A person died in covid times, the family members never knew where all he had invested, suddenly this year family got a cheque for dividend for some share the dead person was holding…
How can the family find out where the demat account is? what shares he was holding… the only reference the family has is the folio number on the dividend cheque…
How to go about this? remember the investments would have done far in past considering the dividend coming via check so nomination and KYC feels like out of question…
If you got a cheque for dividends it most likely that he held physical share certificate otherwise dividends would be credited directly to his bank ac.
Using the folio number you can write to the company and ask if the share physical or dematerialised.
Other option of sending dividend cheque could be that the ac he had mentioned must have bern closed and direct trfs not possible. This is only conjecture but asking the company with folio number can be the start point.
Do you know the bank accounts this person has. If so ask them to get bank statement review the transactions you may find transfer to a broker. Once a broker is traced you could ask them to enquire using his pancard if he has an account. It is far fetched but you could try to see the transaction
There are only two depository in india nsdl and cdsl. If you have his pan number write to them asking these depositories if they can retrieve any investments using pan number
Again the person who is writing to them should be a authorised person and must have his/her death certificate or succession certificate.
These are my personal thoughts. I am not an expert in thus line and not sure if nsdl or cdsl will reply. But you can try
This is the sad truth. We struggle to save and invest but dont tell family members where we save and then one fine day nobody knows where is kept what. There are thousands of unclaimed bank deposits and i am sure we take insurance policies but dont tell the beneficiary. What a waste
I truly hope and pray the family can retrieve this info
IF the folio no has only 4-6 numbers it is a physical share but if it has 16 numbers it is CDSL dp and if it has IN with 14 numbers it is nsdl dp . most likely it has to be physical share .
do a search and if you can not find the share certificate write to the registrar asking for formalities of duplicate share certificate cum transmission of shares. it will be a long , expensive and tedious process .
To access Income Tax portal incase he is a tax payer and get the AIS data. This will show returns he/she received from various sources. If TDS is deducted, bank name will also be mentioned.
She also told me that every area as a Income Tax circle or office (something of this sort) so the next of kin can go with all relevant docs and tell them what they are looking for. Probably they might help in retrieving the data from pan card in case the family cannot access income tax portal.
Thanks for all your help, it was just found that broker was Sharekhan with just those share for which dividend was received, interestingly the account is suspended but cant find any DP id from them…
Wonder talking to them and selling the shares would be the best option