Ease of doing investment – Review of simplification of procedure and standardization of formats of documents for issuance of duplicate securities certificates

The Securities and Exchange Board of India (“SEBI”) has issued a draft circular on the simplification of procedure and standardization of formats of documents for issuance of duplicate securities certificate and inviting public comments for the same by 16th December 2025. The draft circular seeks to enhancing the ease of doing business and increasing the participation of investors by simplifying the documentation procedure and reduce the cost of obtaining duplicate securities.

Key Proposals:  

1. To simplify the documentation procedure, the limit of the securities value will be increased from Rs. 5 lakhs to Rs. 10 lakhs.
2. In cases where the value of securities does not exceed Rs. 10 lakhs the security holder must submit an Affidavit-cum-Indemnity bond, in the appropriate format prescribed by the Board, on a non-judicial stamp paper of appropriate value as prescribed by the Stamp Act of the claimant’s state of residence.
3. To rationalize the documents for securities having value more than Rs. 10 lakhs, in the manner prescribed:
   1. The claimant must submit a copy of the FIR including e-FIR/police complaint/Court Order/copy of plaint, containing the details of the securities, folio number, distinctive number range, and certificate numbers, along with the Affidavit-cum-Indemnity bond.
   2. The listed entities must issue an advertisement regarding loss of securities in a widely circulated newspaper.

The comments/suggestions may be provided through the following modes:

1. Online Submission: Comments can be submitted through SEBI’s web-based public comments form: Click here to provide comments
   
2. Email Submission: In case of technical issues, comments can be emailed with the subject “Ease of doing investment – Review of simplification of procedure and standardization of formats of documents for issuance of duplicate securities certificates” to consultationMIRSD@sebi.gov.in

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Source: Securities and Exchange Board of India