The Securities and Exchange Board of India (SEBI) has made it easier and more investor-friendly to obtain duplicate securities certificates. SEBI has raised the monetary threshold for the simplified documentation process from Rs 5 lakh to Rs 10 lakh, reducing the paperwork required for investors with lost or damaged securities valued up to Rs 10 lakh.
This change aims to streamline the process, minimize compliance issues, and standardize documentation practices across companies and registrar and transfer agents (RTAs). SEBI has introduced a standard Affidavit-cum-Indemnity Bond format and simplified the documentation requirements for securities valued above Rs 10 lakh.
To further assist small investors, notarization of the Affidavit-cum-Indemnity Bond is no longer mandatory for securities valued up to Rs 10,000. Investors holding securities worth up to Rs 10 lakh will only need to submit the standard Affidavit-cum-Indemnity Bond on appropriate non-judicial stamp paper.
Under the revised rules, investors with securities valued up to Rs 10,000 can submit an undertaking on plain paper. For holdings exceeding Rs 10 lakh, additional documents such as a copy of the FIR, police complaint, court order, or plaint specifying the lost securities’ details will be required.
