Draft Board Resolution for Transmission of Shares


Any person becoming entitled to a share in consequence of the death or insolvency of a member may, upon such evidence being produced as may from time to time properly be required by the Board and subject as hereinafter provided, elect, either

(a) to be registered himself as holder of the share; or
(b) to make such transfer of the share as the deceased or insolvent member could have made.

The Board shall, in either case, have the same right to decline or suspend registration as it would have had, if the deceased or insolvent member had transferred the share before his death or insolvency.

Draft Board Resolution for Transmission of Shares

RESOLVED THAT pursuant to the provisions of Section 56 and other applicable provisions, if any, of the Companies Act 2013, (Act) and rules made thereunder (including any statutory modification or re-enactment thereof for the time being in force) and the request for transmission of shares received along with the relevant documents , the transmission of________ equity shares of Rs. 10/- each bearing distinctive numbers from ______ to _______ having share certificate no ____ be and are hereby allowed in favour of Shri_______ and _______as the legal representatives of the deceased member Shri ____________ .

RESOLVED FURTHER THAT Mr./Ms. ______ (Name of the person) ____________ of the Company be and is hereby authorized to do all acts and take all such steps as may be necessary, proper or expedient to give effect to the aforesaid resolution.”


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