TRANSFER OF SHARES OF DECEASED PERSON

Others 2748 views 2 replies

GULSHAN BUDHRAJA

PARTNER

24 Points Joined November 2009

What is the procedure for transfer of Shares of Deceased person, the details are as under :

The Shares are in the name of wife, and after her death, the shares has been transferred to her husband, but there is problem in transferring Bonus Shares issued to her by the company, the company ask for Legal Heir Certificate or Probate of Will (As per Will, wife bequeath all her movable & moveable properties in the name of her husban, the Will is notarized).

All the documents such as Death Certificate Indemnity Bond, Affidavit, Noc from other members, identity proof etc. has been submitted and the matter is pending only for want of legal heir certificate.

The question is : The bonus share valued at Approx. 30000-35000 /-, what is the limit upto which legal heir certificate should not required to be submitted for transfer of physical shares of deceased person

Replies (2)

Jaideep

Service

1368 Points Joined January 2009

If will is in place, legal heir certificate is not required. your docs are sufficient.

Regards

Charu

nil

122 Points Joined December 2010

Hi,

As you say that the shares have been transfered in the name of husband of deceased. The Bonus shares should also be transfered in similar manner.

As pointed out by Jaideep, and as mentioned by you, the given documents are enough. You may submit these to the company. If the company still refuses, you can excercise your right to complaint against the company at Stock Exchange/ SEBI/ ROC, and of course can take legal course of action too.