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Securities and Exchange Board of India (SEBI) vide notification no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8 dated 25th January, 2022, in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market read with Regulation 101 of SEBI (Listing Obligations and Disclosure Requirements), 2015, has issued a notification on Issuance of Se
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FAQ :
The main change is that listed companies must now issue securities only in dematerialised form when processing investor service requests, such as duplicate certificates or claims.
The circular came into effect immediately from 25th January 2022.
Registrars to an Issue and Share Transfer Agents (RTAs) or issuer companies will issue a 'Letter of Confirmation' in lieu of physical certificates after processing the request.
The 'Letter of Confirmation' is valid for 120 days from its issuance date.
The securities holder or claimant must use the 'Letter of Confirmation' to request their depository participant to dematerialise the securities within the 120-day validity period.
If the demat request is not submitted within the specified period, the securities will be credited to the Suspense Escrow Demat Account of the Company.
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