Documents Required for Transmission of Shares: A Complete Checklist

When a shareholder passes away, their shares do not just vanish — they must be legally transferred to the rightful heir or nominee through a process known as transmission of shares. Unlike a transfer, which involves a sale or gift during a person’s lifetime, transmission happens by operation of law. To ensure a smooth and hassle-free process, it’s essential to have the right documents ready. Here’s a simple and complete checklist to guide you.

1. Request Letter for Transmission: The first step is to write a formal request to the company’s registrar or share transfer agent (RTA). This letter should clearly mention the details of the deceased shareholder, the number of shares, and the relationship of the claimant.

2. Death Certificate: A certified copy of the death certificate is mandatory. It serves as official proof of the shareholder’s passing and must be either self-attested or notarized before submission.

3. Share Certificates: You’ll need to provide the original share certificates held by the deceased. If these are lost or misplaced, a duplicate share certificate must be requested with supporting documents like an indemnity bond and affidavit.

4. Succession Proof: This is one of the most important documents. Depending on the situation, it can be:

• Probate of Will, if a will exists and is legally approved.
• Succession Certificate, if no will is available.
• Letter of Administration, if the legal heirs are administering the estate.

If a nominee is already registered, this step becomes easier, as the shares can be transmitted directly to the nominee.

5. KYC Documents of the Claimant: The claimant or nominee must submit Know Your Customer (KYC) details, including:

• PAN Card
• Aadhaar Card or Passport (for address proof)
• Recent passport-size photograph

6. Indemnity Bond and No-Objection Certificate (NOC): In cases with multiple legal heirs, an NOC from other heirs may be required, along with an indemnity bond protecting the company from future disputes.

Final Thoughts: The transmission of shares can seem complicated, but with the right documents and guidance, it’s a straightforward process. Keeping all records organized and verified ensures the legal heir or nominee rightfully receives the ownership without unnecessary delays.