Key simplifications and revised thresholds:
SEBI has reviewed and further simplified the procedure for issuance of duplicate securities certificates to enhance ease of doing investment. The threshold for availing simplified documentation has been increased from ₹5 lakh to ₹10 lakh. A standardised Affidavit-cum-Indemnity format has been prescribed, documentation for cases exceeding ₹10 lakh has been rationalised, and notarisation has been dispensed with for cases involving securities up to ₹10,000. All duplicate securities will be issued only in dematerialised form, aiding faster restitution of investor rights and promoting dematerialisation.
Applicability, documentation matrix and timelines:
Listed companies and RTAs must process all duplicate certificate requests strictly as per the revised procedure, which is effective immediately and also applicable to ongoing cases (without requiring resubmission of documents already filed). For securities up to ₹10 lakh, only the Affidavit-cum-Indemnity is required (plain paper undertaking for value up to ₹10,000); for securities above ₹10 lakh, additional documents such as FIR/e-FIR or court records and newspaper advertisement by the company are mandated. The revised provisions substitute Para 22.1.1 to 22.1.4 of the RTA Master Circular to ensure uniform, investor-friendly and time-bound processing.
