The Procedure after the petition has been submitted to the district judge of the high court :
Step 1: The Petition is submitted along with court fees. The Court Fees Act, 1870, prescribes a specific percentage of the value of the estate. This is to be paid in the form of judicial stamp papers. The fee varies from State to State , in India.
Step 2: The Judge will inspect the application. And make it public by issuing a notice in the national newspapers. And send a notice to all the respondents. The notice calls for objections, if any, to issue a succession certificate. It generally provides a period of 45 days to protest, with necessary documentary proofs. After 45 days are over, he will fix a date for the hearing.
Step 3: At the date of the hearing, the judge will decide if the applicant is within his right to apply. If satisfied, he shall grant the certificate. The certificate would specify the debts and securities set forth in the application. It will mention the powers granted to receive interest/dividend or to negotiate/transfer/both.
Step 4: The Judge may also require the applicant to sign an Indemnity Bond to secure the entitled persons. This Bond may also require a surety or some other security. That’ll ensure no possible loss arises out of the use or misuse of such certificate.
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