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No Objection Certificate for Transmission of Shares NOC format

If some of the legal heirs are claiming title on the shares of the deceased shareholder by applying for transmission of shares to the company.

no objection certificate for transmission of shares
Then they will have to submit certain documents. One of such documents is no objection certificate from all other legal heirs who are relinquishing their rights on the said shares.

Such NOC should be executed by each legal heir separately. The NOC should be sworn and affirmed before a Notary Public or attested by a Gazetted Officer.

If any of the legal heirs is illiterate, then his thumb impression on the NOC must be attested under office seal by a Magistrate or Notary Public.

Here is a template of no objection certificate from other legal heirs for transmission of shares.

SAMPLE

Date: ...............

To
(Name of the Company)
(Registered Office Address)

Dear Sirs, 

I, (Name of the Legal Heir), son/daughter/spouse of (Name of the Father/Husband) aged ... years, presently residing at (complete residential address), do hereby solemnly affirm and declare as under:

1. That (Name of the Deceased Shareholder), the deceased, was holding .... shares of .............. Limited, as per description given hereunder:

Folio No. | Share Certificate No. | Distinctive No. | No. of Shares
............... | .................................. | ........................ | ......................
............... | .................................. | ........................ | ......................

2. That the aforementioned shares were the separate and self acquired property of the deceased and the below named persons are entitled to inherit the same jointly:

Name of the Legal Heir | Age | Relation with the Deceased
...................................... | ....... | ............................................
...................................... | ....... | ............................................
...................................... | ....... | ............................................

3. That I am one of the legal heirs of the deceased shareholder and that I am the (relation) of the deceased.

4. That I do not desire to make any claim of title on the aforementioned shares held by the deceased.

5. That I hereby agree to renounce all my rights existing as well as those that may accrue to me in the future in respect of the aforementioned shares.

6. That I declare that I have no objection whatsoever in transmission of the aforementioned shares in the name(s) of the applicant(s) i.e. .........................

7. That this act of mine is binding on myself, my legal heir(s), nominee(s), executor(s) or successor(s) or administrator(s) and legal representative(s).

I solemnly affirm and state that the information mentioned herein-above is true and correct to the best of my knowledge and belief and nothing material has been concealed therefrom.

Solemnly declared and affirmed at

................................................
on identification at ....am / pm
before me.
Deponent
Name: .................................
Signature: ...........................
..................................................................
(Signature and Seal of the Notary with date)

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