(SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB /P/CIR/2022/70 dated May 25, 2022 read with SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8 dated Jan 25, 2022)
  1. The securities holder shall submit duly filled up Form ISR-4 as per the format prescribed by SEBI along with:
    • A copy of FIR including e-FIR/Police complaint/Court injunction order/copy of plaint (where the suit filed has been accepted by the Court and Suit No. has been given),  giving details of the securities, folio number, distinctive number range and certificate numbers;
    • Advertisement issued regarding loss of securities in a widely circulated newspaper ;
    • Affidavit (Form A); and
    • Indemnity bond (Form B) as per the format prescribed by the SEBI.

No requirement to submit FIR & advertisement, if the value of securities as on date of submission of application along with complete documentation as prescribed by SEBI does not exceed Rs. 5 Lakhs.

  1. After verifying and processing the request, the RTA / Issuer Companies shall intimate the security holder about its execution as may be applicable, within 30 days of the receipt of such request, by way of issuing a Letter of Confirmation (Form C) (Duplicate securities shall be issued in dematerialized mode).
    • For issuance of duplicate securities, the RTA shall retain the physical securities as per the existing procedure and deface the certificate with a stamp “Letter of Confirmation Issued” on the face / reverse of the certificate, subsequent to processing of service request.
  2. LOC shall be valid for period of 120 days from the date of its issuance, within which  the  securities  holder/claimant shall make a request to the Depository Participant for dematerializing the said securities
    • The Letter of Confirmation shall contain details of folio and de-mat account number (if available) of the security holder.
    • The Letter of Confirmation shall be sent by the RTA / Issuer Companies through Registered / Speed Post or by e-mail with e-sign and / or digital signature.
  3. Within 120 days of issue of the Letter of Confirmation, the claimant(s) shall submit the de-mat request, along with the Letter of Confirmation, to the Depository Participant (“DP”).
    • The RTA / Issuer Companies shall issue a reminder after the end of 45 days and 90 days from the date of issuance of the Letter of Confirmation, informing the claimant(s) to submit the de-mat request as above, in case  no such request has been received by the RTA / Issuer company.
  4. DP shall generate the de-mat request on the basis of the Letter of Confirmation and forward the same to the Issuer Company / RTA for processing the de-mat request.
    • In case of the securities which are required to be locked in, the RTA while approving / confirming the de-mat request, shall incorporate / intimate the Depository about the lock-in and its period.
  5. In case of non-receipt of de-mat request from the security holder within 120 days of the date of issue of the Letter of Confirmation, the securities shall be credited to Suspense Escrow De-mat Account of the Issuer company.

Important Notes:

  1. No requirement of submission of surety for issuance of duplicate securities,
  2. In case of non-availability of Certificate Nos./Distinctive Nos./ Folio nos., the RTA (upon written request by the security holder) shall provide the same, to the security holder only where the signature and the address of the security holder matches with the RTA / listed company’s records.
  3. In case the signature and/or the address do not match, the security holder shall first comply with the KYC procedure and then only the details of the securities shall be provided to the security holder by the RTA/listed company.
  4. Fake / forged / stolen certificates must be seized and defaced by the RTA / listed company and disposed of as per BOD of the Company.
  5. Defaced certificate shall be kept in custody of the Company/ RTA and disposed of in the manner as authorized  by the BOD the company
  6. The listed company shall take insurance policy from the insurance company towards the risk relating to issuance of duplicate securities.
  7. The value of the securities to be calculated 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.
  8. An overseas securities holder, in lieu of FIR can provide self-declaration of the security certificates which shall be duly notarized/ apostilled/ attested by the Indian Consulate / Embassy in their country of residence, along with self-attested copies of valid passport and overseas address proof.

Various situations and procedures w.r.t. mismatch in signature, address, name, updation/ change/ registration of KYC details etc.

Situation A: If signature and/or the address do not match then:

  1. Minor mismatch in signature:
    • In case of minor mismatch in the signature of the securities holder as available in the folio of the RTA and the present signature, the RTA, while processing the service request, shall  intimate  the  holder  by  Speed  post about  the minor mis-match  in  signature,  providing  timeline  of  15  days  for raising objection, if any. In the absence of any objection, the service request shall be processed.
    • If the letter returns undelivered or if there is an objection, as aforesaid, the RTA shall obtain signature verification by the banker before proceeding the service request.   
  2. Major mismatch in signature or Signature Card is not available:
    • In case of major mismatch in the signature of the holder as available in the folio of the RTA and the present signature or if the same is not available with the RTA, then the holder / claimant shall furnish original cancelled cheque and banker’s attestation of the signature as per Form ISR-2.
  3. Mismatch in name:
    • For minor mismatch in name between any two set of documents presented by holder / claimant for any service request, the RTA shall additionally obtain any one of the following documents, explaining the difference in names; 
      • Unique Identification Number (UID) (Aadhar)
      • Valid Passport
      • Driving license in smart card form, book form or copy of digital form is accepted
      • PAN card with photograph
      • Identity card / document with applicant’s Photo, issued by any of the following:   Central   /   State   Government   and   its   Departments, Statutory / Regulatory Authorities, Public  Sector  Undertakings, Scheduled Commercial Banks, Public Financial Institutions.
      • Marriage certificate
      • Divorce decree
    • The  existing  norms of  the  Depositories, to  process  de-mat  request  where there is a minor mis-match on account of initials not being spelt out fully, or put after or prior to surname, provided the signature in the De-mat Request Form (DRF) matches with the signature card with the RTA, shall continue to be in force
  4. Address not available or mismatch in address
    • The RTA shall obtain any one of the following documents from the holder/ claimant, if the address is not available in the folio or for processing the request for its change;
      • Valid Passport/ Registered Lease or Sale Agreement of Residence/ Driving License/ Flat Maintenance bill.
      • Utility bills like Telephone Bill (only land line), Electricity bill or Gas bill -Not more than 3 months old.
      • Identity card / document  with  address,  issued  by  any  of  the  following: Central/State  Government  and  its  Departments,  Statutory  /  Regulatory Authorities,  Public  Sector  Undertakings,  Scheduled  Commercial  Banks, Public Financial Institutions
      • For FII / sub account, Power of Attorney given by FII / sub-account to the Custodians (which are duly notarized and / or apostilled or  consularised) that gives the registered address should be taken.
      • The proof of address in the name of the spouse.
      • Client  Master  List  (CML) of  the De-mat  Account  of  the  holder  / claimant, provided by the Depository Participant.
    • RTA shall forthwith send intimation about the request for change in address to the holder at both the old and new addresses by Speed post, providing, timeline of 15 days for raising objection, if any.
    • In case the signature matches with the record available with the RTA, the request for change in address can be processed without keeping it on hold for 15 days.
    • In case where the letter is undelivered at the old address, RTA shall not  insist  for  any  proof  of  the old  address provided  the current address  proof  is  in  the  form  of an address  proof  issued  by a Government Authority

Reference: However, common norms stipulated in SEBI Circular SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 03, 2021 and SEBI Circular SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/687 dated December 14, 2021 pertaining to updating of PAN, KYC details and Nomination details of shareholders shall also be applicable for service requests for issuance of duplicate securities.