Is there a need for succession certificate for shares value of 2lakhs

760 votes

1. For securities held in single name with a nominee:
i. Duly signed transmission request form by the nominee.
ii. Original or Copy of death certificate duly attested by a Notary Public or by a
Gazetted Officer.
iii. Self attested copy of PAN card of the nominee. (Copy of PAN card may be
substituted with ID proof in case of residents of Sikkim after collecting address proof)
2. For securities held in single name without a nominee, following additional
documents may be sought:
a) Affidavit made on appropriate non judicial stamp paper – to the effect of
identification and claim of legal ownership to the securities
b)For value of securities upto ` 2,00,000 (Rupees Two lakh only) per issuer
company as on date of application, one or more of the following documents:
i. No objection certificate [NOC] from all legal heir(s) who do not object to
such transmission (or) copy of Family Settlement Deed duly notarized or
attested by a Gazetted Officer and executed by all the legal heirs of the
deceased holder.
ii. Indemnity made on appropriate non judicial stamp paper – indemnifying
the STA/Issuer Company.
c) For value of securities more than ` 2,00,000 (Rupees Two lakh only) per
issuer company as on date of application:
i. Succession certificate (or) Probate of will (or) Letter of Administration
(or) Court decree.

So you dont require a Succession Certificate for value of securities upto 2 lakhs.
Succession Certificate is required for value of securities more than 2 lakhs.

Advocate Sagar Sharma LawRato

715 votes

File petition for Succession certificate in a particular format under Indian Succession Act before District Court with detail of claim/properties. after proceeding, you have to pay court fee as per decree.

Advocate Asit Kumar Roy LawRato