Transmission of shares without succession certificate

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 May 2016 can transmission of shares be valid if done through indemnity in case legal representative of deceased doesnt have succession certificate?

if valid then please provide me legal guidance/source of such.

pls rpl asap

23 May 2016 Yes, Transmission of share could be valid without obtaining succession certificate. However Board of Directors should ensure that sufficient evidence has been produced by the legal heirs. Following documents shall be submitted to the Company.
Certified Copy of death Certificate
Particulars and signatures of all legal heirs
Affidavit on non judicial stamp paper certified by notary
Indeminity bond on non judicial stamp paper
PAN of legal heir.


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Querist : Anonymous

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Querist : Anonymous (Querist)
23 May 2016 Thank you
Mr. Jatin Bajaj
for your reply and solving my confusion.
and 1 more thing i want to know that provision of Articles if not provide for this matter then what should do?


23 May 2016 Follow the provision Section 56 of the Act and Rule 11 of Companies (Share Capital and Debentures) Rules, 2014.

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 May 2016 thank you mr. mandar for your reply



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