Shares


 

Hello,

 

I am Narender. My father was the managing director of a pharmaceutical manufacturing company which he & 3 other people have started in 1995 in RR Dist, Hyderabad. They recruited a director in 2002 in requirement of funds / someone who was willing to invest. Now he has invested alot & grown beyond that no other partner's can stand against.

Untill now, the shares have not been demat converted, they were just the papers. 

In May 2010, my father has expired & after that when i contacted the director for any share or money against the shares, he refused to give me anything but instead said that my father, when alive has agreed to give him all his shares, which we don't know anything nor he has got any proof of my father saying him that. 

Now that all the shares are being dematted, the company has hired a consultancy for dematting all the promoters shares.

As my father have expired, my mother would be the legal heir. My father had a wife & a son(Unmarried). In her name all the shares must be transferred.

Is there any way that the other director can stop the transfer & forceably take away the shares?

 

I shall be really grateful for any advice on this.

 

Thanks in advance

Narender Reddy

 
Reply   
 
practicing advocate

Issune notice to the Co., not to transfer shares of deceased in any others name.  You can also file an injunction to restrain the co., by transferring the shares in any others name.


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Yes Adv. Rajeev is right,

Immediately issue a "legal Notice" to the said co., status qua not to transfer the deceased share, or u can also file an injunction before the competant court of law.


Total likes : 1 times

 
Reply   
 

Thank you for your advices.

The shares are with us at the moment. They need to be taken to that consultants at the end of this month to transfer them under the name of my mother.

Is a legal heir certificate required for such transfer or simply a death certificate would do? for them to transfer those into my mother's name.

 
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