NCLT Bengaluru allows petition by Kirloskar Electric Co. Executives and Other Officers Welfare Trust seeking transmission of shares held in deceased trustee's demat account.
Tribunal directs CDSL and Bank of India Share Holding to transfer 17,005 shares from old account linked to trustee's PAN to new trust account.
Legal heirs of deceased trustee filed affidavits confirming shares belong solely to trust and they have no claim over them.
Bank of India Share Holding admitted clerical error in linking trustee's PAN instead of trust PAN when opening demat account.