In terms of SEBI (Listing Obligations and Disclosure Requirements) 2018, probate of will or will has been prescribed as documentary requirement for transmission of securities held in physical mode. With
regard to transmission of securities held in dematerialized mode, the same is dealt in terms of bye laws of the Depositories. In order to harmonize the procedures for transmission of securities in dematerialized mode with that of transmission of securities in physical mode, SEBI vide its Circular No.SEBI/HO/MIRSD/DOP/CIR/P/2019/05 dated 04-01-2019 has decided that for the purpose of transmission of securities held in dematerialized mode, will or probate of will would be accepted.