Tribunal grants transmission of shares, directs transfer within 2 weeks. Challenge to Succession Certificate validity referred to appropriate forum.

The Tribunal granted the petition for transmission of shares to the respondent based on the Succession Certificate obtained. The company was directed to transfer the shares and pay arrear dividends within two weeks. The appellant's challenge to the Succession Certificate's validity, stayed by the High Court, was not entertained by the Tribunal, which allowed the appellant to contest the certificate's validity in the appropriate forum. The appeal was disposed of without costs.

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Issues:
Petition for transmission of shares under Sections 58 and 59 of the Companies Act, 2013; Validity of Succession Certificate; Stay of Succession Certificate by the High Court.

Analysis:
The respondent filed a petition seeking transmission of shares owned by her late husband, which was granted by the Tribunal due to the Succession Certificate obtained by the respondent. The Tribunal directed the company to treat the respondent as the legal heir of her deceased husband and transfer the shares to her within two weeks. The company was also directed to pay any arrear dividends. The appellant challenged the Succession Certificate's validity, stating it was stayed by the High Court after the Tribunal's order. However, the Tribunal declined to interfere with its previous order, granting liberty to the appellant to challenge the Succession Certificate's validity in the appropriate forum. The appeal was disposed of without costs.

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