SEBI Fast Tracks Small Value Claim - Rules Eased for Share Transfer After Death
SEBI has simplified and standardised the framework for transmission of securities following the death of an investor to make the process faster and more investor-friendly. The revised framework introduces Quick Transmission Processing (QTP) for low-value claims, increases the thresholds for simplified documentation to Rs. 10 lakh for physical holdings and Rs. 30 lakh for dematerialised holdings, removes the mandatory requirement of probate of a will, replaces multiple affidavits with a single affidavit-cum-No Objection Certificate (NOC), permits QR code-enabled death certificates for verification, and expands the list of acceptable verification methods for foreign-issued death certificates. These measures aim to reduce paperwork and facilitate quicker transfer of securities to legal heirs.
