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Transmission of securities

Written By Admin on Tuesday, 12 November 2013 | Tuesday, November 12, 2013

Shared by : Rajesh Mistry
Author : Genicon Legal Strings Team


SEBI has notified simplified procedures for transmission of securities vide SEBI Notification No CIR/MIRSD/10/2013 dated October 28, 2013. Simplified nomination procedure shall be applicable under the following circumstances;

Mode of holding
Threshold limit / conditions
Simplified documentation
Dematerialized
mode in a single name
Securities held in single name
without nominee with a value not exceeding Rs.5 lakhs per issuer Company.

Note: earlier the limit was
Rs.1 Lakh. without a nominee
Has to submit the list of documents as prescribed by the
depositories vide bye-laws / operating instructions.
Physical mode in a
single name
Securities held in single name
with a nominee
  • Duly signed transmission request form by the nominee. 
  • Copy of death certificate duly attested by a Notary Public or by a Gazetted Officer.
  • Self attested copy of PAN card of the nominee. (Copy of PAN  card  may  be  substituted  with  ID  proof  in  case  of residents of Sikkim after collecting address proof).

Physical mode in a single name
Securities held in single name without a nominee with a value not exceeding Rs.2
Lakhs per issuer Company.
In addition to the above documents, the following documents may be sough;

  • Affidavit made on appropriate non judicial stamp paper to the effect of  identification and claim of legal ownership to the securities and
  • No objection certificate [NOC] from all legal heir(s) or copy of  Family Settlement Deed duly notarized or attested by a Gazetted Officer and executed by all the legal heirs of the deceased holder.
  • Indemnity made on appropriate non judicial stamp paper – indemnifying the STA/Issuer Company.


When   th value   o securities   exceed Rs.2,00,000/-,   the succession certificate (or) Probate of will (or) Letter of Administration (or) Court decree may be sought.

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