Transmission to Legal Heirs
Transmission is the operation of law where shares are transferred to legal heirs or nominees upon the death of the shareholder. The process varies significantly based on whether a nominee is registered, the value of shares, and whether they are in physical or demat mode.
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Difference between Transfer and Transmission?
Transfer is a voluntary act (sale/gift), while transmission happens due to death, bankruptcy, or insanity. Transmission does not require stamp duty but requires strict proof of entitlement.
Advantages & Benefits
Wealth Preservation
Ensure family assets are legally passed on.
Unfreezing Assets
Deceased accounts are frozen; transmission unlocks them.
Who Should Opt for This?
Nominees of deceased shareholders
Legal heirs (children/spouse) where no nominee exists
Documents Required
For Directors / Shareholders
- Original Death Certificate (Notarized)
- Client Master List (CML) of Heir
- Notarized Affidavit & Indemnity Bond
- No Objection Certificate (NOC) from other heirs
- Succession Certificate / Probate / Will (for high value)
* Document requirements may vary depending on specific cases and government regulations.
Process Flow
Initial Check
Determining if nomination exists and assessing portfolio value.
Legal Compliance
Obtaining NOCs or Succession Certificates if needed.
Submission
Filing request with RTA (Physical) or DP (Demat).
Transmission
Shares transferred to Heir's account.
Estimated Timeline
2 - 8 Months (depends on Succession Certificate)
Subject to government processing time
Professional Fees
Consultation based
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