• Correction in succession certificate

Hello,
My father passed away during Covid 2021. Sadly, his demat account didn't have any nominee so we had to apply for succession certificate. After 1 and a half years, we finally got the succession certificate and we paid the required court fee/duty fee. 

On approaching the bank, we got to know that the certificate doesn't mention my father's Client ID (Demat Account). So transfer cannot be done until the Client Id is mentioned.

On the certificate, DP Id, my fathers name and a chart with all the stock details is mentioned, Only Client id is not mention. It was also not mentioned in the initial application submitted to court.

I am not getting any information or support from my lawyer regarding the correction. He has simply said it is not possible to add. Please advice on what should be done to rectify this.

Also, after certificate was issued, My father's Reliance Ind shares got demerged into Reliance and Jio Financial. So I have got Jio Financial services shares also. Please advice on how to get that also transferred.
Asked 2 years ago in Property Law
Religion: Hindu

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6 Answers

Section 383of indian succession act . That section deals with revocation of certificate. That section is:

"A certificate granted under this part may be revoked for any of the following causes, namely:

(a) that the proceedings to obtain the certificate were defective in substance;

(b) that the certificate was obtained fraudulently by the making of a false suggestion, or by the concealment from the Court of something material to the case;

(c) that the certificate was obtained by means of an untrue allegation of a fact essential in point of law to justify the grant thereof, though such allegation was made in ignorance or inadvertently,

(d) that the certificate has became useless and inoperative through circumstances;

(e) that a decree or order made by a competent Court in a suit or other proceeding with respect to effects comprising debt or securities specified in the certificate renders it proper that the certificate should be revoked."

2) The revocation is to be of the certificate which was granted. It is not a partial revocation. The whole certificate may be revoked if at all but not partially. Section 383 does not permit 'partial revocation'.

3) you will have to make fresh application for issue of succession certificate .

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

Since the case has been disposed you will not be permitted to file an amendment petition to amend the pleadings to enable you to add the client ID at this stage.

You may approach the concerned court and file an affidavit with the reasons and annexing the the bank's requirement as document to substantiate your claim to add the client ID in the succession certificate and issue an amended or rectified orders by the court, if the court declines to entertain your request then you may have to file a fresh petition containing all the details. 

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

You will have to file an amendment application in the disposed of petition 

Once the application is allowed,  you can amend your petition to mention the client ID and the factum of the demerged shares. The court registry will determine if any additional court fee is required to be paid due to the demerged shares forming part of your father's estate. 

I find the requirement of the bank to have the client ID mentioned in the certificate very unreasonable 

Your father's name is mentioned. So from that the client ID can be easily collated unless it's the case of the bank that there are more than one persons having the same name as your late father. The bank's or the DP's requisition/objection is hypertechnical. At the highest it could have taken an indemnity from you before releasing the shares in view of the client ID not having been mentioned on the certificate 

Yusuf Rampurawala
Advocate, Mumbai
7899 Answers
79 Consultations

Dear client,


I'm sorry to hear about the passing of your father and the challenges you're facing with the succession certificate. In India, the succession certificate is crucial for transferring assets of the deceased, including shares in a demat account. However, the absence of the Client ID on the certificate could pose a challenge in transferring those assets.

One potential approach could involve filing a petition or application with the court that issued the succession certificate to rectify or amend it by including the missing Client ID. This might involve providing explanations for the omission and demonstrating the necessity of having the ID included for the proper transfer of assets.

Regarding the demerger of Reliance Industries shares into Reliance and Jio Financial, the process for handling these shares typically involves contacting the registrar or transfer agent. Reach out to the registrar or transfer agent of Reliance Industries or Jio Financial Services. They should provide guidance on the process for transferring the shares, especially after a demerger. You'll likely need to provide documentation such as the succession certificate, proof of identity, and any additional forms or affidavits required by the transfer agent for the transfer of shares. The transfer agent should guide you through the steps to transfer the shares from your deceased father's account to your name or the designated beneficiary's name.

If you encounter any challenges during this process or need specific guidance on the paperwork or steps involved, seeking assistance from a financial advisor or someone with expertise in managing demat account transfers and inheritance-related matters could be beneficial. You can reach out to us for further assistance

Anik Miu
Advocate, Bangalore
11014 Answers
125 Consultations

- You can move an application for amendment of certificate under Section 378 of Indian Succession Act, 1925 before the same court , even the certificate is already issued. 

- The said application should be contain the details which is needed by the court and about the said demerge . 

Mohammed Shahzad
Advocate, Delhi
15814 Answers
242 Consultations

If all the other details such as DP ID, Client's name and list of securities held are correctly stated in the Succession Certificate, omission of the Client ID alone should not materially matter. The bank should accept it as it is and arrange for an honourable settlement without insisting on such trivial technicalities. They can always verify the genuineness of the claim with the data available. Demand an early settlement from the bank in writing giving them a deadline. On default, drag them before the consumer forum. Lodge a written complaint with the Banking Ombudsman too for deficiency of service.

Swaminathan Neelakantan
Advocate, Coimbatore
3070 Answers
20 Consultations

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