CS Lalit Rajput
Quick Summary
In order to to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, Securities and Exchange Board of India (SEBI) on notification no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/70 dated 25th May,2022 has released issued a circular after
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FAQ :
The circular aims to protect investors' interests and simplify the procedure and formats for issuing duplicate securities certificates.
Requirements include a copy of an FIR or police complaint, an advertisement regarding the loss of securities, and an affidavit and indemnity bond. A surety is no longer required.
Yes, if the value of securities does not exceed £5 Lakhs on the date of application, there are relaxations in the requirements.
Overseas investors can provide a notarised/apostilled/attested self-declaration of lost certificates, along with passport and address proof.
The RTA can provide these details if the security holder's signature and address match their records. Otherwise, KYC procedures must be completed first.
Duplicate securities will be issued only in dematerialised mode.
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