Step-by-Step Guide to the Infosys Share Transmission Process

Step-by-Step Guide to the Infosys Share Transmission Process

The transmission of shares refers to the process of ownership transfer of a share. It is critical but ensures a seamless transfer which occurs when the original share is no longer held by the original shareholder. When a shareholder dies, the share is automatically transmitted to their legal heirs. However, it’s not an easy task, it requires a few legal requirements.

You need to understand the legal requirements to ensure a seamless transmission. It includes recognising the involvement of probate, wills, and succession certificates. If a shareholder no longer holds the share certificate of Infosys, his/her legal heirs can claim the shares. All they need to do is to fulfil the legal requirements.

In this blog, you’ll acknowledge the step-by-step guide for Infosys share transmission. Apart from that, you may understand the need for all the documents for the transmission of shares procedure.

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    After that, you can enjoy a seamless experience while Infosys shares transmission.     

    Understanding Share Transmission

    The transmission of shares means the transfer of securities which occurs during various legal circumstances. It includes the following reasons:

    • Demise of a shareholder
    • Insolvency or bankruptcy
    • Shareholder’s mental incapacity, etc.

    In general, shares can be transferred to the nominee, legal heirs, and successors. It is applicable as per the guidelines of the company and applicable laws.

    Share transmission is important as it includes the rightful transfer of securities or ownership. The transmission protects the financial interest of the deceased shareholder’s family or their legal heirs. At the same time, it also ensures a safeguard against capital loss.

    Companies Act, 2013 regulates the transmission of securities procedure in India. Central depositories, like NSDL (National Securities Depository Limited) and CDSL (Central Depository Service Limited), have also established a few rules. They regulate the shared transmission process as well. Public or private companies, such as Infosys have a few specific guidelines for holding or managing transmission requests.

    When is Share Transmission Required?

    The transmission of shares occurs due to various reasons. Each time it occurs it’s regulated by the company, central depositories, and Companies Act. It protects the financial assets and capital. Here are the following reasons why share transmission is required:

    • Death of a Shareholder: When a shareholder dies, the company must assign a new shareholder for the ownership. It ensures that the share has a registered owner. In addition, the investment process can be continued with the share.
    • Bankruptcy: When the shareholder goes bankrupt, he/she becomes incapable of holding the ownership. In this case, the company needs rightful ownership of its shares.
    • Inheritance: If a shareholder dies, their share automatically transfers to the nominee’s account. In other cases, it can be transferred to his/her successor. All they need is to provide a succession certificate and fulfil the legal requirements. Then, the share can be transmitted due to inheritance.

    The Share Transmission Procedure

    Step 1: Notify the Company

    If a shareholder dies without any nominee, the legal heirs need to inform the company. For instance, if the deceased shareholder had an Infosys share, the legal heirs need to inform the company about the demise of the original shareholder.

    Not only the respective company but the legal heirs should also inform the depository participant (DP) which can be a financial institution or brokerage firm. The DP may assist you in further transmission of the shares procedure.

    Step 2: Gather Required Documentation

    After you inform the company and DP about the share transmission, you need to gather a few necessary documents. It’s essential for the transmission process. Without relevant documents, share transmission is impossible. Here is the list of documents:

    • The death certificate of a deceased shareholder or its’ copy.
    • Original share certificates.
    • Succession certificate or probate of will.
    • NOC (No objection certificate) from other heirs (if applicable).
    • Orders of the court or competent authority (if applicable).
    • Proof of identity.
    • Proof of address.
    • PAN card (must be attested).

    Step 3: Submit Application for Transmission

    After gathering the necessary documents, submit them to the company with the help of DP. Apart from the necessary documents, submit a transmission request form (T3) to the company.

    After that, acknowledge or fulfil the KYC requirements.

    Step 4: Verification by the Company

    After receiving all the necessary documents, the company will verify your information. It may generally take up to 30 days. In complex cases, it can take up to more.

    Step 5: Transfer of Shares

    After verification, the shares will automatically be transmitted to the legal heirs’ account. Now, the legal heirs can continue to make investments with the shares. In addition, they can enjoy the ownership of the share.  

    Common Challenges in Share Transmission

    The transmission of securities isn’t an easy task. It may include several legal mandatory requirements. At the same time, external problems may arise which are as follows:

    Lack of Nomination: If the original shareholder doesn’t include any nominee’s name it creates more dispute during transmission.

    Incomplete Documentation: Sometimes the legal heirs don’t fulfil the legal requirements properly. It creates more delays during transmission.

    Dispute Among Heirs: In certain cases, disputes can arise between the legal heirs. This situation further delays the process or makes it more complex.

    Legal Approval Delays: Sometimes the court takes more time for the verdict which delays the share transmission procedure.

    Tips for Smooth Share Transmission

    Everyone wants the share transmission process to be seamless. Here are the tips for an easy transmission process:

    Keep Your Records Updated: Try to check and update your records regularly to avoid disruptions in the transmission process.

    Consult Experts: Try to consult with experts who can guide you perfectly through the transmission of shares process.

    Create a Will: Create a will for your beneficiaries to avoid any sort of delay.

    Respond Quickly: Respond timely and provide necessary documents to the company.

    If you want a hassle-free situation for the transmission process, try to contact an expert consultant, like Infiny Solutions.

    In Summary 

    The transmission of shares occurs when a shareholder dies or goes bankrupt. As per the company law and legal guidelines, the share is automatically transferred to the nominee or legal heirs. However, the share transmission process is not easy. For Infosys share transmission, you need to contact the company. After that, follow the basic legal requirements. After that, the Infosys share is automatically transmitted to the legal heir’s account.

    In this blog, you’ve acknowledged the step-by-step guide for Infosys share transmission. Apart from that, you’ve also understood the need for all the documents for the transmission of shares procedure.

    For a seamless transmission of the shared process contact expert consultants, like Infiny Solutions. They can stand out as one of the reliable partners in the overall process.

    You can contact us at 90279 00537 or email us at info@infinysolutions.com

    RECOVER YOUR LOST WEALTH

    Helping you liquidate your lost shares, unclaimed investments and dividends

    UNLOCK YOUR WEALTH

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