TRANSMISSION OF SHARES

[rekha soni]

HELLO FRDS

 

anybody has checklist for transmission of shares on death of the shareholder

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Thanks and Regards

---------------------------------

CS REKHA SONI

Rekha Soni & Associates

Company Secretaries

Block C-1880, Ansal Palam Vihar,

Gurgaon 122017

M. No. 9911789098

Landline:0124-4077139

email id: rekh...@rediffmail.com

URL: csrekhasoni.com

[CS A Rengarajan]

please check the following ( this is only gives an idea)

Checklist for Transmission of Shares

The following is the procedural checklist for transmission of shares
which will help professionals like lawyers, company secretaries,
chartered accountants while dealing with the issue.

A- In case the Shares are held in joint names and any one of the
holders have expired, the surviving holder(s) would be required to
send Company / RTA the following documents for transmission of the
Shares.

1. A letter requesting deletion of name of the deceased shareholder.

2. Copy of Death Certificate of the deceased shareholder(s) duly
attested by Gazetted Officer or Notary Public.

3. Share Certificate(s).

4. Duly filled up Transmission Form.

B- In case the Shares are held in sole name and the shareholder has
expired, the legal heir(s) would be required to send to Company / RTA
the following documents:

1. A letter requesting transmission of Shares in favour of the
legal heir(s).

2. Copy of Death Certificate of the deceased shareholder(s) duly
attested by Gazetted Officer or Notary Public.

3. Court certified copy of Succession Certificate or Letters of
Administration or Probate of Will.

4. Share Certificate(s).

5. Transmission form duly filled in under Current specimen
signature(s) of the legal heir(s).

C- In all cases involving requests for transmission, a Succession
Certificate or Letters of Administration or Probate of Will from the
legal heir(s) are required to be submitted to Company / RTA. In
exceptional cases, if it is not possible to furnish a Succession
Certificate or Letters of Administration or Probate of Will, the
following additional documents will have to be submitted:

1. Affidavit affirming the name(s) of legal heir(s) and expiry of
the shareholder.

2. Indemnity agreeing to indemnify the Company against any future
claims that may be made on the Company as a consequence to such
transmission of Shares.

3. Deed of relinquishment, duly signed by all Legal hair(s)

4. Bank Guarantee in favour of the Company for the market value
of the Shares (if the company requires the same)



regards

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CS A RENGARAJAN,, B.Com ,FCS, LLB, PGDBM
Company Secretary, Chennai
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[pooja joshi]

where would the transmission forms be available in case of unlisted
public Co.?

[CS A Rengarajan]

There is no forms and legal heirs has to apply for transmission of
shares.alongwith necessary documents

regards