Aim: To protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Result/Impact: Following changes are made in the process:
- No requirement of submission of surety for issuance of duplicate securities
- No requirement to submit FIR and advertisement, if the value of securities as on the date of submission of application, along with complete documentation as prescribed by the Board does not exceed Rs. 5 Lakhs (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, 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 passport and overseas address proof.
RTA can provide certificate details (if not available with security holder) upon written request of shareholders