{"id":1679,"date":"2021-10-19T05:37:57","date_gmt":"2021-10-19T05:37:57","guid":{"rendered":"https:\/\/rvkassociates.com\/blog\/?p=1679"},"modified":"2021-10-19T05:38:35","modified_gmt":"2021-10-19T05:38:35","slug":"transmission-of-securities-to-joint-holders","status":"publish","type":"post","link":"https:\/\/rvks.in\/blogs\/transmission-of-securities-to-joint-holders\/","title":{"rendered":"Transmission of Securities to joint Holder(s)"},"content":{"rendered":"

October 18, 2021<\/span><\/span><\/p>\n

To<\/span>,
\n<\/span> <\/span>
All Listed Companies<\/span> (t<\/span>hrough Stock Exchanges<\/span>)<\/span> <\/span>
All<\/span> registered<\/span> Registrars to an Issue & Share Transfer Agents (RTA<\/span>s<\/span>)<\/span><\/span><\/p>\n

Dear Sir<\/span> \/ Madam,<\/span><\/span><\/p>\n

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

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

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

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

 <\/p>\n

Yours faithfully<\/span> <\/span>
<\/span>
Dinesh Joshi<\/span> <\/span>
Deputy General Manager<\/span> <\/span>
Market Intermediaries Regulation and Supervision Department<\/span><\/span><\/p>\n

For full detail click the link below :<\/strong><\/p>\n

https:\/\/drive.google.com\/file\/d\/1Z6m_wWUfg2jdv1hoYztdI9ZWsuUne3zQ\/view?usp=sharing<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

October 18, 2021 To, All Listed Companies (through Stock Exchanges) All registered Registrars to an Issue & Share Transfer Agents (RTAs) Dear Sir \/ Madam, 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 […]<\/p>\n","protected":false},"author":2,"featured_media":1518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,85],"tags":[88],"class_list":["post-1679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-circulars","category-sebi","tag-sebi"],"_links":{"self":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/comments?post=1679"}],"version-history":[{"count":2,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1679\/revisions"}],"predecessor-version":[{"id":1681,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1679\/revisions\/1681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media\/1518"}],"wp:attachment":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media?parent=1679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/categories?post=1679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/tags?post=1679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}