There's a company X. It got merged with a company Y. Now the person who was a shareholder in X has to get replica no. of shares in Y. Now the company comes to know that the shareholder is dead. Is there any legal provision which talks about such condition. The deceased person hasn't left any will or something. The allotment is necessary. Also, if we send a legal notice and there's a family dispute, what are we supposed to do? Also, in case the legal heir comes after 10 years to claim the shares after settling family disputes, what should be done?
the legal heirs are unknown and there has been no such adress that could be used for sending a legal notice for allotment of shares. the nominee wants to transfer those shares in name of the deceased only.
the situation is problematic and a bit wierd.but pls provide some suggestion.
you can also file an interpleader suit prayibg therein that the rightful heir be declared as real allotee of the shares and in default the state as allotee by escheat , such a suit should be filed in the representative form through public notice