Legal Question in Investment Law in India
My father has passed away on 1995. He has 300 shares of face value=10 per share in STFC. How to transfer his physical shares in my Mom or my demat account. FYI: market value per share ranges 625 to 675.
Place: Chennai/Coimbatore - Tamilnadu-India
3 Answers from Attorneys
Check whether he was sole holder or joint holder. If joint holder, who was the 2nd owner of shares with him.
Check whether your father had mentioned the name of some nominee.
The joint owner or nominee needs to give an application (alongwith your father's death certificate) to the Company (or Share Registrar of the company, if any) to transfer the shares to his/her name.
If the case is not covered under above, then you/your mother will have to apply to court for grant of succession certificate in respect of assets of your father. On the basis of this certificate, you can write to the company to transfer the shares in your / your mother name.
In this you are expected to have a succession certificate get your fathers shares to be transfer in your name or any other legal heirs name. Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.
Get a succession certificate from the court to get the requisite transfer. Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.
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