The Securities & Exchange Board of India (SEBI) issued a circular revising the process and document formats that listed companies and registrars to an issue and share transfer agents (RTAs) must follow when issuing duplicate securities certificates, with the aim of simplifying and standardising investor documentation. The update increases the threshold for “simplified documentation” to INR 10 lakh from INR 5 lakh. For claims up to INR 10 lakh, investors must submit a standardised Affidavit-cum-Indemnity bond in SEBI’s prescribed format on non-judicial stamp paper, while claims up to INR 10,000 can be supported by an undertaking in the same format on plain paper and without notarisation. For claims above INR 10 lakh, the claimant must additionally provide a copy of an FIR or e-FIR, police complaint, court injunction order, or copy of plaint (where accepted by the court and assigned a suit number) containing details including folio number, distinctive number range and certificate numbers; the listed company must also publish a weekly loss-of-securities advertisement in a widely circulated newspaper where its registered office is located, with processing timelines running from the later of complete documentation submission or newspaper publication. Duplicate securities issued under the process will be in demat mode. The revised requirements apply with immediate effect and also to ongoing duplicate issuance requests under process, although companies and RTAs are not to require re-submission of documents already provided by the investor.
Securities & Exchange Board of India 2025-12-24
Securities & Exchange Board of India simplifies duplicate securities certificate issuance and lifts simplified documentation threshold to INR 10 lakh
The Securities & Exchange Board of India (SEBI) has revised the process for issuing duplicate securities certificates, raising the "simplified documentation" threshold to INR 10 lakh from INR 5 lakh. Claims up to INR 10 lakh require a standardised Affidavit-cum-Indemnity bond, while claims up to INR 10,000 need only an undertaking on plain paper. For claims above INR 10 lakh, additional documentation such as an FIR or court order is required, and companies must publish a weekly loss-of-securities advertisement.