What is the procedure for transmission of shares if no nominee was appointed by the deceased?

What is the procedure for transmission of shares if no nominee was appointed by the deceased?

  • The process of transmission of shares in such cases where there is no nominee appointed by the deceased will depend on the market value of the holdings in each of the accounts of deceased as of the date of application for transmission:-
    1. If the market value of holdings is up to ₹15 lakhs.

    2. If the market value of holdings is more than ₹15 lakhs.