Transmission
Market basicsThe process of transferring securities to legal heirs or a nominee after the holder’s death.
In plain terms
Simple with a nomination. Without one, and for a large holding, it can require a court.
1492 terms
Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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InvIT
Market basicsAlso called: Infrastructure Investment Trust
Infrastructure Investment Trust — a listed trust owning operating infrastructure such as roads, transmission lines or pipelines, distributing the income they produce.
In plain terms
Its headline yield is not comparable to a fixed deposit. A concession has a finite life, so part of that generous distribution is your own capital coming back.
Registrar and transfer agent
Market basicsAlso called: RTA
The firm a company appoints to maintain its register of members and to process folio-level requests — dividends, transmission, dematerialisation and corporate action entitlements.
In plain terms
For anything held in physical form this is your counterparty, not your broker. A handful of these firms maintain the registers of most listed Indian companies.
Cross-default clause
Fundamental analysisAlso called: Cross-default
A term defining a default under any other borrowing as a default under this one.
In plain terms
The transmission mechanism that turns one subsidiary's missed payment into a group-wide event, and the reason distress moves so much faster than the underlying deterioration did.