What would happen if no nomination is made for the account?
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What would happen if no nomination is made for the account?
In case nomination is not made by the sole account holder, the securities would be transmitted to the account of legal heir(s), as may be determined by an order of the competent court. However in cases where the value of securities to be transmitted is less than Rs. 1,00,000/- the DP may process the request based on submission of necessary letter of indemnity, surety, affidavits and NOC documents.