The word ‘transmission’ means devolution of title to shares otherwise than by transfer, for example, devolution by death, succession, inheritance, bankruptcy, marriage, etc. While transfer of shares is brought about by delivery of a proper instrument of transfer (viz, transfer deed) duly stamped and executed, transmission of shares is done by forwarding the necessary documents to the company. On registration of the transmission of shares, the person entitled to transmission of shares becomes the shareholder of the company and is entitled to all rights and subject to all liabilities as such shareholder.

In case the deceased shareholder had holdings in different companies, then in order to effect transmission of shares for these shares, the relevant documents must be sent to each of the companies, along with the share certificates.

Points to note

• Registering a nomination for a demat account helps eliminate the need for documents such as will, succession certificate for transmission of securities.
• The nominee/legal heirs are required to have a DP account if not already there.
• As an alternative to NOC, attested copy of a family settlement deed can be provided

Important Documents Required

• The Death Certificate
• Claim Application Form
• Probate of WILL
• Succession Certificate