Transfer of shares

Querist : Anonymous (Querist) 16 April 2018 This query is : Resolved
what happens to the shares when a shareholder dies and there is no nominee or legal heir?

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Ms.Usha Kapoor (Expert) 16 April 2018
By virtue of law of Es-cheat if shares are left behind by a deceased shareholder without appointing a nominee or without legal heirs State would take the shares. This is called escheat.

Guest (Expert) 16 April 2018
Please discuss the real problem instead of asking an academic query.

Kumar Doab (Expert) 17 April 2018
Probably you are referring to equity shares ………..
The regulator has issued proper guidelines and legal heirs get the shares as per value of shares and per guidelines by regulator..
The guidelines are available on website of regulator and similar query is discussed at LCI in many threads that have illustration and citations…
YOU can search in search option

Kumar Doab (Expert) 17 April 2018
Pls post with your ID and you can get many replies.
Your ID does not mean your email id or phone number and don’t post these also.
Post which personal law applies in case of deceased.

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