The Depository Participant shall ensure that the documents submitted by the legal heir's or the legal representative's are in order and shall then effect a transfer of the balances to the Client account of the legal heir's or the legal representative(s). After effecting the transmission, the DP shall close the account of the deceased.
The guidelines on process of liquidation of securities in the secondary market & repatriation of sale proceeds of such shares are same that are mentioned above.