Madhav (first holder) jointly held equity shares with his son sridhar (second holder). After the death of Madhav the shares were trasferred to the name of Sridhar by the company. Sridhar's elder brother Ram complained to the company. But they refused to entertain his complaint and told him that they have the right to do so. Why the law of inheritance in equity shares is different from landed property where the descendants inherits the shares of joint property held in the name of the deceased.
One lawyer says the joint holder is entitled to the shares of the deceased. But another lawyer says the descendants of the joint holder are entitled to get the shares of the deceased. Who is correct?
