A query: How can one transfer shares & Equity shares without a nominee of his/her deceased Father in Son's name? Suggest offline/online methods. Thank you in advance.
poonam khedkar 07 December 2023
A query: How can one transfer shares & Equity shares without a nominee of his/her deceased Father in Son's name? Suggest offline/online methods. Thank you in advance.
Sanskriti Tiwari 07 December 2023
In India, transferring shares without a nominee of a deceased father to the son's name involves legal processes. Offline methods often require paperwork, while online methods can expedite the process.
Offline methods typically involve submitting required documents to the company's registrar or share transfer agent, along with a transmission request, death certificate of the deceased, succession certificate, and relevant affidavits or forms.
Online methods vary based on the depository (CDSL or NSDL). The son needs to open a demat account, submit the necessary documents digitally, and follow the depository participant's (DP) instructions for share transfer.
As per Indian law, the transfer is governed by the Companies Act, 2013, and the Securities and Exchange Board of India (SEBI) guidelines. Case law such as Sundaram Finance Ltd vs Abdul Samad and Others establishes the importance of proper documentation for transmission of shares in case of a deceased shareholder.
It's advisable to consult a legal professional for accurate guidance and to ensure compliance with all legal requirements when transferring shares without a nominee.
T. Kalaiselvan, Advocate (Advocate) 08 December 2023
The son has to obtain a succession certificate from a court of law to acquire the equity shares of the deceased.
Advocate Bhartesh goyal (advocate) 08 December 2023
Yes,legal heirs of deceased father need to obtain succession certificate from competent court.
Real Soul.... (LEGAL) 08 December 2023
Only throuh Sucession certificate.,just get that