Duplicate and splitting share certificate will be issued only in demat form
Premium- The securities holder, on the event of transaction, should submit duly filled up, which will be hosted on the website of the companies
To enhance ease of dealing in securities markets by investors, SEBI decided that listed companies shall issue the securities in dematerialized form only for transactions including Issue of duplicate securities certificate, claim from unclaimed suspense account, renewal / exchange of securities certificate, endorsement, sub-division / splitting of securities certificate, consolidation of securities certificates/folios, transmission and transposition of shares.
The RTA / Issuer Companies will verify and process the service requests and thereafter issue a ‘Letter of confirmation’ in lieu of physical securities certificate within 30 days of request made.
The ‘Letter of Confirmation’ will be valid for a period of 120 days from the date of its issuance, within which the securities holder shall make a request to the Depository Participant for dematerializing the said securities.
The issuer company shall issue a reminder after the end of 45 days and 90 days from the date of issuance of letter of confirmation, informing the securities holder to submit the demat request as above.
In case the securities holder fails to submit the demat request within the aforesaid period, RTA / Issuer Companies shall credit the securities to the Suspense Escrow Demat Account of the Company.
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SEBI’s circular on this shall come into force with immediate effect.
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