Friday, February 5, 2016

SHARE TRANSMISSION FORMALITIES – SAMPLE COPY OF SHARE TRANSMISSION APPLICATION – AFFIDAVIT – INDEMNITY BOND


SHARE TRANSMISSION FORMALITIES – SAMPLE COPY OF SHARE TRANSFER APPLICATION – AFFIDAVIT – INDEMNITY BOND
Formalities followed in some listed companies:

·        For transmission of shares firstly see value of shares if value is more than Rs. 2,00,000 then will is compulsory.

·        In absence of will. Letter of administration is required which can be available from court or Copy of Succession Certificate duly issued by a competent court.

·        If value is less than Rs. 2, 00,000, then, no aforesaid formality is required.

·        Besides that death certificate is required.

·        NOC from other siblings is required if any

 Requirements – Documents for Listed Companies, Unlisted Companies and Private LimitedCompanies

1.     Original Share certificates

2.     Death Certificate duly attested by competent authority.

                                          And

a)     Nomination serial number registered with us. (In case holder has registered the same with us).

                                                            Or

b)    Will copy duly attested by competent authority.

                                          Or

c)     Copy of Succession Certificate duly issued by a competent court

Or

                  d) Indemnity Bond and Affidavit in enclosed format.

Deed of Relinquishment to be signed by all the other Legal Heirs in favour of the applicant to be executed in Non Judicial stamp paper of Rs.20/- duly
APPLICATION FOR TRANMISSION OF SHARES

TO                                                                                                                               
              
 Company Name
Subject:-    TRANSMISSION OS SHARES    
Unit : _______________________________________________________________(CoCompany Name)
Folio Nos: - ________________                                           


Dear Sir,                                                                                             


I/We, undersigned being the Executor(s) of the will Administrator(s) of the Estate/Successor(s) to the Estate/Legal heir of Mr./Mrs./Miss _____________________________________________________________ (deceased) of which Probate/letters of Administration/Succession Certificate was dully granted to me/us on company in respect of _________ Shares in your company, now standing in the name of the said deceased in the Register of Members of your Company.
I/We, hereby agree and bind myself/ourselves to hold the said shares subject to the provisions of the Memorandum & Articles of Association of your Company.
I/We given hereunder such other particulars/information as would be required by you for your records.
Names of the shareholders as registered with the company.
                                                                                                          

Details of the share certificates enclosed


S.No.
Folio No.
Distinctive Nos
From          To
Share Certificate
No.
No of Shares
1
2
3
4
5

Total     No of certificates  ________                                    No of Shares     ______________
We request you to register the new names / address in the company record and also in the Share Certificates (s) as written below:                                                   
           
 Name(s) of Shareholders   (After getting the succession certificates)

1.               _________________________________________________________
2.                
3.               _________________________________________________________
4.                
5.               _________________________________________________________
6.               ___________

Address of the First Holder.
                          ______________________________________________________________            

Father/Husband Name of the First Holder
Signatures of the Sharesholder(s)
1.
Occupation of the First Holder
2.
3.

Date ______________                                  Place ______________

TO BE FILLED IN BY THE REGISTRAR

Inward No.
Transmission No.
New Folio No.
Date

Note : Please enclose all share certificates for the folios mentioned above.                                                                                                                                                  

 AFFIDAVIT

To,

       _____________________________________________Company Name & Address.
       _____________________________________________
                                                                       

Dear Sir,
I/We regret to inform you that Mr./Mrs. _______________________________________ who was a registered Share/Debenture holder in your Company holding _________________ Equity Share bearing distinctive Nos.(from)________________ to ____________ under Share Certificate No.________________________ died without leaving a will (Intestate)/ leaving his last will and Testament dated ________________________where of I/We am/are the only legal heirs/executors at _________________________________ on __________________________________ leaving behind the within mentioned person(s) as the only surviving legal heirs according to the Law of Instate by which he/she was governed at the time of his/her death.
I/We beg to give here below the information required by you and shall thank you to transfer the said Share bearing distinctive Nos.(from) ______________________ in favour of ________________________  without insisting on production of legal representation to the estate of the Deceased Share holder:
1.      Full Name of the Deceased Share holder and address.
2.      Share held singly/jointly.
3.      No. of Shares bearing distinctive

Nos.                                                     From                                        To
Share certificate No.

4.      Face Value of the Shares and Present Market Values.
5.      In whose custody Share Certificate are? and reason for the same.
6.      (a) Had the Deceased Share holder left any will.

(b) Has the Estate duty & discharge certificate been obtained?
(c) Has any Probate/Letter of Administration/
      Succession Certificate to the Estate of the Deceased has been obtained.
(d) Legal heirs/Executors/Administrators/Successors to the Estate of the
     Deceased.
Claimant Name                                                                                 Occupation

1) __________________________________                ______________________________________
2) __________________________________                ______________________________________
3) __________________________________                ______________________________________
7.  Documents enclosed for registration and return:
    (Please furnish originals along with one copy)

(a)    Municipal Death Certificate.
(b)   Estate duly despatch certificate.

8.      Date and place of Death.
9.      Full details of surviving legal heirs.

Husband/wife/children/parents/brothers/sisters (if Hindu Joint Family, the names and address of the Karta and Do-parcehers with their respective ages).
Full Name/Address                                  Relationship with Deceased                         Age
(1)
(2)
(3)

10.  Name(s) of the guardian of the Minor children of the share/Debenture holder.

(In case  Minor is Claimant) 


(a)    Whether natural Guardian.
(b)   Whether Guardian appointed under the Guardians and Ward Act. If so attach a certified true copy or duly attested copy of such order.
(c)    In whose custody the minor is/minors are?

11. The following persons have agreed to sign the Indemnity bond as sureties jointly and     severally with all the surviving legal heirs of the deceased Share/Debenture holder.

(1)   Name & Signature
(2)   Address
(3)   Occupation

Bank A/c No:
Banker’s Name & Address:
I/We hereby solemnly affirm that the above statements are true, that none of them or any part of them is false and that nothing has been concealed therein and that I am/we are the only executors and benefits under the said Share/Debentures/
                                                                                                                Yours faithfully,
                                                                                                                1)
                                                                                                                2)
                                                                                                               
                                                                                                               
Executed this      day of                   200                                                                                                       
NOTE: THIS AFFIDAVIT TO BE EXECUTED ON NON JUDICIAL STAMP PAPER OF RS.20/- BEFORE A NOTARY PUBLIC DATH OFFICER MAGISTRATE.

LETTER OF INDEMNITY
TO                                                                                                                               Date: ____________                   
TO
Company Name
Subject: -    TRANSMISSION OS SHARES    
Unit: _______________________________________________________________(Company Name)
Folio Nos:- ________________                                             
Dear Sir,
Registered Share holder holding _______________________________________                        Equity Share Certificate No. _______________________________ and bearing distinctive Nos. From ________________________________ To _________________________
We regret to inform you that Mr./Mrs. ___________________________________________ who was a registered Share holder holding ______________________ Equity Shares of the company bearing distinctive
Nos. ___________________________ under Share Certificate No. ___________________________________ in his/her Name(Jointly/single) died intestate without leaving a will on the _____________________ day of ____________________ 200 ____________
We further inform you that he/she left behind him/her as his/her only surviving heirs and next of kin the following persons according to the law of intestate Succession applicable to him/her by which he/she was governed at the time of his/her death.
(a)
(b)
(c)
(d)
We have to state that the said Shares/Debentures bearing distinctive Nos.From _____________ to ______________________________ were registered in the name of _____________________ We have, therefore, approached you with a request to transfer the aforesaid shares as mentioned above in the name of the undersigned Mr./Mrs./Messers._________________________________ on my/our behalf without insisting on production of legal representations and you have kindly agreed to do so on my/our executed an indemnity as is herein contained and on relying on the information herein given by us believing the same to be true.
            In consideration therefore of your having at our request to transfer Shares to the name of the undersigned ___________________________________________________                                                                 
we, the undersigned _______________________________ and ______________________________ hereby jointly and severally agree and undertake to indemnity and keep indemnified, saved, defended harmless you and your Successors and assigns for all time hereafter against all losses, costs, claims, actions, demands, risks, charges, expenses, damages etc. Whatsoever which you may suffer and or incur by reason of your, at our request, transferring the said shares as herein above mentioned to the undersigned ___________________________________ without insisting on production of legal representations.
Yours faithfully
 Legal hears
                                                                                 Sureties: 1)
(Name, Address & Signature)                                                 2)
1)                                                                                                                                                                                          3)

4)

2)                                                                                                                                                                                          5)

NOTE: THIS INDEMNITY IS TO BE EXECUTED ON NON JUDICAL STAMP PAPER OF RS 100/- BEFORE A NOTARY PUBLIC/MAGISTRATE/OATH OFFICER.
Please Ensure That:

1)    Claimant has Signed the Indemnity

2)    All sureties are mentioned

3)    Sureties mentioned are different from each other.

4)    Claimant name is written wherever  necessary

5)    Certificate Details are properly written

6)    Company Name is mentioned wherever needed.

7)    All Legal Heirs have signed wherever needed.

8)    Full Addresses/Bank Mandate wherever needed is duly filled.

1 comment:

  1. What process is to be followed for Lost or misplace of share certificate ? The value wise is Rs 100 or less?
    Simple application , with indemnity , affidavit will do?

    ReplyDelete