Transmission of Shares After Death — Legal Heir Claims & Succession
When a shareholder dies, the shares pass to the nominee or legal heirs through transmission. Since SEBI's July 2026 framework, many families no longer need a court document at all. We work out what your case needs, prepare it, and deal with the registrar.
How to Claim Deceased Parents' Shares Through Legal Heir Transmission
Transmission of shares after death is the legal process by which shares held by a deceased person are transferred to their legal heirs or successors. Unlike a regular share transfer, transmission does not involve a sale — it is a legal inheritance process governed by the Indian Succession Act, Hindu Succession Act, or relevant personal laws.
If a nominee is registered, the nominee submits the transmission request form at Annexure-3 of SEBI's July 2026 framework (which replaced Form ISR-5), a verifiable death certificate and the Client Master List of their demat account. Without a nominee, SEBI's July 2026 framework decides the paperwork by value. For holdings up to ₹10 lakh per company in physical form, or ₹30 lakh in a demat account, legal heirs can generally proceed with a notarised indemnity bond and an affidavit-cum-NOC from the other heirs, with no succession certificate. Above those limits, the heirs also need a will, a legal heirship certificate, or a succession certificate. Probate is no longer compulsory.
Global Equity Solutions manages the entire transmission pipeline — from identifying unclaimed shares across depository participants, preparing legal documentation (succession certificates, legal heir certificates, NOCs from co-heirs), coordinating with RTAs, and ensuring shares are credited to the heir's Demat account.
Our Step-by-Step Process
Heritage Asset Discovery
We search RTA registers, depository records, and company databases to locate all shares held by the deceased shareholder across companies.
Legal Documentation
Preparation of succession certificates, legal heir certificates, death certificates, affidavits, NOCs from co-heirs, and indemnity bonds as required.
Court Petition Support
Where a succession certificate or letter of administration is genuinely needed, usually for high-value holdings with no will or legal heirship certificate, our associated advocates file the petition in the appropriate court.
RTA Transmission Filing
We submit the complete transmission request package to each company's Registrar & Transfer Agent with all verified legal documents.
Demat Credit & Completion
Once approved, the transmitted shares are credited to the legal heir's Demat account. Physical certificates are converted to digital form simultaneously.
The Global Equity Solutions Advantage
Full Succession Support
From court petitions to RTA filings — we handle the entire legal pipeline for share transmission after death.
Multi-Company Discovery
We trace all shares held by the deceased across multiple companies, depositories, and RTAs in a single engagement.
No Nominee? No Problem.
We specialise in cases with no registered nominee: checking whether your family qualifies for SEBI's simplified route, and preparing NOCs, indemnities, legal heir certificates or court petitions only where they are needed.
Pan-India Court Representation
Our legal panel can file succession petitions in any civil court across India through associated advocates.
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Common Questions Answered
It depends on whether there is a nominee, and on value. A nominee needs a verifiable death certificate, the Annexure-3 transmission request form and a current Client Master List. Legal heirs without a nominee need a notarised indemnity bond and an affidavit-cum-NOC from the other heirs if the holding is within SEBI's limits (₹10 lakh per company for physical shares, ₹30 lakh for demat); above those limits, a will or legal heirship certificate with an indemnity bond, each still needing the heirs' NOC, or a succession certificate, which replaces that NOC. Since April 2026 transmitted shares are credited to the claimant's demat account, so a Client Master List is also needed.
Yes. Under SEBI's July 2026 framework, heirs of a holding within ₹10 lakh per company (physical) or ₹30 lakh (demat) can generally claim with a notarised indemnity bond and an affidavit-cum-NOC from the other legal heirs. Above those limits, a will, a legal heirship certificate or a succession certificate is also required. Probate is no longer compulsory.
For physical shares, registrars credit transmitted shares to the claimant's demat account within 30 days of a complete request, under SEBI's April 2026 rules. The longer part is usually gathering documents. If a succession certificate is needed, the court process often takes around six months, and varies by court.
Transfer of shares involves voluntary sale between parties, while transmission occurs by operation of law — typically upon death or insolvency of the shareholder. Transmission does not require stamp duty or a transfer deed.
Guides on transmission of shares
Plain-language explanations of each step, updated for the current SEBI and MCA rules.
Shares after a death
- Shares After a Death: Nominee or No Nominee, and Why It Changes Everything
- Succession Certificate for Shares: When You Still Need One, and How the Court Process Works
- Probate, Legal Heir Certificate or Succession Certificate: Which One Your Family Needs for Shares
- When a Joint Shareholder Dies: What the Surviving Holder Needs to Do
- Several Legal Heirs, One Set of Shares: How Transmission Works When the Family Is Large
- Registrar Objections and Delays in Share Transmission: Common Reasons and How to Escalate
More guides
- Transmission of Shares Without a Succession Certificate: SEBI's 2026 Rules for Legal Heirs
- When Paperwork, Not the Registrar, Holds Up a Share Transmission: Decisions and Preparation
- NRI Legal Heirs: How to Claim a Parent's Shares in India From Abroad
- How to Find Out Whether a Parent or Grandparent Left Shares Behind
- What Is a Legal Heir, and Why It Decides Whether a Share Claim Succeeds
- How to Transfer Your Father's Shares Into Your Name: A Step-by-Step Guide
- Transmission vs. Transfer of Shares: What is the Difference for Legal Heirs?
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