Thank you very much, Ravinder Sir! There is nomination done for the bonds. So the steps to be followed are:
1) On death of original bond-holder, the nominee will inform the company (NHAI and REC) and takes possession of the bonds as a caretaker. However, the bonds will continue to remain in the name of the original bond-holder (not the nominee).
2) Second step is that the nominee will inform the legal heirs to take possession of the bonds.
3) The legal heirs will follow an established legal procedure and the bonds will be transmitted in the names of the legal heirs.
4) The legal heirs will not cancel/sell the bonds until the lock-in period of 3 years is complete. Therefore, full tax exemptions will be available.
Dear Ravinder Sir, have I understood all the steps correctly now? Many thanks.