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Death of one of shareholder out of two

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(Querist)
20 January 2012 Sir
There is one private limited company having two shareholders. Out of these two shareholder, one is just dead and now what procedure should be followed so that existence of company remains. Can his legal heir become new shareholder with effect from the date of his demise. What procedure is to be followed with respect to ROC
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
21 January 2012 Just transmit the shares into the name of legal hairs of the deised shareholder or second holder, if any.

Nothing to inform to ROC. The detailed list of shareholdes is to be submitted to the ROC along with Annual Return only.
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dhiraj sarda

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dhiraj sarda (Querist)
21 January 2012 thanks ankurji,

he is also director of the company so i think it is necessary to inform roc by filing form 32 regarding the appointment of new director.
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Jiten Gupta

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Jiten Gupta (Expert)
24 January 2012 Yes, If he is also a Director of Company then File E-Form 32 for cessation of Deceased Director and appointment of New Director.
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