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IEPF Assist

Share transmission after the death of a shareholder

SEBI revised the transmission framework in July 2026. We help you work out which category your claim falls in and prepare the right documents.

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What is transmission?

Transmission is the change in ownership of securities by operation of law — in particular when a holder dies. It is different from a transfer, which is a voluntary sale or gift between living persons.

SEBI's circular of 23 July 2026 introduced a revised, standardised framework for transmission of listed securities and mutual fund units, applicable from 30 days after issue. It created a category called Quick Transmission Processing (QTP) for low-value claims and revised the thresholds for simplified documentation.

What this service involves

  • Identifying your category

    Nominee, surviving joint holder, or legal heir; and QTP, simplified, or above-threshold.

  • Valuing the claim

    The claim value is based on the previous closing price on a recognised stock exchange.

  • Preparing forms and documents

    Transmission request form, CML, death certificate, certificates or statement of account, and category-specific papers.

  • Filing and follow-up

    With the RTA, company, depository participant or asset management company, as applicable.

Who may need this service

  • Nominees

    Named in the shareholder's records.

  • Surviving joint holders

    Where one of several joint holders has died.

  • Legal heirs

    Where there is no nomination.

Common problems we see

  • No nomination

    Requires proof of legal heirship and indemnities in many cases.

  • Missing original certificates

    Which may require a duplicate-cum-transmission route.

  • Disputes among heirs

    The framework does not apply where there is dispute or competing claims.

  • Old information

    Articles written before July 2026 may still insist on probate or older forms.

How the process generally works

The exact steps depend on the company, the type of holding and the facts of your case. This is a general outline.

  1. 1

    Classify the claim

    Nomination or not; physical or demat; value category.

  2. 2

    Prepare the standard forms

    Annexure formats prescribed by SEBI — request form, indemnity bond, affidavit-cum-NOC where applicable.

  3. 3

    Submit to the processing entity

    The entity must acknowledge and tell you at once of any missing documents.

  4. 4

    Processing

    The entity is expected to process a complete case within 21 calendar days, or give written reasons for delay or rejection.

  5. 5

    Credit and confirmation

    Securities held in physical form are dematerialised and credited directly to the claimant's demat account.

Document checklist

Checklist: transmission of securities after the holder's death

Applies to: Nominee, surviving joint holder or legal heir; listed securities (SEBI circular of 23 Jul 2026)

Common documents apply in all categories; extra documents depend on nomination and on whether the claim is QTP, simplified or above threshold. Thresholds: QTP ₹10,000 (physical) / ₹30,000 (demat); simplified ₹10 lakh (physical) / ₹30 lakh (demat).

Common documents (all claims)

  • Transmission request form (the SEBI-prescribed format for your category)
  • Latest CML of the claimant's demat account
  • Verifiable death certificateOriginal, nominee-attested copy checked against the original, copy attested by a notary / Gazetted Officer / JMFC, or one with a QR code.
  • Original security certificate(s) or copy of statement of account, as applicable
  • If a claimant is a minor: birth certificate, school-leaving certificate, passport or attested Aadhaar copy, and guardian's KYCIf applicable

Where nomination exists

  • Documents above are generally sufficient for the nominee(s)The nominee receives the assets as trustee for the legal heirs.

No nomination — QTP (low-value)

  • Request form-cum-undertaking on plain paper
  • Document establishing relationship (immediate relatives only: parents, spouse, children, parents-in-law)

No nomination — simplified documentation

  • Notarised indemnity bond
  • Notarised affidavit-cum-NOC from all legal heirs, or a family settlement deed attested as prescribedNot needed if you produce a court-issued succession certificate, probate, letter of administration or decree for these items.

No nomination — above threshold

  • Notarised affidavit-cum-NOC from all legal heirs
  • Copy of will with notarised indemnity bond, OR legal-heirship certificate from a revenue authority not below Tehsildar with indemnity bond, OR succession certificate / letter of administration / court decree

Death outside India

  • Certified true copy of the death certificate (notary/court abroad, consularisation, apostille, or certain overseas bank certification)If applicable
  • English translation, if the original is in another languageIf applicable

How IEPF Assist can help

  • Working out the category and documents for your case
  • Preparing standard forms and indemnity papers
  • Checking that documents are consistent before filing
  • Following up with the entity

We are an independent consultancy. We help you prepare, organise and follow up — the decision on your request always rests with the company, the Registrar and Transfer Agent (RTA), the depository or the relevant authority.

Expected stages and possible delays

We cannot promise a completion date, because processing depends on third parties. Common reasons for delay include:

  • Missing or defective documents
  • Differences between claimant and deceased holder details
  • Disputed claims
  • Notarisation and stamp-paper arrangements

Frequently asked questions

Is probate still compulsory?
Under the July 2026 framework the mandatory requirement of probate of a will has been removed, in line with SEBI's circular. Other court documents, if you have them, can simplify other requirements.
What if there are many legal heirs?
Depending on the category, an affidavit-cum-NOC from all legal heirs, a family settlement deed, or a court-issued document may be needed.
Is transmission the same as transfer?
No. Transmission happens by operation of law, for example on death. See our guide on the difference.

Related services

Legal Heir Share Claims

Help for legal heirs claiming shares and dividends of a deceased shareholder — from tracing to transmission or IEPF claims.

Read more

Succession Certificate Assistance

Help understanding when a succession certificate is needed and preparing the facts and documents for the court application.

Read more

Deceased Shareholder Documentation

Help preparing death certificates, nominee and heir documents, affidavits and indemnities for claims on a deceased holder's securities.

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Discuss your case with us

Tell us what you know about the shares or documents. We will explain the likely route and what to keep ready.

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Last updated 18 Oct 2026. This page is general information, not legal or financial advice.

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