PROCEDURE TO APPLY FOR SUCCESSION CERTIFICATE AND MOST OF SHARES ARE LOST

Situation : PROCEDURE TO APPLY FOR SUCCESSION CERTIFICATE AND MOST OF SHARES ARE LOST. KINDLY PORVIDE ME THE COMPLETE PROCEDURE SO THAT I CAN APPLY FOR SUCCESSION
Related Topics : Civil Litigation
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Advocate Justice Kishan Dutt Kalaskar

Bangalore 
For More Details Contact On +91 7769012300.
A:

Dear Sir,

If you have lost or misplaced your share certificates of any listed company, you need to immediately inform the respective company—of which you had the shares. You also need to quote the folio number and details of share certificates to the company for their reference. When a company receives an intimation that you have lost the shares, the folio number or the details provided to the company are frozen—in lieu of the lost one. This is done by the company to prevent any fraud or transfer of shares. 

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Section 372 in The Indian Succession Act, 1925

372 Application for certificate. —(1) Application for such a certificate shall be made to the District Judge by a petition signed and verified by or on behalf of the applicant in the manner prescribed by the Code of Civil Procedure, 1908 (5 of 1908) for the signing and verification of a plaint by or on behalf of a plaintiff, and setting forth the following particulars, namely:—

(a) the time of the death of the deceased;

(b) the ordinary residence of the deceased at the time of his death and, if such residence was not within the local limits of the jurisdiction of the Judge to whom the application is made, then the property of the deceased within those limits;

(c) the family or other near relatives of the deceased and their respective residences;

(d) the right in which the petitioner claims;

(e) the absence of any impediment under section 370 or under any other provision of this Act or any other enactment, to the grant of the certificate or to the validity thereof if it were granted; and

(f) the debts and securities in respect of which the certificate is applied for.

(2) If the petition contains any averment which the person verifying it knows or believes to be false, or does not believe to be true, that person shall be deemed to have committed an offence under section 198 of the Indian Penal Code, 1860 (45 of 1860).

56 [(3) Application for such a certificate may be made in respect of any debt or debts due to the deceased creditor or in respect of portions thereof.]

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