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kartikeya (lawyer/cyber law consultant/cyber crime investigator)     16 May 2009

share transfer help

my friend got 2000 shares of one company.  all shares are on his grandfather's name.His grandfather passed away 5 years before. and nominee was my friend's grandmother but she also passed away . Before 2 years my friend sent share transfer form with his signature to transfter on his name..but after some days he got the documents back with "differ in signature " mark.. now can he transfer his shares on his name??? what can b done in thiscase .. according to me succession certificate is only the way.. but as he sent it wid his own signature it will b quite difficult... any suggestion??



Learning

 5 Replies

adv. rajeev ( rajoo ) (practicing advocate)     16 May 2009

He has to file a petition P & Sc ( Probate and succession certificate).

a.manoharan (Advocate 94431 45884 advocatemanoharan@gmail.com)     18 May 2009

Dear Medam ,

File the S.O.P. by adding the concerned company as one of the parties. I hope that it only is the best remedy

Arjun Thakkar (CS)     28 May 2009

Find out who is the share transfer Agent of the company  eg- karvy/purva....

find their email id. send them an email explaining everything in depth. They will certainly guide you on this.

J Manivannan (Advocate & Consultant)     24 June 2009

PROCEEDING OF TRANSMISSION OF SHARES:

 

If a shareholder who held shares in his sole name dies without leaving a Will, his legal heirs can get the shares transmitted in their names by obtaining a Succession Certificate or Letter of Administration with respect to the shares and a true copy of the same, duly attested by the Court Officer or Notary Public, should be sent to the Company’s Registrars and Transfer Agents along with a request letter, transmission form and all the share certificates in original, for transmission in their favour.

 

However, if a shareholder who held shares in his sole name dies leaving a Will, his legal heirs can get the shares transmitted in their names by getting the Will probated by the High Court / District court of competent jurisdiction and then send a copy of the probated Will along with the relevant schedule / annexure setting out the details of the shares, the relevant share certificates in original and transmission form for transmission.

 

However, if the market value of the securities held by the deceased shareholder as on the date of application for transmission does not exceed Rs. 1,00,000/- (Rupees One lakh only), then the Registrars and Transfer Agents of the Company may, in their sole discretion, process the transmission request on the basis of the following documents:

 

-                     Transmission Form to be filled in by the Applicant

-                     Copy of the Death Certificate duly notarized

-                     Affidavit drawn up on non-judicial stamp paper of the appropriate value

-                     Form A to be filled in by the Applicant

-                     Letter of Indemnity duly executed both by the Applicant and Surety, drawn up on non-judicial stamp paper of the appropriate value

-                     Surety Form to be filled in by the Applicant

-                     No Objection Certificate from all the legal heirs (If applicable)

 


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