Figyan

A resource site for beginners with easy to understand income tax, gst, and finance tutorials for mastering the basics and beyond.

You are here: Home / Tips / AFFIDAVIT FOR TRANSMISSION OF SHARES

AFFIDAVIT FOR TRANSMISSION OF SHARES

Last modified on by

Please fill up the details as applicable in the relevant sections of this Affidavit. It should be executed by the person(s) who are applying for transmission, individually.

This Declaration is to be executed on Non- Judicial Stamp Paper and should be duly attested by Notary. This Declaration has to be executed by the legal heirs by providing self-attested copy of PAN card as identity proof.

Specimen -1

FORMAT OF AFFIDAVIT FOR TRANSMISSION OF SHARES IN THE NAME OF THE APPLICANT(S)

I/We, ________________________________, wife/son/daughter of ___________________________, aged about___ years, resident of_________________________________________________________, do solemnly affirm and declare as follows:

  1. That _______________ equity shares bearing distinctive nos. from ______________ to _____________, of the face value of Rs. ____/- each, are registered in the name of Shri/Smt _____________________________, in the books of the company _____________________________________.
  2. That Shri/Smt ______________________________ died on _______________ at ________________________.
  3. That the following are the only heirs of the late Shri/Smt __________________________ i. Shri/Smt ____________________ aged ____ residing at _________________________________________ ii. Shri/Smt ____________________ aged ____ residing at _________________________________________ iii. Shri/Smt ____________________ aged ____ residing at _________________________________________
  4. That the late Shri/Smt ___________________________ has not sold, transferred, pledged or otherwise disposed off the said shares.
  5. That the said shares were the separate and self-acquired property of the late Shri/Smt ________________.
  6. That under the Hindu Succession Act, 1956, the person(s) mentioned in clause 3 are entitled to inherit the aforesaid shares severally/jointly.
  7. That the late Shri/Smt ________________________ has left no other heir other than those mentioned in clause 3 above and that the person(s) mentioned is/are his/her only heirs.
  8. That I/We therefore request the company ______________________________ to transmit the aforesaid shares and register them in my/our name(s) in the books of the company without production of Succession Certificate/Probate or Letter of Administration.

SIGNATURE OF DEPONENTS

VERIFICATION

We, the above mentioned persons verify that the statements contained in the above paragraphs are true to the best of our knowledge and believe that nothing material has been concealed.

Place:

Date:

SIGNATURE OF DEPONENTS

Specimen – 2

Affidavit by Legal Heirs of Deceased Shareholder for Transmission of Shares

I, ABC aged about …… years, residing at ……………. do solemnly affirm and declare as follows:

  1. That 1000 Equity shares in XYZ Ltd, bearing distinctive no. from 1001 to 2000 of the face value of Rs. 10 each are registered in the name of Shri PQR in the books of the Company.
  2. That Shri PQR died intestate on 31st December, 2019 at his residence in Chennai, TamilNadu.
  3. That under the Hindu Succession Act, 1956 Smt. ABC aged 45 years residing at …………….. is the only legal heir of Late Shri PQR.
  4. That Late Shri PQR has not sold, transferred, pledged or otherwise disposed of the said shares.
  5. That the said shares were the separate and self acquired property of Late Shri PQR.
  6. That Late Shri PQR has left no other heir than person mentioned in para 3.
  7. That I therefore request the Company to transmit the aforesaid shares and register them in my name in the books of the Company without production of succession certificate or letter of administration.

Date:

Signature of the Deponent

Before me

Signature and seal of Notary Public/Magistrate

Specimen – 3

Affidavit for transmission of shares without producing probate / succession certificate / letters of administration

I, ………………………………..son/daughter/spouse of …………………………….. aged about …………., residing at ……………………………., do hereby solemnly affirm and declare as under:

  1. That Late Mr./Ms./Dr. (Name of the Deceased Shareholder), the deceased, was holding (No. of Shares) equity shares in (Name of the Company) of the following description:
Folio No.Certificate Nos.Distinctive Nos.Shares covered in each certificate
    
    
  • That Late Mr./Ms./Dr. (Name of the Deceased Shareholder), expired intestate on (Date of Expiry) at (Place of Death) leaving behind him/her the following heirs:
Sr. No.Name & Address of the Legal Heir(s)AgeRelation with the Deceased Shareholder(s)
    
    
  • That the abovementioned shares were the separate and self acquired property of the deceased. According to the law of Intestate Succession applicable to him/her by which he/she was governed at the time of his/ her death, the person(s) mentioned hereinabove is/are the only heir(s) of the deceased. They are entitled to inherit solely/jointly the aforesaid shares covered under the above Folio No(s). held by the deceased.
  • That Late Mr./Ms./Dr. (Name of the Deceased Shareholder), has left no other heir(s) than those mentioned in paragraph 3 above and the person(s) mentioned therein is/are only his/her legal heir(s).
  • That I/We have already executed an Indemnity Bond for transmitting the aforesaid shares held by the deceased in my/our name.

I/We therefore request the (Name of the Company) to transmit the shares in my/our name in the books of the Company without production of the Succession Certificate/Probate of the Will/Letters of Administration.

I am executing this declaration to be submitted to the concerned authorities of the Company.

I hereby state that whatever is stated herein above are true to the best of my knowledge and belief.

Solemnly affirmed at (Place)

On this (Date) day of (Month) (Year)

Signature of the Applicant(s)

DEPONENT

Identified by me

Advocate

Before Me

S.E.M/Oaths Commissioner/Notary Public