Transmission of shares with a will, but not a probated will

Hi, My father has some shares without any nomination. These shares are in materialized form and value more than 2 lakhs. He passed away few years back and we're in the process of transmission of shares within siblings. He has left a will on a plain paper with two witness signatures, doctor certificate etc. As per the details in "Indian Succession Act, 1925", "Will" is an acceptable document, but Registrar is insisting on Probated Will. Is it mandatory to produce Probated will? Details as per "Indian Succession Act, 1925" (https://www.indiacode.nic.in/bitstream/123456789/2385/1/a1925-39.pdf) , "will" is one of the accepted document. This document has section as below: c) For value of securities more than `2,00,000 (Rupees Two lakh only) per issuer company as on the date of application: Succession certificate or probate of will or will or letter of administration or court decree, as may be applicable in terms of Indian Succession Act, 1925 Please clarify. Thanks, -Sachin