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Madhu Mittal (Director)     10 July 2016

Transmission of shares without probate of will

Respected Sirs,

As desired by the person who could not written in Expert column, I am requresting other members also to guide me in this matter, querty at expert column :https://www.lawyersclubindia.com/experts/Transmission-of-shares-without-probate-of-will--601546.asp

Thanks for taking interest in my problem

With Regards, 



Learning

 11 Replies

Kumar Doab (FIN)     11 July 2016

You can inquire at Jaipur.

LCI Expert Mr. J.K.Agrawal is from Jaipur.

If you wish,you can get in touch for guidance.

Kumar Doab (FIN)     11 July 2016

The query is posted at:

 

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

 

binay (advocate)     11 July 2016

Madhu Mittal this is waste of time. Your previous query is just adviced properly. I am thankful to all experts participate in the query. In jaipur there are many experts and specialist. Please consult a lawyer.

Madhu Mittal (Director)     10 September 2016

Respected Sirs,

Transmitted shares have been got today Without Probate of Will.

Thanks a lot for the persons who started this forum.

 Thanks a lot for all the Learned members of this forum in general and Mr Kumar Doab in special who cited the citation of Mrs. Pushpa Vadera vs Thomas Cook (India) Ltd. on 28 April, 1995 and encouraged me a lot, who took interest in my thread by giving their valuable time and knowledge.

Thanks again with respect. I hope cooperation in future also be given by the learned persons of this forum.

Kumar Doab (FIN)     10 September 2016

Delighted to note this and that you have succeeded.



You may post the details.


You may attach the communique sent by you and reply recived by you confirming 'Transmitted shares have been got today Without Probate of Will.'

 

 

This shall help many readers.

Madhu Mittal (Director)     19 September 2016

Respected Sir,

Sorry, for delay due to some unavoidable circumstances. I have written them Karvy consultants as well as Kotak Mahindra bank all the citations, quoted by you, as well as me and other lawyers at different thread at https://www.lawyersclubindia.com/experts/Transmission-of-shares-without-probate-of-will--601546.asp with the request that  I will prefer going in ligitation againt you, rather to getting the Will probabted as it is not required by law. so please avoid litigation and get my share transmitted without Probate.If not done all the expenses as well as damages caused to me due to not transmission will be borne by you.

Thanks with Regards.

Kumar Doab (FIN)     19 September 2016

Pls post the reply of the agent and bank.

Madhu Mittal (Director)     20 September 2016

Respected Sirs,
Bank never responded directly to me, the agent Karvy vide its letter dated 02.09.2016 while sending certificates duly transmitted, wrote like this, “enclosed please find the following share/debenture certificate(s) duly transferred in your name(s)”

Kumar Doab (FIN)     20 September 2016

Obviously Bank agreed and asked agent to write to you.
 

 

Madhu Mittal (Director)     26 October 2016

Respected Sirs,

https://www.dokmart.com/articles/transmission-of-securities

I came to know today itself that SEBI vide its circular no.

 SEBI/HO/MIRSD3/CIR/P/2016/0000000085 DATED September 15 , 2016 has changed its guidelines according to law of land i.e now without Probate of Will, only on the basis of Will, securities can be transmitted as follows:

Annexure -A

Documentary requirement for securities held in physical mode

1. For securities held in single name with a nominee: …

2. For securities held in single name without a nominee, the following additional documents may be sought: ….

c) For value of securities more than `2,00,000 (Rupees Two lakh only) per issuer company as on the date of application:

Succession certificate or probate of will or will or letter of administration or court decree, as may be applicable in terms of Indian Succession Act, 1925.

Again Thanks a lot for the persons who started this forum.

Thanks a lot for all the Learned members of this forum in general and Mr Kumar Doab in special who cited the citations and encouraged me a lot, who took interest in my thread by giving their valuable time and knowledge.

Thanks again with respect. I hope cooperation in future also be given by the learned persons of this forum.

Kumar Doab (FIN)     26 October 2016

Thanks for posting.

I exerted and could support you.

I am delighted with your success.

It is indeed more satisfying to note that the success that was fetched in your case has been incorporated by SEBI in rules, and now it shall fetch relief for fellow countrymen.

 


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