Death of director. and transfer of his share to rest directors

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shantanu ojha (Querist)
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07 December 2015 sir i have a company with three director father and two sons, now father have died, so which form should i file for intimation of death of the director and alloting his share to rest directors equally.

Pratik Shah

Pratik Shah (Expert)
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07 December 2015 You need to file Form DIR-12 for cessation of Directorship. Please mention the reason as 'Death' in the form.

You can not transfer the shares of Deceased person unless you comply with the provisions of section 56 and corresponding rules (transmission).

You can not simply transfer shares to other directors equally. The shares of deceased person shall go to his legal representative /heirs.