Issuance of Securities in dematerialised form in case of Investor Service Requests

SEBI vide circular dated 22nd January, 2022, has provided that listed companies/RTA shall be issuing securities only in dematerialized form, while processing the following investor’s service requests:

  1. Issue of duplicate securities certificate;
  2. Claim from Unclaimed Suspense Account;
  3. Renewal / Exchange of securities certificate;
  4. Endorsement;
  5. Sub-division / Splitting of securities certificate;
  6. Consolidation of securities certificates/folios;
  7. Transmission;
  8. Transposition

The shareholder/claimant shall have to file an aforesaid request with the company/RTA in form ISR-4, which shall be further processed by the company/RTA. Company/RTA shall issue letter of confirmation in 30 days of receipt of request, which shall be valid for 120 days. In such 120 days, claimant/shareholder is required to make a request to depository participant (DP) for dematerialization of securities, failing which the securities shall be credited to Suspense Escrow Account of the Company.

The circular provides operational guidelines for dematerialization of securities received for processing the investor’s service request which has brought uniformity in processing the investor’s requests and dematerialization of securities across all the companies/RTAs in the Country.