India
NRI
Yes, Transmission may be required in either of the two cases:
a. If the shares are held in physical form: If the securities are held in physical form and the client wishes to demat these holdings, then the surviving holders have to open a demat account in the name of the surviving holder only. In case the surviving holders already have a demat account in their names a new demat account is not required. The physical shares have to be submitted to DP ( Axis Securities Ltd) along with the duly signed Demat Request Form and Transmission form. The shares will be then sent to the respective companies which will be dematerialized and credited to the surviving holder’s account.
| Sr. No. | Type of Document | Nominee | Joint Holder | Legal Heir -Claimant (15 lacs or above) | Legal Heir- Claimant (Below 15 lacs) |
|---|---|---|---|---|---|
| 1 | Transmission Form - Signed by all the Legal Heir/s | YES | YES | YES | YES |
| 2 | Death Certificate - Original or copy attested by a notary public or by a gazetted officer | YES | YES | YES | YES |
| 3 | Self attested Copy of PAN and Aadhaar of Claimant/s with IPV OSV | YES | YES | YES | YES |
| 4 | CML Target and Deceased Account generated from the NSDL/CDSL system, signed and stamped by the issuing Depository Participant required | YES | YES | YES | YES |
| 5 | Affidavit - Notarized on a Rs.100 stamp paper from all the claimant/s - Should be separate for each claimant duly verified by a Magistrate / Notary & it should be in favour of Axis Securities and should also have a ‘Before me’ stamp on the document | NO | NO | YES | YES |
| 6 | Indemnity Bond - Made on a non-judicial stamp paper of Rs.500/- from all the legal heir(s) / claimant(s) to whom the securities are transmitted duly verified by a Magistrate / Notary & it should be in the favour of Axis Securities | NO | NO | YES | YES |
| 7 | No Objection Certificate - Made on a non-judicial stamp paper of Rs.100/-from all the legal heir(s) / non-claimants who do not wish to claim for transmission of securities OR Copy of Family Settlement Deed duly executed by all legal heir(s), duly attested by a notary public or by a gazetted officer | NO | NO | Only From Non Claimants | Only From Non Claimants |
| If a customer has any of the following documents NO INDEMNITY would be required | |||||
| 8.a | Copy of the Succession Certificate (in terms of the Indian Succession Act, 1925), evidencing rights of the legal heir(s) / claimant(s), attested by the legal heir(s) / claimant(s) subject to verification with the original or duly attested by a notary public or by a gazetted officer; OR | NO | NO | Optional | Any 1 of these documents is compulsorily required |
| 8.b | Copy of Letter of Administration (in terms of the Indian Succession Act, 1925), evidencing rights of the legal heir(s) / claimant(s), attested by the legal heir(s) / claimant(s) subject to verification with the original or duly attested by a notary public or by a gazetted officer; ¬OR | NO | NO | Optional | |
| 8.c | Copy of Court Decree (in terms of the Indian Succession Act, 1925), evidencing rights of the legal heir(s) / claimant(s), attested by the legal heir(s) / claimant(s) subject to verification with the original or duly attested by a notary public or by a gazetted officer; OR | NO | NO | Optional | |
| 8.d | Copy of Probate* of Will (in terms of the Indian Succession Act, 1925), evidencing rights of the legal heir(s) / claimant(s), attested by the legal heir(s) / claimant(s) subject to verification with the original or duly attested by a notary public or by a gazetted officer; | NO | NO | Optional | |
