Right to transfer of shares
HARIKRISHNAA T
(Querist) 29 April 2017
This query is : Resolved
Sir/Madam,
My client (woman-that time she is minor) father was died in 1970.Her father purchased primary shares in reputed company in 1960's. My client had two brothers and one elder sister. Eleder sister was died in 2015.Two brothers are not co-operate and not accept to given a share of my client.
My client asking to company (1) what is the procedure of 1/4 shares of total shares to my client account? (Family /Death /share certificates information are not given her two brothers to my client)
Sir, please give right/correct information to my client obtain for her share amount.
Dr J C Vashista
(Expert) 30 April 2017
Why the share(s) have not been transferred to his nominee/LRs since 1970 (when the shareholder died) ? What has the daughter been doing for the last 47 years or after attaining her majority?
When did she (your client) came to know about the shares owned by her deceased father? Whether she has informed the company qua transfer of share (of her share) in her name?
Which type of share(s) i.e., equity, preferential, debenture etc. are involved?
Did she apply for LR certificate and/or obtained succession certificate?
Seek professional consultancy from a practicing Company Secretary before moving for succession certificate and/or any other legal recourse.
Rajendra K Goyal
(Expert) 30 April 2017
Company may not agree to transfer shares or divide these among legal heirs till requested by all legal heirs and all related documents submitted.
She may try for court orders for the same.
Kumar Doab
(Expert) 30 April 2017
If she has asked the company in writing then company might have supplied some reply.
