NOMINAL TRANSFER

Nominal transfer is the transfer of unlisted public securities between a transferor and transferee who are related or connected parties with no exchange of money or consideration for the transfer. It could also be a transfer from one nominal to another, resulting in a debit on one nominal and a credit on the other. 
Nominal transfer can be used for transferring assets that have been accidentally posted to wrong nominal, or for posting double-sided journals between nominals.

For the more understanding of the NSE new rules regarding the nominal transfer, we hereby highlight some of the terms used in it.
Transferor: Is the person or corporate entity with title or ownership in the unlisted public securities to be transfer red.
Transferee: Is the person or corporate entity to whom title or ownership in the unlisted public securities is to be transferred.
Settlor: Is the person who creates the trust by placing a certain asset that he/she owns into the trust for the benefit of a third party.
The trustee: Is the person who holds the assets for the benefit of the beneficiary.

The beneficiary: Is the third party for whose benefit and profit the trust asset is held and managed by the trustee.
Indemnity: Is a contractual obligation of one party(indemnitor) to compensate the loss occurred to the other party(indemnitee) due to the act of the indemnitor.

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