The Securities and Exchange Board of India (SEBI) on December 24, 2025, issued a circular regarding the Ease of doing investment - Review of simplification of procedure and standardization of formats of documents for issuance of duplicate certificates.
SEBI, through its circular dated May 25, 2022, read with Para 22 of the Master Circular for RTAs dated June 23, 2025, had laid down procedures, documentation, and thresholds for issuance of duplicate securities.
To further simplify and make the process more investor-friendly, SEBI has reviewed and revised these requirements. The key changes include:
• Increase in threshold for simplified documentation from ₹5 lakh to ₹10 lakh.
• Simplification of documentation by:
o Introducing a standardised Affidavit-cum-Indemnity bond;
o Rationalising documentation for securities valued above ₹10 lakh; and
o Removing notarisation requirements for the Affidavit-cum-Indemnity bond in cases where the value of securities is up to ₹10,000.
• All duplicate securities will be issued only in dematerialised form, supporting increased dematerialisation.
• Listed companies and RTAs must process requests strictly as per the revised procedure.
• The circular is effective immediately and also applies to ongoing cases, without requiring resubmission of documents already provided by investors.
These measures aim to enhance ease of investment and ensure quicker restoration of investor rights.
[Circular No. HO/38/13/11(3)2025-MIRSD-POD/I/1102/2025]
