Share Claimers: Easy Shares Transmission Procedure for Smooth Transfers

1. Transmission Transmission of of Shares: Shares: Understanding Understanding the the Shares Shares Transmission Transmission Procedure Procedure In the corporate world, ownership of shares may change due to various reasons, including inheritance, death of a shareholder, or succession. This process is known as the transmission of shares. Unlike the transfer of shares, which involves a voluntary sale or gifting of shares, shares transmission procedure occurs automatically due to legal reasons, without the involvement of a sale. What is Transmission of Shares? Transmission of shares refers to the legal process by which the ownership of shares is passed on to a legal heir, nominee, or successor in the event of the death, insolvency, or incapacity of the shareholder. The transmission process does not involve a monetary transaction, unlike a share transfer, and is governed by company laws and regulations. Shares Transmission Procedure The shares transmission procedure involves the following key steps: Notifying the Company: The legal heir or nominee must inform the company about the shareholder’s demise or incapacity. This is usually done by submitting a formal application along with necessary documents. Submission of Documents: The following documents are generally required for share transmission: 1. Death certificate (in case of death of the shareholder) 2. Succession certificate or probate of the will (if applicable)

2. 3. PAN card and identity proof of the legal heir/nominee 4. Share certificate (if in physical form) 5. Any additional documents requested by the company Verification by the Company: The company’s board of directors will review the documents to ensure they meet all legal requirements. Approval and Registration: Once the documents are verified, the company registers the shares in the name of the legal heir or nominee and updates its records accordingly. Issuance of New Share Certificate: If the shares were in physical form, a new share certificate is issued in the name of the successor. If in dematerialized form, the shares are transferred to the nominee’s demat account. Difference Between Transfer and Transmission of Shares While transfer of shares is a voluntary act by the shareholder to sell or gift shares, transmission of shares is an automatic process that occurs due to unforeseen circumstances like death or insolvency. Unlike a share transfer, transmission does not require a transfer deed and is usually exempt from stamp duty. Conclusion At Share Claimers, we assist individuals in navigating the complexities of shares transmission procedure and ensuring a smooth transition of ownership. Whether it’s legal documentation or liaising with companies, our experts make the process hassle-free. If you require assistance with transmission of shares or transfer of shares, feel free to reach out to us. Visit us : https://shareclaimers.com/