Can a relative give indemnity bond for shares transfer
g.bharath
(Querist) 22 June 2018
This query is : Resolved
SIR CAN MY RELATIVE GIVE INDEMNITY BOND FOR SHARES TRANSFER BY LAW
OR ONLY A NON RELATIVE IS PERMITTED. THIS IS WITH RESPECT OF SHARES TRANSFER OF MY DECEASED WIFE FOR WHICH HIGH COURT SUCCESSION CERTIFICATE OBTAINED BY ME.
AKSHANSH SINGHAL
(Expert) 22 June 2018
Any person can give indemnity bond subject to his financial capabilities.Indemnity bond is just to secure the payments/money.
Kumar Doab
(Expert) 22 June 2018
Probably you are referring to equity shares…
Isn't IT !
Kumar Doab
(Expert) 22 June 2018
GO thru guidelines by regulator SEBI and relate with your matter
e.g;
Sub: Standardization and Simplification of Procedures for Transmission of Securities
Annexure -A Documentary requirement for securities held in physical mode
2. For securities held in single name without a nominee, the following additional documents may be sought: a.) Affidavit from all the legal heirs made on appropriate non judicial stamp paper – to the effect of identification and claim of legal ownership to the securities.
Provided that in case the legal heir(s)/claimant(s) is named in the succession certificate or probate of will or will or letter of administration, an affidavit from such legal heir/claimant(s) alone would be sufficient.
https://www.sebi.gov.in/sebi_data/attachdocs/1474003289481.pdf
Ms.Usha Kapoor
(Expert) 23 June 2018
A person including a relative can give indemnity bond subject to his financial capacity.
ABDUL RAZIQUE
(Expert) 23 June 2018
Nothing more to add. well described by Doab Sir.
Kumar Doab
(Expert) 23 June 2018
Thanks for agreeing Mr. Abdul Razique.
Kumar Doab
(Expert) 23 June 2018
Thanks for agreeing and posting Ms. Madhu Mittal by PM.
Kumar Doab
(Expert) 23 June 2018
Dear LCI Querist Mr. G. Bharath,
You may discuss your matter and guidelines by regulator with your very able LOCAL counsel of unshakable repute and integrity specializing in Company/civil matters and having successful track record ....and worth his/her salt....
Kumar Doab
(Expert) 24 June 2018
Thanks for agreeing Ms. Usha Kapoor..
