Question: Can a company, trust, or partnership firm nominate someone for mutual fund units?
Answer: No. SEBI’s mutual fund rules allow nomination only by individuals.

Supporting evidence:
title: sebi.gov.in/1768571780322.pdf
quote: The nomination can be made only by individuals applying for/holding units on their own behalf singly or jointly. Non-individuals including society, trust, body corporate, partnership firm, karta of Hindu undivided family, holder of Power of Attorney cannot nominate
context: uired by the trustees or Board; ) the trustee shall have the power to dismiss the asset management company under the specific events only with the approval of the Board in accordance with the
- ( xi Regulations.
357 [***]

FORM FOR NOMINATION/CANCELLATION OF NOMINATION

Signature of the guardian: .................................................................................................. ........................
(* to be deleted if not applicable)
Unitholder(s)
- (1) Signature : .................................................

Instructions

1. The nomination can be made only by individuals applying for/holding units on their own behalf singly or jointly. Non-individuals including society, trust, body corporate, partnership firm, karta of Hindu undivided family, holder of Power of Attorney cannot nominate. If the units are held jointly, all joint holders will sign the nomination form. Space is provided as a specimen, if there are more joint holders more sheets can be added for signatures of holders of units and witnesses.
2. A minor can be nominated and in that event, the name and address of the guardian of the minor nominee shall be provided by the unitholder.
[Nomination can also be in favour of the Central Government, State Government, a local authority, any person designated by virtue of his office or a religious or charitable trust.]
3. The Nominee shall not be a trust, [ other than a religious or charitable trust , ] society, body corporate, partnership firm, karta of Hindu undivided family or a Power of Attorney holder. A non-resident Indian can be a Nominee subject to the exchange controls in force, from time to time.
4. Nomination in respect of the units stands rescinded upon the transfer of units.
5. Transfer of units in favour of a Nominee shall be valid discharge by the asset management company against the legal heir.
6. The cancellation of nomination can be made only by those individuals who hold units on their own behalf singly or jointly and who made the original nomination.
7. On cancellation of the nomination, the nomination shall stand rescinded and the asset management company shall not be under any obligation to transfer the units in favour of the Nominee.*]
Name : ................................……………………………
Address : .............................................…………….

Instructions

Date : ...................................................……………
- (2) Signature : ....................................................……………