Individuals, having/opening demat accounts, either, singly or jointly with one or two persons can make nomination. If the shares are held jointly, all the joint holders are required to sign the nomination form.

Non-individuals including societies, trusts, body corporates, Kartas of Hindu Undivided Family, holders of power of attorney cannot make a nomination.

A minor can be nominated only if he is represented by a court appointed/natural guardian.

Trusts, societies, body corporates, partnership firms, Kartas of Hindu Undivided Family or power of attorney holder cannot be appointed as nominee.

Both resident Indians as well as NRIs can nominate an NRI. Similarly, an NRI can nominate a resident Indian or another NRI.

How many nominees can be appointed?

Irrespective of the fact whether securities are held singly or jointly, only one person can be nominated. In the event of the death of the sole BO or all the joint BOs, all rights in the securities held in the demat account will vest with the nominee.