Case of the expired Succession Certificate Holder

  • Original shareholder was a government servant. He invested most of his surplus savings in shares of various companies. He expired in the year 1998, leaving behind his wife and her mother, he also had a sister.
  • The wife and a mother obtained the Succession Certificate jointly.
  • They were unable to execute the succession certificate and transfer their names for nearly two decades, since the name of wife is very in-consistent in various records. Name in the Succession Certificate, Pan and Aadhar, School Leaving Certificate, Legal Heir Certificate differed to smaller or greater extent.
  • Meanwhile the mother died and this had created more complications.
  • By the time they came to us new IEPF role was effective and some shares have slipped to IEPF.
  • We have taken up the case and converted 50% of each of the shares, since the balance 50% belongs to the mother who expired.
  • The only Legal Heir of the mother has gone abroad and other portion of the shares will be processed as once she returns.
  • We were able to achieve this by providing an affidavit claiming the wife to be one of the same person regardless of what the documents say and providing the affidavit in front of magistrate.

Meanwhile we have approached the Gazette to identify the name, as the name variable in Pan and Aadhar and the balance documentation is in progress.