Applicable transmission process

For securities held in a FYERS demat account, identify the applicable scenario before submitting the request:

For demat securities, the ₹30 lakh simplified-documentation threshold applies per beneficial owner. The value of the securities is determined using the previous closing price at any recognised stock exchange.

Forms required for transmission

Use the applicable forms from the FYERS Transmission documents folder based on your claim category.

SOP for Transmission of Securities from demat holding – Annexure A1

This document explains the process followed for transmission of securities held in a demat account, including cases with a registered nominee and cases where no nominee is registered.

Quick Transmission Process (QTP) Form – Annexure 2

Use this form when:

• No nominee is registered.
• The value of securities in the demat account is up to ₹30,000; physical securities are up to ₹10,000.
• The claimant is an immediate relative of the deceased, namely a parent, spouse, child, or parent-in-law.

The claimant must also provide a document establishing their relationship with the deceased.

The transmission documentation checklist additionally requires a Transmission Request Form-cum-Undertaking on plain paper in the prescribed format for QTP cases.

Transmission Request Form – Annexure 3

Use this form for:

• Transmission to a registered nominee.
• Claims without a nominee that do not fall under QTP.
• Simplified documentation claims.
• Above-threshold claims.

The supporting documents will depend on the category of the claim.

Bond of Indemnity – Annexure 4

The Bond of Indemnity is applicable to certain transmission requests where no nominee is registered.

Where required, it must be executed on non-judicial stamp paper of the appropriate value applicable in the State where the claimant resides and completed as specified in the form.

Affidavit – Annexure 5

Annexure 5 is the Affidavit-cum-No Objection Declaration used for applicable transmission requests where no nominee is registered.

It records the legal heirs' identification, claim to the securities, and applicable no-objection declaration. It must be executed on non-judicial stamp paper of the appropriate value and notarised or attested as specified in the form.

If a nominee is registered

The registered nominee must submit:

• Transmission Request Form – Annexure 3.
• Latest Client Master List (CML) of the nominee's demat account.
• A verifiable death certificate of the deceased account holder.
• Applicable guardian documents if the nominee is a minor or is of unsound mind.

A verifiable death certificate may include an original or appropriately attested death certificate, or a death certificate containing a QR code that can be verified.

Once the securities are transmitted, the nominee receives them as a trustee on behalf of the legal heirs of the deceased holder.

If no nominee is registered

Where no nomination exists, the securities are transmitted to the eligible claimant or legal heir. The additional documents depend on the value and category of the claim.

For QTP claims up to ₹30,000

For physical securities, the QTP limit is ₹10,000.

Submit:

• Quick Transmission Process (QTP) Form – Annexure 2.
• Transmission Request Form-cum-Undertaking on plain paper in the prescribed format.
• Latest CML of the claimant's demat account.
• Verifiable death certificate of the deceased account holder.
• Proof establishing the claimant's relationship with the deceased.
• Applicable age proof and guardian KYC documents if the claimant is a minor or is of unsound mind.

QTP is available only where the claimant is the deceased holder's parent, spouse, child, or parent-in-law. The checklist specifically requires documentary evidence establishing this relationship.

For claims under the simplified documentation category

For a claim that does not qualify for QTP but falls within the simplified-documentation threshold of ₹30 lakh for demat securities or ₹10 lakh for physical securities, submit:

• Transmission Request Form – Annexure 3.
• Latest CML of the claimant's demat account.
• Verifiable death certificate.
• Applicable statement of account/security holding document prescribed under the transmission checklist.
• Bond of Indemnity – Annexure 4.
• Affidavit – Annexure 5, completed by the applicable legal heirs.
• Applicable age proof and guardian KYC documents if the claimant is a minor or is of unsound mind.

Instead of the Affidavit-cum-No Objection Declaration, a family settlement deed executed by all legal heirs may be submitted if it is duly attested by a notary public or gazetted officer, or accepted and approved by a magistrate, judge, or civil court.

If the claimant submits a court-issued Succession Certificate, Probate of Will, Letter of Administration, or Court Decree, the notarised indemnity bond is not required. The Affidavit-cum-NOC from non-claimant legal heirs is also not required in such cases, as prescribed in the checklist.

For claims above ₹30 lakh

In addition to the common documents, the claimant must submit the applicable succession documents.

Submit the applicable Affidavit-cum-NOC from the legal heirs and any one of the following:

• Copy of the Will, where applicable under the Indian Succession Act, 1925, along with a notarised indemnity bond from the legal heir(s) or claimant(s) to whom the securities are to be transmitted; or
• Legal Heirship Certificate or equivalent certificate issued by the relevant authority, which must be a revenue authority not below the rank of Tehsildar or equivalent, along with a notarised indemnity bond; or
• Copy of a Succession Certificate, Letter of Administration, or Court Decree.

Where a Succession Certificate, Probate of Will, Letter of Administration, or Court Decree is submitted, the Affidavit-cum-NOC from non-claimant legal heirs is not required.

For above-threshold cases, additional documents may be requested where permitted under the applicable transmission framework.

Transmission document checklist

Before sending the transmission request, use the following checklist to ensure that the applicable documents are included. The checklist below follows the documentation grid in Annexure-1.

*Note: The indemnity bond and/or Affidavit-cum-NOC may not be required where the prescribed court-issued succession documents are submitted, as explained above.

Additional checklist requirements

For QTP: The relationship proof is mandatory and must establish that the claimant is the deceased holder's parent, spouse, child, or parent-in-law. A Transmission Request Form-cum-Undertaking on plain paper in the prescribed format is also required.

For simplified documentation claims: A notarised indemnity bond and Affidavit-cum-NOC are required unless the applicable exemptions for court-issued succession documents apply. A duly attested or approved family settlement deed executed by all legal heirs may be submitted instead of the Affidavit-cum-NOC.

For above-threshold claims: The claimant must submit the applicable succession document. Where a Will or Legal Heirship Certificate/equivalent certificate is used, a notarised indemnity bond is also required. The processing entity may ask for additional documents where permitted under the applicable framework.

Submission of transmission request

1. Identify whether the claim falls under the nominee, QTP, simplified documentation, or above-threshold category.
2. Complete the applicable transmission form and supporting annexures.
3. Use the transmission document checklist above to confirm that all documents applicable to the claim are included.
4. Ensure that documents requiring notarisation, attestation, or execution on stamp paper are completed accordingly.
5. Attach the latest CML, verifiable death certificate, and other documents applicable to the claim.
6. Courier the completed documents to:

FYERS Securities Private Limited
901 and 902, 9th Floor, A Wing, Brigade Magnum
Amruthahalli, Kodigehalli Gate, Hebbal
Bangalore – 560092

FYERS will acknowledge the transmission request and inform the claimant if any required document is missing, incomplete, or incorrect.

Once all required documents have been received, the transmission request must be processed within 21 calendar days. If the request is delayed or rejected, the reason will be communicated to the claimant.