Simplification of procedure and standardization of formats of documents for issuance of duplicate securities certificates
Summary
This circular simplifies the procedure and standardizes formats for issuing duplicate securities certificates to enhance investor friendliness. It mandates that duplicate securities be issued only in dematerialized mode and outlines specific documentation requirements based on security value. The document also establishes operational guidelines for RTAs and issuers, including timelines for processing requests and handling unclaimed securities. The document outlines solemn declarations and indemnities required for issuing duplicate securities, including undertakings not to deal with recovered original certificates. It mandates that all securities issued via investor service requests must be in dematerialized form, referencing specific SEBI notifications from 2022. The text concludes with a request form (ISR-4) detailing mandatory documents like PAN and Demat account information for processing these requests. This section outlines the specific services available for securities certificates, including issuance of duplicates and transmission. It requires security holders to provide detailed issuer information and enclose original certificates for certain requests like replacement or co
Text
procedure and documentation requirements for issuance of duplicate securities has been further simplified.
Submission by the security holder of copy of FIR including e-FIR/Police complaint/Court injunction order/copy of plaint... necessarily having details of the securities, folio number, distinctive number range and certificate numbers.
Issuance of advertisement regarding loss of securities in a widely circulated newspaper
Submission of Affidavit and Indemnity bond as per the format prescribed by the Board.
There shall be no requirement of submission of surety for issuance of duplicate securities
There shall be no requirement to comply with Para 2.1 and 2.2 of this circular, if the value of securities... does not exceed Rs.5 Lakhs.
The applicant shall quantify the value of the securities on the basis of the closing price of such securities at any one of the recognized stock exchanges a day prior to the date of such submission in the application.
An overseas securities holder... shall be permitted to provide self-declaration of the security certificates lost/misplaced/stolen which shall be duly notarized/ apostilled /attested... along with self-attested copies of valid passport and overseas address proof.
In case of non-availability of Certificate Nos./Distinctive Nos./ Folio nos., the RTA... shall provide the same... only where the signature and the address of the security holder matches with the RTA / listed company’s records.
Fake / forged / stolen certificates or certificates where duplicate certificate is issued, must be seized and defaced by the RTA / listed company and disposed of in the manner, authorized by the Board of the Company.
Defaced certificate shall be kept in custody of the Company/ RTA and disposed of in the manner as authorized by the Board of the Company.
The listed company shall take special contingency insurance policy from the insurance company towards the risk arising out of the requirements relating to issuance of duplicate securities...
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Source: SecMarx — Simplification of procedure and standardization of formats of documents for issuance of duplicate securities certificates. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.