MCA and IEPFA has simplified the process of claiming settlement of amount for claimants and companies by exempting them from various documentation:

Documents exempted for Claimants:

  • Advance Receipt
  • Succession Certificate/ Probate of Will/ Will has been relaxed up to Rs 5,00,000 (five lakh) both for Physical & DEMAT shares
  • Self-attestation has replaced the notarization of documents

Documents exempted for Companies:

  • Newspaper Advertisement requirement for loss of physical Share Certificate has been waived off up to an amount of Rs.5,00,000.

Given the flexibility to accept transmission documents viz. Succession Certificate, Will, etc for Unclaimed Suspense Account.

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