Transfer of Shares – Deceased Shareholder Cases

What is Transmission of Shares?

Transmission is the legal process by which the ownership of shares is transferred to surviving joint holders, nominated individuals, or legal heirs upon the demise of the registered shareholder.

Unlike a regular share sale or transfer, transmission operates by operation of law. Depending on whether a nomination was recorded or whether the value exceeds the statutory threshold, RTAs require specific succession documentation, indemnities, and affidavits.

Common Transmission Scenarios We Handle

• Joint Holding: Deletion of the deceased holder's name and re-registration in the name of surviving holders.
• Registered Nominee: Direct transmission to the designated nominee registered with the company/depository.
• No Nomination (Threshold Limit): Transmission based on Legal Heir Certificate, Family Settlement Deed, and Indemnity Bonds.
• High-Value Claims: Assistance in obtaining a Succession Certificate or Probate of Will from competent civil courts.
• Deceased Cases in IEPF: Coordinating simultaneous transmission and IEPF-5 claim execution.

Key Documents Required

• Original or Notarised Death Certificate of the deceased shareholder(s).
• Original Share Certificates (for physical holdings) or Demat Holding Statement.
• Form ISR-1, ISR-2 (Bank signature verification), and ISR-4 as mandated by SEBI.
• No Objection Certificate (NOC) on stamp paper from non-claiming legal heirs.
• Indemnity Bond and Affidavit of Surety signed by independent guarantors.
• Succession Certificate, Probate of Will, or Legal Heir Certificate (as applicable).
• Self-attested PAN and Aadhaar proof of all legal heirs and claimants.

Transmission Process & Timeline

SEBI has streamlined the transmission procedure. We guide you through each step:

Frequently Asked Questions