Father died without will

ANAND JAIN (Querist) 03 May 2017 This query is : Resolved
1. My father died without writing a WILL. He had some physical shares and a mutual fund in his name. How can the shares be transferred in my name or my mothers name ? I hv four elder sisters and none of them r interested in the shares as they r NRI. My mother stays with me.
The value of share certificate is less than 1 lakh and so going through succession certificate and all tht is not possible.

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Kumar Doab (Expert) 03 May 2017
For such amount as per policy pertaining to Min. threshold value the succession certificate may not be demanded.

If nomination exists the establishment may transfer in the name of Nominee.

Apply to establishment and submit requisite docs.

You may also GO thru SEBI rules.

Sudhir Kumar, Advocate Online

(Expert) 04 May 2017
You will need succession certificate if there is no nomination.

ADV-JEEVAN PATIL, MUMBAI (Expert) 04 May 2017
Agree with expert Doab

ANAND JAIN (Querist) 04 May 2017
In physical share certificate, there is no nomination facility and hence he didn't do it.
I hv been told by some knowledgable person tht procedures r available in such cases where neither WILL nor nomination is there and the amount involved isn't tht big.

Guest (Expert) 04 May 2017
Discuss with the company's concerned Share Transfer Agent RTA.Some times they would agree for an Affidavit and undertaking.Meet them and in every city they would have a branch.

Guest (Expert) 04 May 2017
Share transfer agent of that company try to locate on net , long back I did because now all demat .

I think they ask for affidavit , indemnity bond , death certificate then application. Form in specific format .

After that it transfer to all legal heir . After that take transfer form from them and then transfer all shares certificate to your name by taking your sister signature.

Since hardly physical shares are dealt so both steps they may allow you to do at same time first entry they will make of successor second entry of transfer

Once you get certificate back demat the certificate don't keep physical certificate it is useless paper can not be practically traded or transferred

Kumar Doab (Expert) 04 May 2017
Thanks for agreeing Mr. Jeevan Patil.

Kumar Doab (Expert) 04 May 2017
The knowledgeable person contacted by you is right.

The policy guidelines are framed by regulators e.g; SEBI.

Some parameters are left to discretion of establishment.

Check at the websites of regulator and establishment and also local office.

Relate and complete the formalities.

Submit under proper acknowledgment.

Rajendra K Goyal (Expert) 04 May 2017
Agree with the advice from expert Madhu.

Father died without will

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