Transmission of shares

The services offered for the transmission of shares typically involve assisting stakeholders in navigating the process of transferring shares due to the death or insolvency of a shareholder. Here’s an overview of the services typically provided:

1. Documentation Preparation: Assistance in preparing all necessary documentation required for the transmission of shares, including:

   • Drafting and executing transmission forms or applications as per the company’s requirements.
   • Preparation of legal documents such as affidavits, succession certificates, probate (if applicable), and indemnity bonds.

2. Legal and Regulatory Compliance: Ensuring compliance with all applicable laws, regulations, and company policies governing the transmission of shares, including:

   • Verification of eligibility and documentation requirements for transmission due to death or insolvency.
   • Compliance with provisions of the Companies Act, Securities and Exchange Board of India (SEBI) regulations, and other relevant statutes.

3. Due Diligence and Verification: Conducting due diligence to verify the authenticity of documents related to the deceased or insolvent shareholder, ensuring proper execution of transmission forms.

4. Coordination with Stakeholders: Facilitating communication and coordination between legal heirs, executors, administrators, or official assignees (in case of insolvency) to ensure smooth transmission of shares.

5. Board and Shareholder Approvals: Assisting in obtaining necessary approvals from the board of directors and shareholders (if required), ensuring adherence to corporate governance norms and regulatory requirements.

6. Transfer Agent Services: Acting as a transfer agent to facilitate the transmission process, including maintaining records, updating shareholder registers, and issuing new share certificates or updating electronic records.

7. Tax Advisory: Providing tax advisory services related to capital gains tax implications on the transmission of shares and ensuring compliance with tax reporting requirements.

8. Dispute Resolution: Assisting in resolving disputes related to the transmission of shares, including mediation or legal proceedings if necessary, to protect the interests of stakeholders.

9. Post-Transmission Support: Providing support post-transmission, including updating corporate records, notifying regulatory authorities (if required), and ensuring complete documentation for audit and compliance purposes.

10. Advisory Services: Offering advisory support on ongoing compliance with transmission requirements, updates on regulatory changes, and best practices in estate planning and succession.

• Documentation Preparation: We prepare all required documents such as transmission request forms, legal affidavits, probate or succession certificates, indemnity bonds, and any other necessary paperwork as per company and regulatory requirements.
• Legal and Regulatory Compliance: We ensure strict adherence to laws and regulations governing share transmission, verifying eligibility criteria and documentation specifics depending on whether it's due to death or insolvency, including compliance with Companies Act and SEBI regulations.
• Coordination with Stakeholders: We facilitate seamless communication and coordination between legal heirs, executors, administrators, or official assignees to streamline the transmission process and ensure all parties are informed and involved.
• Board and Shareholder Approvals: We assist in obtaining essential approvals from the board of directors and shareholders where necessary, ensuring compliance with corporate governance norms and regulatory guidelines.
• Transfer Agent Services: Acting as transfer agents, we maintain accurate records, update shareholder registers, issue new share certificates or update electronic records, and manage administrative tasks related to the transmission of shares.
• Tax Advisory: We provide expert advice on capital gains tax implications arising from share transmission, ensuring compliance with tax laws and assisting in proper reporting and documentation.

When facilitating the transmission of shares due to the death or insolvency of a shareholder, several documents are typically required to comply with legal and regulatory requirements. Here’s a list of the key documents needed:

1. Transmission Request Form: A transmission request form or application form as prescribed by the company, duly filled and signed by the legal heirs, executors, administrators, or official assignees, depending on the circumstances of transmission.

2. Original Share Certificate: The original share certificate(s) representing the shares being transmitted. In the case of dematerialized shares, a statement from the depository participant (DP) confirming the transmission is required.

3. Death Certificate or Insolvency Order:

   • Death Certificate: In case of transmission due to death, a copy of the death certificate of the deceased shareholder.
   • Insolvency Order: In case of transmission due to insolvency, a copy of the court order or official assignment document.

4. Probate or Succession Certificate (if applicable): A probate of will or succession certificate issued by a competent court, if the deceased shareholder has left a will or in cases where a succession certificate is required by law.

5. Legal Heirship Certificate or Affidavit: A legal heirship certificate issued by a competent authority or an affidavit of succession, identifying all legal heirs of the deceased shareholder and their respective shares in the estate.

6. Indemnity Bond: An indemnity bond executed by the legal heirs, executors, administrators, or official assignees in favor of the company, indemnifying the company against any losses arising from the transmission of shares.

7. Board Resolution: A board resolution of the company acknowledging the transmission request and approving the registration of the transmission in the company's records.

8. Identity and Address Proofs: Identity proof (such as PAN card, Aadhaar card, passport, or driver's license) and address proof (such as utility bill or bank statement) of the legal heirs, executors, administrators, or official assignees.

9. Share Transfer Deed (if applicable): A share transfer deed, if required by the company's Articles of Association or share transfer policies, duly filled and signed by the legal heirs or representatives.

10. Other Relevant Documents: Any other documents as required by the company, regulatory authorities, or as specified in the Articles of Association pertaining to the transmission of shares.