In the event of death of the sole shareholder, how can the successors claim the securities lying in the beneficiary account?
Ans In the case of transmission, the claimant will have to fill in a transmission request form (which is available with the DP), supported by valid documents. The DP, after ensuring that the application is genuine, will transfer securities to the account of the claimant. For this, the claimant must have a depository account. The major advantage in transmission of dematerialised holdings is that the transmission formalities for all securities held with a DP can be completed in one go, unlike in the case of share certificates, where the claimant will have to interact with each issuing company or its R&T Agent.
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