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??
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: