Manipur HC: State Establishments Must Record Transgender Person’s New Name & Gender in Documents  ||  Delhi HC: Failure to Frame Counter Claim Despite Pleadings is Patently Illegal  ||  Mumbai Commission Holds Reliance Retail Liable for Defective AC Replacement Failure  ||  SC Orders ASI to Supervise Repair of Mehrauli’s Ancient Dargahs  ||  SC Reprimands Bihar IPS Officer for Affidavit Supporting Murder Convict  ||  SC Rejects Review Plea on WB SSC Jobs, Upholds Quashing of 25k Appointments  ||  SC Rejects Review Plea on WB SSC Jobs, Upholds Quashing of 25k Appointments  ||  Supreme Court Orders Haridwar Collector Inquiry into Maa Chandi Devi Trust  ||  SC Recommends Statutory Appeal Against DJ’s Compensation Orders  ||  SC Dismisses Petition Challenging 2024 Maharashtra Assembly Elections Over Bogus Voting    

Transmission of securities to joint holder(s)- (Securities and Exchange Board of India) (18 Oct 2021)

MANU/SSMD/0043/2021

Capital Market

1. The norms pertaining to transmission of securities to joint holders(s) are provided in clause 23 of Table F in schedule 1 read with section 56(2) & 56(4)(c) of the Companies Act 2013.

2. It has been observed in some cases that due to counterclaim / dispute from the legal representative of one of the deceased holder, the RTAs have not effected transmission to the surviving joint holder(s).

3. In this regard, RTAs are hereby advised to comply with the aforesaid provisions of the Companies Act 2013 and transmit securities in favour of surviving Joint holder(s), in the event of demise of one or more joint holder(s), provided that there is nothing contrary to the same in the Article of Association of the company.

4. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market read with Regulation 101 of SEBI (Listing Obligations and Disclosure Requirements), 2015.

Tags : TRANSMISSION   SECURITIES   JOINT HOLDER(S)  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved