SHARE TRANSFER

Querist : Anonymous (Querist) 07 January 2010 This query is : Resolved
IN CASE OF DEATH OF A DMAT A/C HOLDER,WHAT IS THE PROCEDURE OF TRANSFER OF SHARES THE VALUE OF THE SHARES EXCEEDS ONE LACS AND THE NOMINEE IS NOT REGISTERED?WHAT IS THE ROLE OF REGISTERED WILL IN THIS CASE WHEN SHARES CERTIFICATES MENTIONED IN THE WILL?

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A V Vishal (Expert) 07 January 2010
In case nomination is not made by the sole account holder, the securities would be transmitted to the account of legal heir(s), as may be determined by an order of the competent court. However in cases where the value of securities to be transmitted is less than Rs. 1,00,000/- the DP may process the request based on submission of necessary letter of indemnity , surety , affidavits and NOC documents.

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