Simplification and Standardisation of the Framework for Transmission of Securities, July 23, 2026

SEBI has revised the framework for transmission of listed securities and Mutual Fund units following the death of the sole holder or all joint holders. The revised framework, issued under Regulation 40(7) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, introduces a harmonised, standardised and risk-based process across listed companies, RTAs, Depositories, Depository Participants (“DPs”) and AMCs.

QTP and Simplified Documentation Thresholds

A new Quick Transmission Processing (“QTP”) category has been introduced for very low-value claims, alongside revised thresholds for the simplified documentation process:

*For securities held in physical mode, the listed entity may, at its discretion, enhance the ₹10 lakh threshold.

Standardised Documentation Requirements

The framework also standardises documentation requirements. Key changes include:

• Removal of the mandatory requirement for Probate of Will in the relevant transmission process.
• Acceptance of a combined affidavit-cum-No Objection Certificate (“NOC”).
• Acceptance of death certificates containing QR codes.
• Additional verification methods for death certificates issued in foreign jurisdictions.

Importantly, Probate of Will, Succession Certificate, Letter of Administration and Court Decree continue to be recognised as relevant documents in cases falling outside the simplified framework.

Effective Date and Transition

The revised framework will come into force 30 days from July 23, 2026. Processing entities are encouraged to apply the revised framework to requests received before the effective date where possible.

Additional obligations for processing entities include:

• They cannot require investors to resubmit documents merely because the prescribed format has changed.
• They are required to submit monthly reports to SEBI for six months covering transmission cases processed under the QTP, simplified and above-threshold categories.

Key Takeaway

The revised framework is expected to reduce documentation and processing burdens for transmission claims, particularly low-value claims, while standardising procedures across market intermediaries.

Last Updated on 21 August, 2026