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Bank asking for NOC for no nomination account
01-May-2023 (In Documentation Law)
My mother is no more and she did not even make any nominations for her shares which are worth 200000/=. The authorities are asking for a Succession certificate or Letter of Administration for the transferring the shares. I am the only daughter and my father is alive and is ready to give a NOC or Indemnity bond etc.
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I would like to know what is more practical, Letter of Administration or Succession Certificate? How much time would it take
Both NOC and Succession Certificate are same. However, in your case, you can apply for a succession certificate.
As regards costs and time, it will depend on the place where you are located and where your mother expired. The fee structure depends on the lawyer you engage.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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