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SEBI ·

SEBI overhauls securities transmission with Quick Transmission Processing and doubled documentation limits

Registrar and transfer agents and depository-participant transmission teams must apply the new Quick Transmission Processing tier, doubled simplified-documentation limits, and removed PAN/probate requirements when processing deceased-investor claims

Capital Markets Financial Services
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On 19 June 2026, the Securities and Exchange Board of India (SEBI) approved reforms to the securities transmission framework, introducing a Quick Transmission Processing category for claims up to Rs 10 thousand (physical) and Rs 30 thousand (demat), doubling simplified-documentation limits to Rs 10 lakh (physical, per listed company) and Rs 30 lakh (demat, per beneficial owner), and removing the PAN-submission and Probate-of-Will requirements.
Why it matters
The reforms reset the documentation thresholds and evidence rules that registrars and depository participants apply to transmission claims: a combined affidavit-cum-NOC replaces separate documents, QR-code death certificates become eligible, and foreign-jurisdiction death certificates can be verified through overseas branches of Indian banks or correspondent foreign banks. Probate of Will is no longer mandatory, aligned with recent succession-law amendments, and PAN need not be submitted because it is already captured at demat account opening.
Implications
  • — Registrar and transfer agents (RTAs) and depository-participant transmission teams must reconfigure claim-processing workflows to apply the QTP tier and the doubled simplified-documentation limits — continuing to demand prior-threshold documentation or PAN/probate where now removed creates wrongful claim rejections under the revised framework.
  • — RTA and AMC operations teams must accept the combined affidavit-cum-NOC, QR-code death certificates, and the specified foreign-jurisdiction verification modes as valid inputs — rejecting these now-eligible documents is non-conformance with the approved framework.
Who is affected
  • — Registrar and transfer agents (RTAs) processing transmission claims
  • — Depository-participant and AMC transmission operations teams
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