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SEBI Circular dt. 15.09.2016 for Standardization and Simplification of Procedures for Transmission of Securities:

SEBI vide Circular no. SEBI/ HO / MIRSD3 / CIR / P / 2016 / 0000000085 dt. 15.09.2016, with regard to the clarification sought by investors for clause 2 of Annexure-A of Circular no. CIR/MIRSD/10/2013 dated October 28, 2013, modified the said clause regarding Documentary requirement for securities held in physical mode.

Following changes are undertaken for securities held in single name without a nominee-

  • Affidavit from all the legal heirs made on appropriate non judicial stamp paper.
  • For value of securities upto Rs. 2,00,000:

Succession certificate or probate of will or will or letter of administration or court decree; and in absence of this

  • NOC from all legal heir(s)

And

  • An Indemnity bond made on appropriate non judicial stamp paper
  • For value of securities more than Rs. 2,00,000:

Succession certificate or probate of will or will or letter of administration or court decree.

For detailed information, the said Circular available at the following link:sebi-circular_15-09-2016_transmission-of-securities

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