A Company cannot refuse `Transmission of Shares’, once the ...

Share Transmission Mandated for Heirs with Probate or Succession Certificate; Legal Proof Required for Will-Based Transfers.

January 19, 2024

Case Laws Companies Law AT

A Company cannot refuse `Transmission of Shares’, once the `legal heirs’ proves his/her entitlement to them, through a `Probate’, a `Succession Certificate’. It is to be pointed out that `transfer’ is an act of parties or law by which the title to the party is conveyed from one person to another. This would lapse by `Operation of Law’ or `Succession’. `Transmission of Shares’ on the basis of `will’ can raise complicated issues which require an `evidence’, to be read by the parties and need to be determined by a Court of Law. - AT

View Source

← Previous Next →

A Company cannot refuse `Transmission of Shares’, once the ...

Share Transmission Mandated for Heirs with Probate or Succession Certificate; Legal Proof Required for Will-Based Transfers.

January 19, 2024

Case Laws Companies Law AT

You may also like:

Refusal of Transmission of shares - Transfer of title in accordance of Will of the deceased, in favor of Daughter - The intimation u/s 56 of the Companies Act was merely...

Direction to Respondent's Company to issue a share certificate - transfer of interest on the basis of will - since the will is executed outside the original territorial...

CESTAT held tax proceedings against a deceased sole proprietor cannot continue against legal heirs. Following SC precedent in Shabina Abraham, tax demands expire with...

Assessment proceedings against one of the legal heirs - deceased/assessee had admittedly more than one legal representatives - Despite the legal heir's explicit...

Cancellation of Registration Certificate - legal heirs - deemed dealer on the death of dealer - When it is an admitted fact that the petitioner is a legal heir of the...

Oppression and mismanagement case - Transfer of 2500 shares by deceased challenged by appellant claiming legal heirs entitled to shares or fair price. Held: Appellant's...

SEBI issued a circular revising and revamping nomination facilities for demat accounts and mutual fund folios. Key points: Reiteration of Existing Norms: - Rule of...

The HC ruled that amendments to Section 39 of the Insurance Act, 1938, particularly subsections (7) and (8), do not override succession laws. Despite language suggesting...

Dishonour of Cheque - legal heir of deceased - substitution of the opposite party (deceased complainant) - It is the case of the petitioner that the opposite party is...

Capital Gains - Disallowance of sum paid for the share certificate of the property - This share certificate has no independent value in its self. This share certificate...

The ITAT, an Appellate Tribunal, addressed an appeal filed in the name of a deceased person without proper mention of the legal heir. The appeal was dismissed due to the...

The ITAT Raipur held that an order passed in the name of a deceased assessee was invalid as legal heirs failed to disclose the death. Deduction u/s. 54F was denied as...

Assessment in the name of the deceased assessee - liability of legal heir - After the death of the assessee, his legal heir was not brought on the record and no notice...

Filing of e-return by Legal Heir (LH) using DSC: Revised Process.

Capital gain - sale of property by the legal heir with the co-owners - the assessee (as legal heir of the said property) is liable to capital gains tax during the year...

Quick Updates: