transfer of share after death of main share holder
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 July 2011
my mother had some SBI shares on her name with nominee as my father. After her death my father wants to transfer them to his Demat account. he has sent many application to the SBI but nothing has happened. these shares are with my father in physical form. till last year he was receiving interest on them but it has stopped now.Can u please guide with the procedure.
04 August 2011
Dear
Investor information centers have been set up in every recognized stock exchange which take up all complaints regarding the trades effected in the exchanged and the relevant member of the exchange.
Following two important center are always available to the investors to seek redressed of their complaint
1- Complaints with consumers disputes redressed forum
2- Suits in the court of law
Regarding transfer of securities necessary provision are available in section 111,111, and 123 of companies act 1956. As regards listed companies the listing agreement contain provision for prompt issue of certificates after affecting transfer
If failure to comply with the provision of companies act can be brought before the company law board through an appeal under section 111,111A . After hearing parties company law board may by order direct the company to register the transfer
As regards violation of provisions in the listing agreement, investors can forward their complaints to the stock exchanges with whom the company is listed to initiate action
The investors are also at liberty to file complaints the District Forum , state or national commission established under section 9 of consumer protection act
In your case SBI is listed company and listed companies investors are entitled to forward their complaints to the company and SEBI and the latter takes up the matter with the companies
SEBI has the power to take action including criminal proceeding where necessary against person responsible for delay
One more way if any investor has any grievance he can just log on to :www.investorhelpline.in or Wright complaint direct to OMBUDSMAN which have powers for redressed of grievance and implementation of awards
Investor information centers have been set up in every recognized stock exchange which take up all complaints regarding the trades effected in the exchanged and the relevant member of the exchange.
Following two important center are always available to the investors to seek redressed of their complaint
1- Complaints with consumers disputes redressed forum
2- Suits in the court of law
Regarding transfer of securities necessary provision are available in section 111,111, and 123 of companies act 1956. As regards listed companies the listing agreement contain provision for prompt issue of certificates after affecting transfer
If failure to comply with the provision of companies act can be brought before the company law board through an appeal under section 111,111A . After hearing parties company law board may by order direct the company to register the transfer
As regards violation of provisions in the listing agreement, investors can forward their complaints to the stock exchanges with whom the company is listed to initiate action
The investors are also at liberty to file complaints the District Forum , state or national commission established under section 9 of consumer protection act
In your case SBI is listed company and listed companies investors are entitled to forward their complaints to the company and SEBI and the latter takes up the matter with the companies
SEBI has the power to take action including criminal proceeding where necessary against person responsible for delay
One more way if any investor has any grievance he can just log on to :www.investorhelpline.in or Wright complaint direct to OMBUDSMAN which have powers for redressed of grievance and implementation of awards
04 August 2011
under security contract (regulation ) Act -1956 if any organization attempts to contravene or abates the contravention of the provision of the Act or any rules or regulation or bylaws - imprisonment for a term which may extend to 10 years or with fine which may extend to Rs 25 Cr or both - section 23A TO 23H
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Payment of bonus act - notice pay recovery
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
