The transmission process for NRIs inheriting financial assets in India has become simpler following the Securities and Exchange Board of India's (SEBI) latest transmission framework introduced on 23 July 2026. According to reports from Mint, the revised framework aims to simplify and standardise the process across listed companies, registrars, depositories and mutual funds. Under the new framework, transmission requests are expected to be processed within 21 calendar days once all required documents are submitted. However, experts caution that regulatory timelines are rarely the main bottleneck for NRIs, with overseas documentation requirements often causing significant delays.
The first step involves identifying all financial assets left behind, including demat accounts, mutual fund folios and bond holdings. As reported by Mint, experts recommend obtaining a Consolidated Account Statement (CAS) to locate most investments, while physical share certificates and bond documents should also be traced. Mutual funds with a nominee are generally transmitted within 7-15 working days, while listed shares in demat form typically take 15-30 working days. However, where there is no nominee and transmission is based on a Will or succession certificate, the process can extend from two months to six months or even longer in complex cases.
Experts identify incomplete or inconsistent documentation as the biggest reason for delays. According to reports from Mint, one of the most common issues is a mismatch in names across PAN, demat accounts, mutual fund folios and death certificates. Other frequent hurdles include missing or outdated KYC records, unattested foreign documents, signature mismatches, missing No-Objection Certificates from other legal heirs, and lost physical share certificates. For NRIs, foreign documents generally need notarisation and apostille before they are accepted in India, with many applications rejected simply because documents were self-attested when notarisation or apostille was required.
While a registered Will can significantly reduce disputes among legal heirs and provides greater clarity on the deceased's intentions, experts recommend maintaining both a registered Will and updated nominations across demat accounts, mutual funds and other financial assets. As reported by Mint, SEBI has removed the mandatory requirement of probate for transmission under its revised framework, making the process easier than before. The combination of a registered Will and updated nominations can significantly reduce paperwork and help NRI heirs access inherited investments with fewer delays.
