Transmission of shares

Deepi Saini (Querist) 07 August 2015 This query is : Resolved
Legal Heirs are British Nationals of Indian Origin. Both parents dead. They have shares in demat and physical formats. Total market valuation of shares are over 50 lacs. There is no nomination of Legal Heirs mentioned in Demat and Physical formats.

What all documents are required for transmission in name of legal heirs? Since legal heirs are foreign nationals, succession certificate/probate of will be applicable for them or not.

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Guest (Expert) 07 August 2015
Dear Deepi,

Can you please clarify, as a manager of some company, how you are concerned with the problem of the British Nationals of Indian Origin?

Secondly, if the value of stocks is over 50 lakhs, can't the British Nationals of Indian Origin pay a paltary sum as consultancy fee of any expert, while the process is somewhat complex and tricky? Seeking free advice in such a case is not understood!