Route 01
Nominee
Where a valid nomination exists, the nominee may be able to initiate the transmission process, subject to the applicable documentation and rules.
Transmission of shares is the process through which a deceased shareholder's holdings can pass to the person or persons legally entitled to them. The route can involve a nominee, legal heir, will, probate or succession documentation.
From deceased shareholder to entitled claimant
When a shareholder dies, their shareholding does not simply disappear. The relevant company, registrar or depository needs documentation establishing who is entitled to receive or register the holding.
Transmission is different from a normal transfer. A normal transfer is a voluntary transaction between parties. Transmission generally arises because ownership passes following the death of the registered holder.
Different situations can call for different legal documents. The correct route should be determined from the shareholder's actual estate and ownership circumstances.
Where a valid nomination exists, the nominee may be able to initiate the transmission process, subject to the applicable documentation and rules.
Where a valid will applies, probate may be required depending on the circumstances and applicable requirements.
In appropriate cases where the shareholder died without a will, a court-issued succession certificate may form part of the claim.
Depending on the circumstances, a legal heir certificate or letter of administration may be relevant to establishing entitlement.
One of the most important questions in a transmission case is whether the deceased shareholder left a valid will.
The claim may follow the testamentary route, with the person named in the will establishing entitlement through the documents required in the relevant circumstances, which can include probate.
The claim may proceed through intestate succession, with entitlement established through the appropriate legal-heir or succession documentation.
Every case is different, but the overall journey generally involves establishing entitlement, preparing documents and submitting the appropriate transmission request.
Collect folio, certificate, ISIN, demat or registrar details and identify the relevant shares and account information.
Determine whether the case is based on a nominee, will, legal-heir status or succession process.
Gather identity, ownership, death, banking, nomination and legal documents relevant to the particular case.
Submit the transmission request to the appropriate company, registrar or depository and track any additional requirements.
Your exact checklist should be confirmed for the holding and ownership circumstances. Common supporting documents can include:
Identity and tax documentation of the claimant and relevant parties.
Official proof of death of the registered shareholder.
Where the claim follows a testamentary route.
Where the claim proceeds through intestate succession.
Supporting banking documentation where required.
Required where the holding is being transmitted into a demat account.
Tell the SR Finance team about the shareholder, the holding and the current situation. We'll help you understand the likely documentation and next steps for your case.