When a shareholder passes away, legal heirs and nominees often struggle to understand the exact process and documentation required to transfer shares into their names. To simplify this process, the Securities and Exchange Board of India (SEBI) issued Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/65 dated May 18, 2022. The circular includes Annexure A, which serves as a ready reckoner listing the documents required for the transmission of securities in different situations.
For investors and families dealing with unclaimed or inherited shares, Claim The Unclaimed provides expert assistance to complete the transmission process smoothly.
What is Annexure A?
Annexure A is a practical reference table attached to SEBI’s 2022 circular. Its purpose is to standardize the documentation required by Registrars and Transfer Agents (RTAs), listed companies, and depositories for transferring shares after the death of a shareholder.
In simple terms, Annexure A answers the question:
“Which documents are required to transfer shares after the death of a shareholder?”
It categorizes cases based on:
- Whether a nomination exists
- Whether the claimant is a joint holder
- Whether a Will is available
- Whether the claimant is a legal heir
- The market value of securities
Main Concept of Annexure A
The core idea behind Annexure A is to make transmission easier by matching the required documents to the specific facts of the case.
1. Transmission to Surviving Joint Holder
If shares are held jointly and one holder dies, the surviving holder generally needs:
- Death certificate
- Transmission request form
- PAN and KYC documents
2. Transmission to Registered Nominee
If a nominee is registered, the nominee usually submits:
- Death certificate
- Client Master List (demat account details)
- PAN and address proof
- Transmission request form
3. Transmission to Legal Heirs
If no nomination exists, legal heirs may need:
- Legal Heirship Certificate or equivalent certificate
- Succession Certificate, Probate, or Letter of Administration (if applicable)
- Indemnity Bond and Affidavits
- No-Objection Certificates from other heirs
4. Transmission Based on a Will
SEBI clarified that a valid Will is an acceptable document for transmission, subject to supporting declarations and KYC documents.
Why Annexure A is Important
Before this circular, documentation requirements varied among RTAs. Annexure A created a uniform framework, making the process:
- Simpler
- Faster
- More transparent
- Investor-friendly
It also recognizes Legal Heirship Certificates as acceptable documents in many cases, reducing the need for more cumbersome court-issued certificates.
How Claim The Unclaimed Helps
Claim The Unclaimed assists investors with:
- Identifying missing or inherited shares
- Preparing all Annexure A documents
- Coordinating with RTAs and companies
- Completing transmission and recovery end-to-end
Key Scenarios Covered in Annexure A
| Scenario | Documents Generally Required |
| Surviving Joint Holder | Death Certificate, Transmission Request Form, PAN and KYC documents |
| Registered Nominee | Death Certificate, Client Master List, PAN, KYC documents, Transmission Request Form |
| Legal Heirs (No Nominee) | Legal Heirship Certificate, Indemnity Bond, Affidavit, NOCs, KYC documents |
| Transmission Based on Will | Will, Death Certificate, KYC documents, supporting declarations |
FAQs
What is Annexure A in the SEBI circular?
A document checklist that explains which papers are required for different transmission scenarios.
Is a Legal Heirship Certificate accepted?
Yes, SEBI specifically recognizes Legal Heirship Certificates or equivalent certificates as valid documents.
Can shares be transmitted based on a Will?
Yes, SEBI clarified that a valid Will can be used as supporting documentation.
Who can help with transmission of shares?
Claim The Unclaimed provides complete assistance for inherited and unclaimed shares.
Conclusion
Annexure A of SEBI’s May 18, 2022 circular is a standardized guide that simplifies the transmission of shares after the death of a shareholder. By clearly listing the documents required for nominees, joint holders, and legal heirs, it removes uncertainty and helps families recover securities more efficiently. If you need professional support, Claim The Unclaimed can guide you through every step of the process.