CA RAMAN Seth 26 November 2023
Is it necessary to probate a registered will, in the case of a claim for Transmission of Mutual Funds on the basis of a Registered Will bequeathed by deceased brother in Chandigarh.?. Nomination is missing in this case. Case refers to Chandigarh area?.
T. Kalaiselvan, Advocate (Advocate) 26 November 2023
If there is no nomination made in the mutual funds then upon the death of the mutual fund shareholder, you may have to follow the rules as stipulated by the ompany concerned.
Probate of Will is not mandatory other than three cities of India, namely Bombay, Calcutta and Madras.
Dr. J C Vashista (Advocate ) 27 November 2023
It is not compulsory to get the will probated in Chandigarh untill there is objection from any LR of testator.
Mutual fund cannot be without a proper nomination, recheck records.
CA RAMAN Seth 02 January 2024
Dr. J.C.Vashishta
please share the law/section/notification mentioning that probate will is not compulsory in Chandigarh UT. It is necessary since the MF co. restricts itself with only AMFI guidelines. Regards CA. Raman Seth Chandigarh
Member Strength 9,49,039 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
