The Securities and Exchange Board of India vide its notification dated 25th January 2022 has directed the listed entities to issue the securities in dematerialised form only while processing the service request from investors in order to enhance the ease of dealing in securities market.
These request from investors include issue of duplicate securities certificate, claim from unclaimed suspense account, renewal/exchange of securities certificate, endorsement, splitting of securities certificate, consolidation of securities certificates or folios, transmission and transposition.
Securities holder/claimant shall submit duly filled up Form ISR-4. The RTA/Issuer Companies shall obtain the original securities certificate(s) for processing of service requests.
Further the RTA/Issuer Companies shall verify and process the service requests and thereafter issue a ‘Letter of confirmation’ in lieu of physical securities certificate(s), to the securities holder/claimant within 30 days.
The Letter of Confirmation’ shall be valid for a period of 120 days from the date of its issuance and the RTA/Issuer Companies 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/claimant to submit the demat request.
