Succession certificate
Dinesh Kumar
(Querist) 24 December 2009
This query is : Resolved
My father expired last year without leaving a WILL. He left behind my mother, 3 sisters (all married) and myself (married). He held shares in demat form of NSDL and had nominated my mother as his nominee. However this nomination was made in 1999 and hence there was no photograph of the nomineee was given as that was not sought at that point of time.
Since the beginning of Nov'09 I am told that NSDL has cancelled all nominations which have been done without photograph and the Depository Participants (DP) are seeking fresh nominations from the holders. Since my father has deceased the DP is insisting on a Succession certificate. My sisters & I have no problems in the shares being transmitted to our mother and we are ready to give indemnity bonds to satisfy the DP & NSDL. The market value of shares is about Rs.10.0Lacs
Pl advice whether succession certificate is mandatory? if Yes, how do i obtain the same? the procedure, cost & time. My mother & I are residents of Chennai. My father too was a resident of Chennai.
Arvind Singh Chauhan
(Expert) 24 December 2009
You will have to apply for succession certificate in civil court. Consult with a lawyer he will calculate the court fee and other expenditure. I think if other heir file no objection and matter remain uncontested. It would take short time.
adv. rajeev ( rajoo )
(Expert) 24 December 2009
You have to obtain succession certificate from the court. File Probate and succession certificate case. In karnataka while filing we pay Rs.25 initial court fee and after the decree court fee will be calculated on the amount first Rs.1000/- will be exempt and afterwards3%of the balance amount non judiciary stamps we will produce to the court, succession certificate will issued on that non juidicial stamp papers.
contact your lawyer for further details
Dinesh Kumar
(Querist) 24 December 2009
Thank you Mr.Arvind & Mr.Rajeev.
So obtaining succession certificate is a must. Will a legal heir certificate that we possess (issued by Revenue dept.) not suffice?
Sould the succession certificate be obtained from Chennai High Court?
Raj Kumar Makkad
(Expert) 25 December 2009
First try to move an application supported with affidavits of you all with indemnity bond of you and your sisters in your mother's favor and if become fail only then approach to civil court because it shall require more than Rs. 30,000/- to seek such certificate as in my state rate of advolerum court fee is 3%.
