Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Sumit Phadnis (Lawyer)     02 January 2009

Ownership of Shares???

Hello,

The case is something like this:

Husband & Wife were holding shares of X company as joint holders. First name was of Husband and second of his wife. Husband made a WILL (under the influence of his Lawyer) and bequethed his property including his shares of X company to the  Trsut "A" (an association registered under Trust Act) where his lawyer was a Trustee. Now, that trust is claiming that they are only the owners of shares X as the WILL specifically mentioned it.

Wife is claiming for the ownership of shares because she had second name appearing on share certificate.

I would like to know who will have the claim over such shares. Please guide.

Sumit Phadnis.



Learning

 5 Replies

Manish Singh (Advocate)     02 January 2009

both have claim over the sahres jointly in the proportion agreed between tthe spouse at the time of purchase. if no agreed share, both will get equal shares.

Anil Agrawal (Retired)     04 January 2009

 Is the husband dead? If so, wife can't do a thing.

Anil Agrawal (Retired)     04 January 2009

 If the husband is dead, wife can't do a thing. Only half she will get.

RAKHI BUDHIRAJA ADVOCATE (LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA)     07 January 2009

Mr, Agrawal is absolutely right


 

suman (trainee)     29 December 2009

hi every one i want information regarding - if indian company issue shares to foreign company other than cash what form to be filed with the RBI


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register