance.

Replies (2)

Kala Kiran

464 Points Joined June 2018

Actually the shares wil get transmission after his death to his or her legal heir n not to other person... So in u r case... First complete d process of transmission n then complete the process of Transfer to another person

Sriram Santhanam

156 Points Joined July 2017

If demat account has nomination registered, then all securities available in the demat account will get transferred to nominee as registered. As for as nominee relinquishing his right, Depositories Act needs to be referred and transmission should be carried out accordingly. Depository participant where he holds the demat account should be able to guide properly on this aspect.