Quick Transmission Processing for low-value claims, higher thresholds for simplified documentation, no mandatory probate, and a 21-day processing period. A plain-English summary of the 23 July 2026 circular.
On 23 July 2026 SEBI issued a circular (HO/38/13/11(14)2026-MIRSD-POD/I/17111/2026) simplifying and standardising how listed securities and mutual fund units are transmitted after a holder's death. It came into force 30 days after issue — that is, from 22 August 2026.
The main changes
- Quick Transmission Processing (QTP) — a new category for low-value claims: up to ₹10,000 for securities in physical mode and ₹30,000 for securities in demat mode. Only immediate relatives (parents, spouse, children and parents-in-law) can use it, with a request form-cum-undertaking on plain paper and proof of relationship.
- Higher thresholds for simplified documentation — ₹10 lakh for physical and ₹30 lakh for demat securities. A listed entity may raise the physical threshold at its discretion.
- No mandatory probate of a will, in line with recent changes in succession law.
- Combined affidavit-cum-NOC in place of a separate affidavit and NOC.
- More ways to prove death — including a death certificate with a QR code — and additional modes for certifying death certificates issued abroad.
- Processing period — the entity should process a complete case within 21 calendar days, or give reasons in writing for delay or rejection.
How the claim value is worked out
The value is quantified by the claimant on the basis of the previous closing price on a recognised stock exchange (or last NAV for fund units), per listed entity for physical holdings and per beneficial owner for demat.
What is still required
In all categories: a transmission request form, a recent CML of the claimant's demat account, a verifiable death certificate and the original certificates (or statement of account). Higher categories add indemnity bonds, affidavit-cum-NOC from legal heirs or a family settlement deed — unless the claimant produces a court-issued document such as a succession certificate, probate, letter of administration or decree.
Disputes: the framework does not apply where there is a dispute or competing claims. Those must be resolved through appropriate legal proceedings.
Using the new rules
Entities were also asked to process requests received before the effective date under the revised framework where possible, without asking for documents already submitted to be resubmitted in new formats. If your request is pending, ask the RTA or DP how they are applying it.
See our pages on share transmission and legal-heir share claims, and our document checklists.
Frequently asked questions
Is QTP available for any relative?
Does the 21-day period start when I first apply?
Dealing with this situation?
We can explain which route applies to your case and what to prepare. Outcomes depend on the company and authorities.
Request ConsultationThis article is general information, not legal, tax or investment advice. IEPF Assist is an independent consultancy and is not affiliated with SEBI, MCA or the IEPF Authority.