What is the procedure in case of Single Holder Account, if nominee is NOT mapped?

• A Demat account in the name of Successor(s)/Legal heir(s) has to be opened (If not already opened).

If Successor(s)/Legal heir(s) already has an account, the nominee in that account should not be the deceased BO, if so, nominee needs to be changed.

• The Ledger balances in all the segments of clients’ account should be zero.
• There should be no shares in collateral or debit stock.
• Send Account Transmission-cum-Closure Form  along with below mentioned documents:

If Holdings Valuation is < 5 Lakhs:

1. Client Master Report (CMR) of the Successor(s)/Legal heir(s)’s Demat account, duly stamped & signed by his/her/their DP.

2. Original or Notarized copy of the Death certificate of the deceased holder.

3. Latest Holding statement of deceased BO’s account, duly signed by the Successor(s)/Legal heir(s).
4. PAN copy(s) of the Successor(s)/Legal heir(s), duly signed.
5. Letter of Surety from an Independent Surety who is not the spouse/family member of the applicant and who is acceptable to the DP (Annexure 7.4), along with PAN copy of Surety, duly signed by him/her.

6. Letter of Indemnity executed by the applicant(s) and Surety on non-judicial stamp paper of appropriate value. (Annexure 7.3)

7. An Affidavit from the applicant(s) executed on non-judicial stamp paper of appropriate value duly notarized. (Annexure 7.5)

8. No objection certificate by family members.

If Holdings Valuation is => 5 Lakhs:

1. Client Master Report (CMR) of the Successor(s)/Legal heir(s)’s Demat account, duly stamped & signed by his/her/their DP.

2. Original or Notarized copy of the Death certificate of the deceased holder.

The Notary’s stamp should be clearly visible.

3. Latest Holding statement of deceased BO’s account, duly signed by the Successor(s)/Legal heir(s)
4. PAN copy(s) of the Successor(s)/Legal heir(s), duly signed.
5. Any one of Succession certificate or Probate of WILL or Letter of Administration issued by Honorable High Court.

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