Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

PRAKASH DUBEY (student)     12 November 2016

Physical share transfer

Dear Sir/Madam,

                       I have some physical shares in my mom and dad names, both are no more they both died 10 years back. we are two brothers and two sisters in our family. i want all the shares to me transfered in my name. how can i transfer the same in my name. As the value of the share is more, what documents should i need to be made As i dont have any legal documents made by my dad and mom side



Learning

 28 Replies

Ms.Usha Kapoor (CEO)     13 November 2016

You transfer  your  other brother and sisters share in the share transfer certificates to you. You need to obtain relinquishment deed from your sisters and  the other brother that they are relinquishing or releasing all  their right,title and  interest in those physicla shares in your favour and they don't have any interest in that property or physcal shares.Then after producing your parents death  cetificate and Legal heir certificate you can get the physical shares  transfered in you name.If  you appreciate this answer please click the thanks buton on this foum.

Dr J C Vashista (Advocate)     13 November 2016

File a succession suit.

PRAKASH DUBEY (student)     13 November 2016

i had connected the company in this matter and they told me to get probate or succession certificate or letter of administration from the honourable court as the value of share is more. but my question is how can i get this documents as both my parents are no more and they died 10 years back?  how much time and money do in need for the papers?

Kumar Doab (FIN)     13 November 2016

Did your parents noimnate in shares, leave a WILL?

PRAKASH DUBEY (student)     13 November 2016

No noimation in shares, a  WILL is there but its not regeister or probated

Kumar Doab (FIN)     13 November 2016

Are you in presidential towns; Kolkota,Mumbai,Chennai?

It is mandatorty to probate the WILL in presidential towns.

 

Kumar Doab (FIN)     13 November 2016

It is believed that the deceasaed owners, you are Hindu.

Confirm.

Kumar Doab (FIN)     13 November 2016

Similar query has been resolved in another thread.

You may pick up relevant points:

 

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

P. Venu (Advocate)     13 November 2016

Yes, you need to obtain the succession certificate and follow up.


(Guest)

If the value is more than no option except filling Succession Suit under provision of Indian Succession Act

You have to pay court fee as per your state court fee act 

If you start today process will take min. 5 - 6 months 
--------------------------------------------------------------------------------------------------------
1) When you get succession certificate attach and sent it to registrar and transfer share agent of the company. 

2) They will insert name of all successor behind share certificate as mentioned in Succession certificate  , tell them to insert name in same order in all certificates

3) Open Share Demat account

4) Dematerialize all certificate by filing concern form 

5) Once all shares are dematerialised it will be reflected in Demat account 

6) Open another Demat Account , and with signature of all concern transfer to specific demat account as per all your mutual understanding.

7) Matter is closed .

------------------------------------------------------------------------------------------------------------------------

First get help of local advocate to get succession certificate

Second get help of sub-broker of stock exchange he will do that demat work happily . 

Third and most imp. thing this physical shares conversion to demat started long back , so search in house if any other physical shares remaining do it in one go only such old obsolete things no one knows latter how to do and they became lot complicated . In my opinion you are atleast 20 years behind schedule for demat 



 

 


(Guest)

Even from this year all Insurance policy are moving towards demat mode

Kumar Doab (FIN)     13 November 2016

The WILL exists.

The WILL is not probated.

Similar query has been resolved in another thread.

You may pick up relevant points:

 

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

 

PRAKASH DUBEY (student)     13 November 2016

thanks for the reply, i have some more questions.1- Is Succession Suit and Succession certifiacte same or differant documents? 2- My parents died 10 yers back, is there any time frame in which a paeson needs to appile for the document to court? 3 - i stay in mumbai so how much would be the cout fees appox?

Kumar Doab (FIN)     13 November 2016

The WILL exists.

The WILL is not probated.

In Mumbai it is mandatory to probate the WILL.

Why succession certificate is required, while the WILL exists?

Has the WILL been declared invalid?

 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register