SEBI has proposed a streamlined framework to accelerate claim settlements for legal heirs of deceased investors, reducing paperwork and raising thresholds for simplified documentation.
Risk-Based Claim Tiers
For low-value claims under Straight Through Process (STP) limits—₹10,000 for physical securities and ₹30,000 for demat—heirs need only a transmission form, client master list (CML), death certificate, ID proof, and undertaking. Simplified cases up to ₹10 lakh (physical) or ₹30 lakh (demat) require added indemnity bonds or NOCs from other heirs.
Nominee and High-Value Rules
Nominees submit minimal documents including attested CML and death certificate for quick transmission. Larger claims demand succession certificates, wills with bonds, or legal heirship affidavits to ensure rightful transfer without disputes.
Standardized Procedures
Intermediaries must provide uniform online/offline forms, acknowledge submissions promptly, and flag missing documents early, easing the process amid rising demat asset values.
