Procedure for Transmission (Name Deletion) and Dematerialisation to be done together
In case of joint holdings, on the death of any one or more of the jointholder(s), the surviving jointholder(s) can get the name(s) of the deceased deleted from the physical certificate(s) and get the securities dematerialised by following the procedures mentioned below:
- Make a request to the DP for deleting the name(s) of the deceased as per Transmission Form.
- Submit a DRF alongwith the security certificates and the documents mentioned above to the DP.
- On receipt of the documents mentioned above, the DP shall ensure that the certificates submitted by the Client are registered in the name of the Client(s) along with the name(s) of the deceased and the order of the names on the certificate is the same as the Client account.
- The DP while processing the request for name deletion and dematerialisation shall ensure compliance of the Business Rules and forward the same to the Issuer or its R & T Agent.
- On being satisfied with the documents received, the Issuer or its R & T Agent shall carry out the name deletion and then process the dematerialisation request, as per the prescribed procedure.
This is in line with SEBI's norms regard to Good/Bad delivery.