Transmission refers to the transfer of ownership of shares from a deceased holder to the following:

• Nominee
• Legal Heir or Legal Representative
• Surviving Joint Holder

1. Transmission to Nominee

When the demat account has a nominee, the transmission process is straightforward. Upon the account holder's death, the nominee must provide:

• Transmission Form (PDF): A duly filled form for initiating the transfer.
• Annexure 1 (PDF): A necessary document for the transmission process 
• Death Certificate: The original, a notarized copy, or one attested by a gazetted officer. 
• Client Master List: Required only if the nominee’s demat account is with a different depository participant. If the account is with Navia, this is not necessary.

2. Transmission to Legal Heir or Legal Representative

If the shares are to be inherited by a legal heir, the following documents are required:

• Transmission Form (PDF): A completed transmission form.
• Annexure 1 (PDF): A necessary document for the transmission process
• Death Certificate: A notarized copy of the death certificate, signed by the claimant(s).
• Succession Certificate: A notarized copy or a court order with signature of the claimant/s if no Will exists. 
• Probate or Letter of Administration: A notarized copy, if applicable.
• Client Master List: Needed if the receiving demat account is with another depository participant. This is not required if the account is with Navia.
• Letter of Indemnity (PDF): Supported by a guarantee from an independent surety, made on non-judicial stamp paper (₹500)
• Affidavit (PDF): Made on non-judicial stamp paper. (₹200)
• No Objection Certificate (PDF): From all legal heirs who do not object to the transmission in stamp paper (₹200). Where there is more than one person, each person has to provide in separate stamp paper. 

3. Transmission to Surviving Joint Holder

When one of the joint account holders passes away, the surviving holders will inherit the securities and funds in the account. To claim the shares, the following documents must be submitted:

• Death Certificate: Original, notarized, or attested by a gazetted officer.
• PAN Copy: Self-attested copy of the surviving account holder(s).
• Bank Proof: Personalized canceled cheque or bank statement/passbook (not older than 3 months) of the surviving joint holder(s), required only if the deceased account has a positive balance.
• Transmission Request: If the request is made within a year, a new demat account is not required. However, if the request is after a year, a separate account must be opened.
• Client Master Report (CMR): A hard copy with the DP seal and signature (not required if the account is held with Navia).

Transmission cum Demat

If a joint holder named in a physical share certificate is deceased, the surviving holders can use the Transmission cum Demat facility. This allows them to delete the deceased holder’s name and dematerialize the securities in a single step.

Points to Note

• Processing Time: Navia requires 7 working days to process transmission with appropriate documents. Legal explanations may take at least 15 days.
• Lock-In Shares: These will be transferred to the successor's NSDL demat account, taking at least 30 days.
• ISIN In-active: The transfer of shares can only proceed if the ISIN is active. If the ISIN is not active, the claimant may alternatively contact the relevant Registrar and Transfer Agent (RTA) 
• Death Certificate: A photocopy or soft copy of a digital death certificate available on a government portal is acceptable. Clients can share the official URL where the death certificate can be accessed.
• Fund Balance: The deceased’s credit fund balance will be transferred to the nominee's or successor’s bank account mentioned in the Client Master Report (CMR). If there is a debit balance, the successor/nominee must provide a cheque to Navia Markets Ltd.
• Name Consistency: The deceased’s name must match the CMR and death certificate. If not, a notarized statement of name mismatch is required.
• Minor Successor/Nominee: If the nominee/successor is a minor, a guardian certificate is required for the guardian's signature. This is not necessary if the minor already has an account with Navia.