Transmission of shares arises in case of death of the registered shareholder. For transmission of shares, the documents given in Annexure I
should be submitted.
If the shares are held in joint names, the deceased shareholder’s name only is deleted. A copy of the death certificate of the deceased registered shareholder, duly attested by competent authorities (magistrate, notary, public, gazette officer, managers of nationalized banks or officials of Tourism Finance Corporation of India Ltd.) is to be sent to Registrar / Tourism Finance Corporation of India Ltd. alongwith the share certificate.
In case of single shareholder, the shares will be transmitted in favour of those persons who are heirs of the deceased registered shareholder as per the will executed by him.
In case the deceased shareholder had not left any will, transmission of the shares will be effected only on production of succession certificate or letters of administration.