Duplicate Share Certificate cum Transmission of Shares

[monika choudhary]

Dear Members,

A Company has received request letter for duplicate share certificate cum transmission of shares from the legal heir of the deceased shareholder.

Kindly suggest whether the duplicate certificate is required to be issued in the name of the legal heir or the deceased shareholder.

Thanks & Regards

CS Monika Choudhary

[GIRISH KUMAR]

In the name of legal heir.. 

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[sheetal khandelwal]

Hi,

As per my understanding, it is duplicate share and will be issued in name of Original Holder with entry of transfer/transmission at back.

Thanks

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[monika choudhary]

Dear Sheetal,

Whether duplicate share certificate can be issued in the name of the deceased shareholder?

Thanks & Regards

CS Monika Choudhary

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[Bharadwaj Reddy]

Hi,

As can be seen from the request of the legal heir “for duplicate share certificate” it must be given duplicate copy of the original certificate.

Usually duplicate share certificates are sought by legal heirs for producing before the court or any other place for partition of the property and they may not be in a position to lay their hands on original certificate or any other legal heir is withholding it or misplaced it. 

So, the duplicate has to be a copy of original share certificate and there was no request for mutation from legal heir.

Thanks & Regards

Bharadwaj Reddy (ADVOCATE)

9966677704

B.Com, CS,LLB 

Sent from my iPhone

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[Bharadwaj Reddy]

Along with issuing the duplicate certificate the company must seek further details from the shareholder whether he is the only legal heir or are there any more. To rule out wrongful transmission of shares the company must seek 

1. an affidavit from the legal heir that he/she is the only legal heir

2. Common partition deed executed by all legal heirs

3. Court order partitioning and allocating the shares to legal heir who sought the transmission.

4. Any other document registered/ unregistered executed among the parties partitioning the properties

Thanks & Regards

Bharadwaj Reddy (ADVOCATE)

9966677704

B.Com, CS,LLB 

Sent from my iPhone

On 13-Aug-2019, at 12:47 PM, Bharadwaj Reddy <bharad...@gmail.com> wrote:

certificate.