Kaagazaat

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Shares and Mutual Funds Transmission Request

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  1. The holding
  2. The person who died
  3. You and the other heirs
  4. What you ask for
  5. Records

Step 1 of 5

The holding

For example: XYZ Securities Ltd (depository participant)

Address of that institutionNeeded
How are the investments held?Needed
Was the holding in one name or jointly?Needed

A long answer. Several lines are fine, and a break you make between paragraphs is the break the document keeps.

For example: 200 shares of XYZ Ltd; units of ABC Equity Fund (growth).

More details — you may leave these

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For example: Officer in charge of transmission

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SHARES AND MUTUAL FUNDS TRANSMISSION REQUEST

Request to record a death and transmit shares and mutual fund units

To: The Officer in charge of transmission, __________, __________

Sir or Madam,

  1. 2. The investments. __________
  1. 6. What I ask you to do.

(a) Record the death against the holding, and do not act on any instruction about it from anyone else until the transmission is decided.

(b) Tell me in writing the transmission form and every paper you need from me and from the other legal heirs, and whether you need anything more because of the value of the holding or because I do not yet have a demat account or folio of my own.

(d) Give me a statement of the investments, with the number of shares or units and their value as on the date of death and as on today.

(e) Confirm to me in writing when the transmission is done, and send me the new statement.

  1. 7. What I accept. I understand that a nominee is dealt with so that you are safely discharged, and that this does not by itself decide who owns the investments as against the other legal heirs. If the investments are placed in my name and it is later found that someone else had a better right, I will account to that person for what I received.
  1. 8. If the request is not dealt with. If you reject the request or do not reply within the time allowed, I will write to your investor grievance officer and then use the complaint route open to investors, including the complaint system of the Securities and Exchange Board of India, and I am free to bring a consumer complaint before the District Consumer Disputes Redressal Commission.

Please acknowledge this letter and tell me the name and telephone number of the officer who will handle the request.

ENCLOSURES

LEGAL BASIS

Punjab: The transmission of shares and other securities on the death of the holder is governed by the Companies Act, 2013, the Depositories Act, 1996 and the regulations of the Securities and Exchange Board of India, and the transmission of mutual fund units by the Board's mutual fund regulations. The depository participant, the company's registrar or the fund house moves the holding to the nominee or, where there is none, to the legal heirs on the papers its rules require. A nominee is dealt with so that the institution is discharged and does not by that fact alone become the owner as against the other heirs; the order in which a Hindu's heirs inherit is set by the Hindu Succession Act, 1956, and other communities follow their own law. Where there is no nominee, the institution may ask for proof of heirship, an indemnity, or a succession certificate, which the District Judge grants under the Indian Succession Act, 1925. The papers asked for, and any simpler procedure for small holdings, are set by the depositories, the registrars and the Board's circulars in force. A person who is not satisfied can complain to the institution's grievance officer and to the Board's investor complaint system, or file a consumer complaint before the District Commission. A dispute among the heirs is decided by the civil court, and an appeal goes to the District Judge or to the Punjab and Haryana High Court.

Chandigarh: The same Acts, regulations and circulars apply to an investor in the Union Territory, with a succession certificate granted by the District Judge, Chandigarh. A person who is not satisfied can complain to the institution's grievance officer and to the Board's investor complaint system, or file a consumer complaint before the District Commission serving the Union Territory. A dispute among the heirs is decided by the civil court at Chandigarh, with an appeal to the District Judge, Chandigarh, or to the Punjab and Haryana High Court.

PERSONAL DATA NOTICE

This notice is given under the Digital Personal Data Protection Act, 2023.

The purpose of collecting personal data in this Shares and Mutual Funds Transmission Request is to identify the person who died, the investments and the claimant, record the request for transmission, and let the institution transmit the holding or say what more it needs.

If the matter does not proceed, the personal data will be retained for 90 days and then erased. If the matter proceeds, the record will be retained for the matter plus 12 months, except where a statute requires a longer named retention period.

Data minimisation: this document does not collect a full Aadhaar number, an Aadhaar-card copy, a password or bank credentials.

SIGNATURE

The rest stays out of view until every answer is in.

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