PRAKASH DUBEY (student) 24 June 2016

Death claim in physical shares

I Prakash, my dad was holding some physical shares of the company. He is no more now. The current value of shares is around 2 lakh only. When i connected the company for the transfer of the same to my name they are asking for family settlement deed. Which i don’t have with me. My questions are:- 1- If i apply for the family settlement deed is it really worth? As the value is only 2 lakh. 2- How will i apply for it, want to know the process for it and the time required to get it? 3- Is there any charges which i need to pay to the government i stay in Mumbai?

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3 Replies

Kumar Doab (FIN) 24 June 2016

Did your father record nomination?

PRAKASH DUBEY (student) 24 June 2016

No, my dad did not record the nomination.

Kumar Doab (FIN) 24 June 2016

SEBI has set threshold value for transmission of shares, without requirement of producing Probate / Letter of Administration / Succession Certificate.

In the absence of probate of the will / letters of administration / succession certificate,
indemnity bond and affidavit thereof for transmission, may have to be submitted.

You can pick up relevant points from an illustrated discussion at:

https://www.lawyersclubindia.com/experts/Transmission-of-shares-without-probate-of-will--601546.asp