No, continue to do transactions in a deceased person's SS Corporate account is not legal.

Even after the account holder's death, family or legal heirs of deceased clients may continue to conduct transactions in the account. Although it may appear to be a practical solution, it is not permitted by law. It could result in fines under the Indian Penal Code, which was enacted in 1860.

This limitation applies to all transactions in a deceased person's account, including market and off-market transactions such as gifts and DIS slips.

Instead, it is recommended that nominees and/or legal heirs of account holders notify us as soon as possible if an account holder passes away.

The account is frozen after we get the required information about the account holder's death and the process for transferring the securities to the nominees and/or legal heirs begins. This procedure could take up to 15 days to complete.

Please keep in mind that any discrepancies between the date on the death certificate and the record of transactions in the deceased's SS Corporate account may cause the transmission process to be delayed owing to extra examination. We may even be obligated to disclose such transactions to the appropriate authorities if any significant discrepancies are discovered. Please stay away from this at all costs.