Section 19(5) in Companies (Share Capital and Debentures) Rules, 2014
(5)In the event of death of the holder of securities or where the securities are held by more than one person jointly, in the event of death of all the joint holders, the person nominated as the nominee may upon the production of such evidence as may be required by the Board, elect, either-(a)to register himself as holder of the securities; or(b)to transfer the securities, as the deceased holder could have done.
