Gurpurub Offer - GURPURUB24

Join Here

SEBI Simplifies the Procedure for Issuance of Duplicate Securities

Published on May 26, 2022
Current Context: Market regulator the Securities and Exchange Board of India (Sebi) has simplified the procedure for issuing duplicate securities which provide a hassle-free experience and is investor-friendly.
SEBI Simplifies the Procedure for Issuance of Duplicate Securities
  • 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
ebook store

About Me

Ramandeep Singh

Ramandeep Singh - Educator

I'm Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and over 5000 successful selections, I understand the path to success firsthand, having transitioned from Dena Bank and SBI. I'm passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu