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Transmission

Transmission of securities refers to the transfer of securities from an account to another as a result of the death of the sole/any of the holder of the former account. For this the latter need not approach each issuing company or its R & T Agent. Only the DP of the former account needs to be approached. Here the transfer may be done to:

  • Surviving holders
    If the former account is a joint holding account and there is at least one survivor, the survivor(s) can request the DP for the securities to be transferred to his/their demat account.

  • Nominee where a nomination has been made
    If there is no survivor amongst the account holders and a nomination had been made by the holder(s) earlier, the nominee can request the DP for the securities to be transferred to his demat account.

    In addition to the documents specified under Common Requirements below, an Affidavit duly completed by the nominee in the format specified by NSDL/CDSL and attested by a notary/magistrate should be submitted by the claimant.

  • Legal heir where a nomination has not been made
    If there is no survivor amongst the account holders and a no nomination had been done by the holder(s) earlier, the legal heirs can request the DP for the securities to be transferred to his demat account. In addition to the documents specified under Common Requirements below, a true copy of the Succession certificate or Probate or Letter of administration duly notarised should be submitted by the claimant.

  • Common Requirements and Effect
    No transaction charges will be levied for transfer of shares from the old account to the account of the claimant.

    If the demat account of the claimant does not exist, a new demat account will need to be opened. If the claimant is having a demat account but with another DP, a proof of the same is required from the other DP. (Client master from the DPM)

    The claimant only needs to approach the DP. He need not lodge a claim for transmission separately with each issuing company or its R&T Agent. The following documents should be submitted with the request:
    i) A copy of the death certificate duly attested by a notary or verified with the original by an authorised person of the ICICI Bank branch.
    ii) Transmission form duly completed by the claimant in Annexure "O".
    iii) An Off-market TIFD for the entire securities/ holdings for transmitting the shares.