People generally use the terms transfer and transmission interchangeably. Although, both the terms have different meaning and concept. The term Transfer of share is used when the person willingly transfers the title to another person while the term transmission of shares is used when transfer occurs due to death or insolvency or by operation of law. The capital of a company is divided into shares. Each share forms a unit of ownership of a company and is offered for sale so as to raise capital for the company. Shares can be broadly divided into two categories – equity and preference shares Trademark Registration Services in India.
Ebizfiling is one of the best & professional online portals to help clients comply with Share Transfer & Transmission procedures in India.What is the procedure to add the name of another person as a joint-holder?
Addition of name is deemed to be transfer of shares. In such cases, the procedure laid for transfer of shares as stated above is required to be followed.
What is the stamp duty on shares? Where do I get these stamps?
The stamp duty applicable on share transfer is at 0.25% on the market value on the date of execution of the transfer deed. Share Transfer Stamps can be obtained from the authorised stamp vendors. Your sharebroker can also help you in this regard.
How do I ensure that the Transfer Deed is complete before sending it to the company?
Please fill in all the columns of the transfer deed, sign as transferee at appropriate places and affix share transfer stamps at 0.25% of the market value on the date of execution of the transfer deed.
Please ensure that the transfer deed is duly filled in and executed as explained, to avoid any discrepancy/objection on lodgement.
I want to add another joint-holder name to my shareholding. What is the procedure that I should follow?
You have to execute a transfer deed, duly stamped and submit the same to our R & T Agent for transfer. Please note that such addition of name amounts to change in ownership of shares and the procedure for transfer has to be followed.
If a shareholder who held shares in his sole name dies without leaving a will How can his legal heirs either husbandwifesondaughter etc. get the shares transmitted in their names?
Firstly the legal heirs have to obtain a Succession Certificate or Letter of Administration with respect to the shares and a true copy of the same, duly attested by the Court Officer, or Notary should be sent to our office along with a request letter along with all the share certificates in original, for transmission in their favour.
If the deceased family member who held shares in hisher own name single had left a will how do the legal heirs get the shares transmitted in their names?
The legal heirs will have to get the will probated by the Court of competent jurisdiction and then send a copy of the probated will, along with relevant schedule/annexure setting out the details of the shares, the relevant share certificates in original and transmission form for transmission.
In case of joint holdings in the event of death of one shareholder how do the surviving shareholder get the shares in histheir names?
The surviving shareholder(s) will have to submit a request letter supported by a notarized copy of the death certificate of the deceased shareholder and the relevant share certificates to our office. On receipt of the said documents, we will delete the name of deceased shareholder contained in its records and return the share certificates to the applicant /registered holder with necessary endorsement.