Pankaj kaushik 15 November 2017

Successor certificate

My father died in 2013.He has demat A/c in which shares amount above 6 lakh. This A/c has no nominee. My mother and we two brothers are legal heir. Now what we should do. Can we make successor certificate in my name. My layer said if successor certificate make in one name then other two submit no objection certificate through separate layer. My question is how many advocates we hire and how much stamp duty paid because shares value not fix any time. We are living in Faridabad (Haryana).

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SHREY DAMBHARE 15 November 2017

If all are agree for sharing thier part then engage one lawyer only. He will prepare for Succession Certificate. Your advocate is corret if other hiers gave thier no objection then you will get succession certificate. It is better you ask Stamp Duty from court registry they will inform you exact amount.

Kumar Doab (FIN) 16 November 2017

Go thru guidelines by regulators on simplified procedure e.g;

https://www.msei.in/SX-Content/Company-Circulars/2016/September/SEBI-15-Sep-2016-STANDARDIZATION-AND-SIMPLIFICATION-OF-PROCEDURES-FOR-TRANSMISSION-OF-SECURITIES.pdf

https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListing=yes&sid=1&ssid=7&smid=0

https://nsdl.co.in/services/trans.php

Kumar Doab (FIN) 16 November 2017

The guidelines might be available on the website of establishment/company also.

e.g;Q.4(B)

https://www.kotaksecurities.com/faqs/FAQs-For-Transmission.pdf

Kumar Doab (FIN) 16 November 2017

Check the requirements of agent from agent and ask to supply in writing, alongwith guidelines by regulator.

Kumar Doab (FIN) 16 November 2017

Successor Certificate; Probably you wanted to mention Succession Certificate..

GO hru:

THE INDIAN SUCCESSION ACT, 1925

PART X

SUCCESSION CERTIFICATES

371,372,373

https://districtcourtsnamchi.nic.in/laws/indian_succession_act_1925.pdf

Kumar Doab (FIN) 16 November 2017

You may also go thru the guidelines at website of jurisdictional high court;

e.g;

CHAPTER 6

Ch. 6

Probate, Administration and Succession Certificates

Part B

SUCCESSION CERTIFICATES

https://delhihighcourt.nic.in/writereaddata/upload/CourtRules/CourtRuleFile_5V1ZJF9S.PDF

Kumar Doab (FIN) 16 November 2017

Approach a very able senior LOCAL counsel specializing in such/civil/consumer matters of unshakable repute and integrity, and having successful track record.

The detail of legal heirs is to be given for certificate.

The successors are per personal law that applies e.g; Hindu…

In case of Hindu man; ClassI legal heirs have 1st and equal right i.e. Mother (if alive as on date of death), Wife (if alive as on date of death), sons, daughters…………..

The legal heirs can relinquish their rights in favor of any other one.