SEBI provides guidelines for dematerialization of securities while processing specified investor’s service request.
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- Last Updated on 28 January, 2022
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Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8, Dated: 25.01.2022
SEBI has directed that listed companies shall issue the securities in Demat form only while processing the request for Issue of duplicate securities certificate, Claim from Unclaimed Suspense Account, Renewal / Exchange of securities certificate, Endorsement, Sub-division/Splitting/consolidation of securities certificate, Transmission & Transposition. SEBI has also put in place operational guidelines for dematerialisation of securities while processing investor’s service requests.
The securities holder shall submit his request duly filled up Form ISR-4, as per the format attached in the regulation along with the documents or details specified therein.
The RTA/Issuer Companies will verify and process the service requests within 30 days of the receipt and will issue ‘Letter of Confirmation’
The Letter so issued will be valid for 120 days from the date of its issuance, within which the securities holder/claimant will have to request the depository participant for dematerializing the said securities.
In case the securities holder/claimant fails to submit the Demat request within the aforesaid period, RTA / Issuer Companies shall credit the securities to the Suspense Escrow Demat Account of the Company.
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