An application has been made for transfer of shares of a company based in Mumbai by a sole heir and has been asked to obtain a Letter of Administration under Section 228 of ISA. The heir's father's Will has been probated by High Court of Justice in London. The heir lives in London and I have been granted a Power of Attorney in Anand, Gujarat to deal with the heir's assets in India which comprise of shares and bank accounts. I have already sorted out bank accounts and transfer of shares of one of the three companies involved here in India. Shall appreciate if you would kindly advise course of action and to which competent court do I need to apply - Gujarat or Mumbai. Thank you.
Can a holder of Power of Attorney apply on behalf of heir/administrator appointed in the Will/Probate for Letter of Administration in an Indian court?
None
You have to approach the Company Law Tribunal for transition of shares of the company.
The CLT is to be chosen on the basis of territorial jurisdiction of the company .
Since the company is based in Mumbai the application is to be filed in CLT in Mumbai Bench.
POA can apply for letters of administration in Bombay high court on behalf of the legal heir
2) letters of administration dies not take more than 6 months
You have stated that deceased left a will and it has been probated in London
2) whether shares have been included in the list of assets mentioned in testamentary petition?
3) where did the death of deceased take place ?
4) if deceased died in Bombay or has assets in Bombay then letters of administration can be applied fir in Bombay
When a will has been proved and deposited in a court of competent jurisdiction situated beyond the limits of the [State] whether within or beyond the limits of [India] and properly by authentication copy of the will is produced, Letters of Administration may be granted with a photo copy of the probate of the will.
The power of attorney deed may be registered anywhere in India but for the purpose of letter of administration it can be filed before the court having territorial jurisdiction.
Can a holder of Power of Attorney apply on behalf of heir/administrator appointed in the Will/Probate for Letter of Administration in an Indian court?
This POA deed should specifically authorise the power agent to perform this task on behalf of the principal/executor and the same should be adjudicated by a Sub-registrar in India