Dematerialising physical shares inherited from a deceased person involves a specific process to ensure the transfer of ownership is legally and correctly documented. Here’s a detailed guide on how to handle this process with 5paisa:

 

Step 1: Open a Demat Account with 5paisa:

   If you do not already have a demat account, the first step is to open one with 5paisa. This will be the account where the dematerialised shares will be credited.

 

Step 2: Submit a Dematerialisation Request Form (DRF):

   - Obtain the DRF: Contact 5paisa to obtain the Dematerialisation Request Form.

   - Fill in the Details: Complete the DRF with all required details.

   - Include Security Certificates and Required Documents: Attach the original share certificates and any other required documents to the DRF.

 

Step 3: Transmission-Cum-Demat Request:

   - Transmission-Cum-Demat Form: Submit a Transmission-Cum-Demat Form to 5paisa along with the DRF. This form is essential for processing the transfer and dematerialisation of shares inherited from a deceased person.

 

Step 4: Notarised Death Certificate:

   - Submit Death Certificate: A notarised copy of the deceased person’s death certificate must be enclosed with the DRF and Transmission-Cum-Demat Form.

 

Step 5: Ensure Correct Registration of Security Certificates:

   - Verification by DP: 5paisa will ensure that the security certificates are registered in the names of the clients (inheritors) along with the name of the deceased, in the same order as on the client account.

 

Step 6: Processing by the DP:

   - Submission to Issuer/RTA: 5paisa will forward the documents to the issuer or its Registrar and Transfer Agent (RTA) for further processing.

   - Name Deletion and Dematerialisation:  The issuer or RTA will verify the documents and, once satisfied, will delete the deceased's name and process the dematerialisation request concurrently.

 

Contacting the Registrar and Transfer Agency (RTA)

 

Before dematerialising inherited shares, the name in the company’s records needs to be updated to match the inheritor’s demat account. This involves contacting the RTA. Follow these steps to find the relevant RTA:

1. Visit NSE India or BSE India: Go to https://www.nseindia.com or (https://www.bseindia.com.
2. Search for the Share's Name:  Enter the name of the share in the search bar.
3. Access Corporate/Company Information: Click on “Corporate Information” or “Company Information” to find the details of the RTA associated with the company.

 

Additional Steps for Joint Holders

If a joint holder of a share passes away, the surviving holder(s) can dematerialise the physical shares into their demat account by following these steps:

 

Documents Required:

• Dematerialisation Request Form: As detailed above.
• Notarised Death Certificate: A notarised copy of the death certificate of the deceased holder.
• Transmission-Cum-Dematerialisation Form: The form required for processing the transfer and dematerialisation of shares from a deceased joint holder.