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Transmission :
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In case of death of the sole or any of the joint holders of a DEMAT Account, the
existing DEMAT Account is required to be closed and the securities are transferred
to the DEMAT Account of the persons entitled to receive the same. This process is
called Transmission.
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The process of Transmission depends upon whether the DEMAT Account is held in single
or joint names, and whether a nomination has been made for the DEMAT Account.
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A) Demat Account Held in Single name:
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i) Where nomination has been made:
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On death of the sole holder of the Demat Account, if a nomination has been made
by the deceased holder, the nominee can submit the Transmission Form to request
transfer of all securities from the Demat Account of the deceased holder to the
Demat Account of the nominee. A Demat Account has only one nominee, as joint nominees
are not allowed. If the nominee already has a Demat Account, securities can be transferred
to the same. Otherwise, the nominee needs to open a new Account. Go to Open Demat
Account.
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A nominee is required to submit the following documents
a) A completed Transmission Form
b) A copy of the Death Certificate of the deceased holder duly notarized
c) Closure request & Delivery Instruction Slip (DIS) of the deceased account for
transfer of shares.
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ii) Where nomination has not been made:
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On death of the sole holder of the Demat Account, if a nomination has not been made
by the deceased holder, the legal heirs or the legal representatives of the deceased
can submit the Transmission Form to request transfer of all securities from the
Demat Account of the deceased holder to their Demat Account. Legal heirs or the
legal representatives can be one or many as determined by the court. Securities
can be transferred to an existing Demat Account. Otherwise, they need to open a
new Account. Go to Open Demat Account.
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Legal heirs or the legal representatives are required to submit the following documents
a) A completed Transmission Form
b) A copy of the Death Certificate of the deceased holder duly notarized
c) A copy of the probate or letter of administration duly notarised, where the deceased
has left a Will.
d) A copy of Succession Certificate duly notarised or an order of a court of competent
jurisdiction, where the deceased has not left Will.
e) Closure request & DIS of the deceased’s account for transfer of shares.
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B) Demat Account held in joint names:
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i) Where there are surviving holders:
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On death of any holder of a Demat Account held in joint names, the surviving holder
or holders become entitled to receive securities. Where there is a single surviving
holder, the Transmission Form can be submitted by the surviving holder to request
transfer of all securities from the Demat Account jointly held with the deceased
holder to the Demat Account of the single surviving holder. Where there are joint
surviving holders, the Transmission Form can be submitted by them jointly for transfer
of securities to their Demat Account. The Demat Account of the joint surviving holders
should be in the same order as that of the Demat Account held jointly with the deceased
holder. For example, where Demat Account was held in the joint names of X, Y and
Z being the first, second and third holders. If Y deceased, then securities can
be transmitted to X and Z only if they hold a Demat Account where X is the first
holder and Z is the second holder. Securities can be transferred to an existing
Demat Account. Otherwise, a new Account needs to be opened. Go to Open Demat Account.
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Surviving holders are required to submit the following documents:
a) A completed Transmission Form
b) A copy of the Death Certificate of the deceased holder duly notarized
c) Closure request / DIS of the deceased account for transfer of shares.
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ii) Where nomination has been made:
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On death of all joint holders of a Demat Account, if a nomination has been made
by the deceased joint holders, the nominee can submit the Transmission Form to request
transfer of all securities to the Demat Account of the nominee. If the nominee already
has a Demat Account, securities can be transferred to the same. Otherwise, the nominee
needs to open a new Account. Go to Open Demat Account
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A nominee is required to submit the following documents:
a) A completed Transmission Form
b) A copy of the Death Certificate of the deceased holder duly notarized.
c) Closure request / DIS of the deceased account for transfer of shares.
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iii) Where nomination has not been made:
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Legal heirs or the legal representatives are required to submit the following documents:
a) A completed Transmission Form
b) A copy of the Death Certificate of the deceased holder duly notarized
c) A copy of the Probate or Letter of Administration duly notarized, where the deceased
has left a Will.d) A copy of Succession Certificate duly notarized or an order of
a court of competent jurisdiction, where the deceased has not left Will. e) Closure
request / DIS of the deceased account for transfer of shares.
d) A copy of Succession Certificate duly notarized or an order of a court of competent
jurisdiction, where the deceased has not left Will.
e) Closure request / DIS of the deceased account for transfer of shares.
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In case you need any further clarification, you may get in touch with us on 1800-22-3366.
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Transmission Procedure
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1. Download Transmission Form
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Transmission Form can be downloaded in PDF or Word format. This form should be printed
using Adobe Acrobat Reader or Microsoft Word. It should then be filled completely,
signed and sent to IDBI Capital along with a proof of address. Click Download Transmission Form
to open a new window which will guide you through the process.
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2. Send the completed form
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The completed Transmission Request Form should be signed by all the claimants of
the DEMAT Account and submitted to nearest branch of IDBI Capital.
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3. Process after submission of documents
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On receipt of all the documents, IDBI Capital will verify the form. If the form
is in order, IDBI Capital will generate transmission request in the NSDL system.
After this process,you can check your DEMAT holdings.
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