Who can be a nominee?
Only an individual can be a nominee. A nominee shall not be a society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family or a power of attorney holder.

Who can nominate?
Nomination can be made only by individuals holding beneficiary accounts either singly or jointly. Non-individuals including society, trust, body corporate, karta of Hindu Undivided Family, holder of power of attorney cannot nominate.

In the event of death of the sole holder, how the successors should claim the securities lying in the demat account?

The claimant should submit to the concerned DP an application Transmission Request Form (TRF) along with the following supporting documents

1. In case of death of sole holder where the sole holder has appointed a nominee
Notarised copy of the death certificate
2. In case of death of the sole holder, where the sole holder has not appointed a nominee
Notarised copy of the death certificate
Any one of the below mentioned documents -
Succession certificate
Copy of probated will
Letter of Administration
The DP, after ensuring that the application is genuine, will transfer securities to the account of the claimant