Urgent: Whether we need any other legal requirement ?

Dear Kalpesh,

In the above situation, it is the case of transmission of shares and not the case of transfer of shares.

• There is no any mendetory requirement under MCA21
• No require any Resolution
• Execution of transfer deed is not required.

Simply, following procedure is required for transmission of shares:

A simple application  to the company by a legal representative alongwith the following necessary evidences is sufficient:—
(i) Certified copy of death certificate;
(ii) Succession certificate;
(iii) Probate;
(iv) Specimen signature of the successor.

Since the transmission is by operation of law, neither consideration for transfer nor
stamp duty is required on instruments for transmission.

Lodge the Transmission of share application with company

Hold the Board meeting

Pass the resolution confirming the Transmission

Send the certificate to Nominees