SEBI proposes easier ways to claim deceased person's stocks
SEBI is looking to cut down the paperwork and hassle for families trying to claim stocks or securities after someone passes away.
The regulator's new proposals would let heirs use simpler documents for smaller claims, and even bring in online forms and faster processing.
SEBI is open to public feedback on these changes until April 2.
What are the proposed changes?
If you're claiming up to ₹10 lakh (physical) or ₹30 lakh (demat), intermediaries may accept simplified documents — for example, a notarised indemnity bond together with an NOC from other legal heirs, or a family settlement deed;
very small claims under the proposed STP route require still fewer documents. For bigger amounts, it's still the usual legal paperwork.
Plus, nominees can get tax-free access by submitting just four key documents.
A smoother process
It means less stress for families during tough times and a much smoother process overall.
SEBI's proposals and new procedures aim to simplify transmission for both physical and dematerialised holdings, which may make it easier for families to claim old physical certificates.