What is the procedure for a death claim if the deceased account has no holdings but have some funds?

• The following documents must be submitted by the successor or the nominee for a death claim if there is no holding in deceased’s account:
  1. Account closure form (PDF)
  2. Death certificate of the deceased holder original/ notarised/ attested by a gazetted officer.
  3. Self-attested copy of the PAN of the successor or the nominee.
     
• Courier the documents to:
  Jainam House
  New Passport Office Road,
  Kargil Chowk, Piplod,
  Surat-395007
• • Procedure of Transferring the funds: - As the deceased client have some funds in his trading account, procedure related to transfer of those funds will be completed prior to closure of his demat account. If the deceased have: -
  1. Credit Balance: -
     • • If the bank a/c mapped with Jainam is active or if it is a Joint a/c then : -
         The credit fund balance of the deceased’s trading a/c will be transferred to the deceased active bank a/c mapped with Jainam.
       • If the bank account of the deceased client is not active and he have a nominee then :-
         the funds will be transferred to the successor or nominee’s bank account mentioned in the CMR. A personalised cancelled cheque or a bank statement/passbook not older than 3 months should be given by the successor(s)/Legal heirs(s) if the deceased has a credit balance.
       • If there is no nominee appointed in the demat a/c and there are no securities in the demat a/c as on the date of the death of the client but, there is a credit balance in his trading a/c then, in such cases documents related to family tree can be asked by Jainam's team to ascertain the true successor of the client.
         
  2. Debit balance: -If the deceased trading a/c has a debit balance then, such debit( negative) balance needs to be paid to Jainam by the claimant before transmission process.
     1. • If the bank a/c mapped with Jainam is active or if it is a Joint a/c (including the deceased) then : -
           fund transfer ( as by cheque/RTGS etc.) from that bank a/c is acceptable.
        • If the bank a/c mapped with Jainam is deactivated then : - the successor/nominee/claimant  must provide a DD (Demand Draft) in the name of the Jainam Broking ltd.