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

Debt-avalanche-What-Is-It-&-How-to-Use-It

Debt Avalanche? What Is It & How To Use It?

Introduction Managing debts can be overwhelming, especially when faced with multiple loans and high interest rates. If you are tired of making minimum payments that barely make a dent in your principa...

KNOW MORE

July 1, 2024

How To Get A Personal Loan With A Low CIBIL Score?

Having a low CIBIL score can make it challenging to obtain a personal loan. A low credit score indicates that you may have had some difficulties in the past with financial management. Lenders are ofte...

KNOW MORE

February 5, 2024

What Happens if You Break Your FD: FD Breaking Charges

Fixed deposits (FDs) are a popular investment option in India due to their security and attractive returns. However, there may be instances where you need to break your FD before its maturity date. In...

KNOW MORE

February 29, 2024