- These changes have come due to a recent review of the regulator, on the procedure followed by the registrars and the issuer companies.
- To claim duplicate securities, security holders have to submit a copy of FIR with details of the securities, folio number, distinctive number range, and certificate numbers However, if the value of securities does not exceed Rs 5 lakh, security holders don’t have to submit FIR.
- If we consider overseas securities holders, apart from FIR, they have to submit a self-declaration of the security certificates lost, and also that copy should be attested by the Indian Consulate or Embassy.
- SEBI has also provided provision for those holders also who lost folio number then RTA will have to provide the same to security holder after matching with their records.
- The security holder will have to first comply with the KYC procedure In case the signature and/or the address do not match. so that he can get the details of the securities.
- This provision will come into effect immediately.
Question:
Q.1 According to New SEBI rules, is the security holder is not required to submit FIR if the value of security doesn’t exceed?a. 3Lakh
b. 4Lakh
c. 5 Lakh
d. 10 Lakh
