Thirty-seven-year-old Manish Sharma (name and professional details changed), an IT professional in Mumbai, lost his father nearly eight years ago due to a disease. When Sharma started going through his investments he realised that the process was not just tedious but there were hurdles galore. The added burden: His father had not named any nominee.

“The documentation process was cumbersome as it required original documents and with my father passing away in a different city, it was difficult,” he said. 

The issues regarding address proof, extracting the original share certificates, allotment letters, and even legal documentation proved to be burdensome. In the absence of any nomination, he had to file a petition in the court at the city of demise to obtain a succession certificate. He then had to approach each company individually where the physical shares were held and submit these documents to get the shares transferred under his, his mother an…