login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi
|

If a shareholder who held shares in his sole name dies without leaving a will, how can his legal heir/s (either husband/wife/son/daughter, etc.) get the shares transmitted in their names?

mahindra-finance-author

by Mahindra Finance

|

July 21, 2023

|

1 mins read

The legal heirs are required to submit the certificates along with the attested copy of the Succession Certificate or Probate of Will or Letter of Administration obtained in respect of the sole holding. The transmission form duly completed (which is available on our website) and signed by the legal heir(s)/executor(s) whose signature(s) should be verified by his/their bank manager under his official seal stating his full name, designation with name and address of the bank. Attestation on the legal document should be done by a Notary Public under his official seal stating full name, address and registration no.

In case you do not have any such form of Legal Representation, please write to Karvy for further advice.

In case value of transaction is less than Rs. 2 lakh, the request for transmission of shares will be processed based on Indemnity, Affidavit and Certificate from Legal Heir. In case the value of transaction is more than Rs. 2 lakh than documents like Succession Certificate, Probate of Will etc is essential. Hence, this reply should be considered for briefing the legal & non-legal formalities of transmission of shares.

For securities held in electronic form, please contact your depository participant.

Related articles

How-Micro-Business-Loans-Differ-From-Traditional-Business-Loans

How Micro Business Loans Differ From Traditional Business Loans

Starting a business requires adequate funding, and entrepreneurs often turn to loans to meet their financial needs. Two common types of loans that cater to businesses are micro business loans and trad...

KNOW MORE

July 1, 2024

How-Does-Taking-a-Personal-Loan-Affect-Your-Credit-Score

How Does Taking A Personal Loan Affect Your Credit Score?

Introduction Taking a personal loan can be a convenient way to finance various expenses, whether it’s for higher education, wedding expenses, or unexpected emergencies. However, many people beli...

KNOW MORE

June 17, 2024

Fixed Deposit Vs Savings Account: Where Should You Invest?

Getting started: Fixed deposit vs savings account Saving money is an important step towards achieving your life goals. However, simply saving money in a regular account may not be enough, as it doesn&...

KNOW MORE

May 8, 2024