My Elder brother got expired on 25-May-2011.He is left with his wife and 2 daughters(one of them is married).
We were two brothers. Our parents are not alive.
Elder bro has demat account having shares of worth around 10 lac. He has nominated me as nominee in his account.
Who will be the legal heir??
Who will be the owner of this account myself(nominee) or legal heir??
I have given the request for trasferred of his shares in my demate account with required documents in Aug 2011. I have come to know all shares were sole on 15-July-2011.
Demate company told that we sold on the request of broker. Broker is saying that he did this on the request of my brothers widow but i asked why u did this he is not giving any valid response and denying to help me.
As far as i know it is illegal. Demat company told that amount had been transfeered into bank account of my bro.
In bank account i m the nominee but bank person told that u have no rights as legal heirs have such rights even if bank person is not giving me account statement.
What i can do in this case. Please advice me