The shareholders are now entitled to make nomination in favour of any person(s) in the prescribed manner to whom the shares shall vest in the unfortunate event of death of the registered holder. The joint holders may together appoint a person as nominee to whom the shares shall vest in the event of death of all the joint holders.
Where the nominee is a minor, the shareholder(s) may appoint a person to become entitled to shares in the event of death of the shareholder(s) during the minority of the nominee.
In the event of death of the registered holder(s), the nominee may elect either to be registered as the holder of the shares or to make transfer of shares as the deceased shareholder(s) could have made.
Please note that if you hold the shares in demat form, you are advised to contact your Depository Participant for nomination/change of nominee or for transmission of shares on the unfortunate death of the registered holder(s).