Ease of Doing Investment and Ease of Doing Business – Doing away with requirement of issuance of Letter of Confirmation (“LOC”) and to effect direct credit of securities in dematerialisation account of the investor

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.... the investor 1. SEBI has prescribed the procedure for credit of securities issued pursuant to various investor service requests such as issuance of duplicate securities certificates, transmission, transposition, claim from unclaimed suspense account and corporate actions, in dematerialised ("demat") mode vide para 13, 20, 22, 23 and Annexure-7, Annexure-15 and Annexure-20 of Master Circular for Registrars to an Issue and Share Transfer Agents ("RTAs") dated June 23, 2025 ("Master Circular"). 2. In order to simplify the process for credit of securities pursuant to investor service requests by reducing the timelines, risk of loss and pilferage, it has been decided to do away with the requirement of issuance of LOC. 3. To implement t....

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.... 8. This circular is available on SEBI website at www.sebi.gov.in under the category: 'Legal → Circulars'. Yours faithfully, Aradhana Verma General Manager Market Intermediaries Regulation and Supervision Department Tel. No. 022-2644-9633 Email id - [email protected]   Annexure-A 1. Para 13.2 stand substituted with the following: "Para 13.2 The securities holder/claimant shall submit duly filled up Form ISR-4 (to be hosted on the website of the Issuer Companies and the RTAs) along with the documents/details specified therein. For item nos. 13.1.3 to 13.1.8 in paragraph 13.1 above, the RTA/Issuer Company shall obtain the original securities certificate(s) for processing of service re....

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....ities in the demat account of the security holder/claimant, shall incorporate/intimate the Depository about the lock-in and its period. Para 13.5.4 The RTA shall retain the physical securities as per the existing procedure and deface the certificate with a stamp "Securities issued in dematerialised form" on the face/ reverse of the certificate, subsequent to processing of service request." 5. Para 20.7 stands substituted with the following: "Para 20.7 In case the securities were held by the deceased holder in a single name and in physical mode, then after verifying and processing the documents submitted for transmission of securities, the RTAs/Issuer companies shall transmit the securities directly in ....

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....account of the security holder/claimant. Para 1.c Post confirmation of the demat conversion request, the Depositories/RTAs/listed companies shall send an intimation to the security holder/claimant regarding successful dematerialisation of the securities. Para 1.d In case of the securities which are required to be locked in, the RTA, while crediting the securities in the demat account of the security holder/claimant, shall incorporate/intimate the Depository about the lock-in and its period. Para 1.e The RTA shall retain the physical securities as per the existing procedure and deface the certificate with a stamp "Securities issued in dematerialised form" on the face/ reverse of the certi....

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....sequent to processing of service request. In case of loss of certificate, since the physical certificate is not available, there is no requirement of defacing." 11. Format of Form ISR-4 stands modified as given here (pdf). ============= Document 1 Form ISR-4 Request for issue of Duplicate Certificate and other Service Requests (for Securities - Shares / Debentures / Bonds, etc., held in physical form) Date: / / A. Mandatory Documents / details required for processing all service request: I / We are submitting the following documents / details with respect to service request (tick v as relevant, refer to the instructions): · Demat Account No .: Provide latest Client Master List (CML) of your Demat Acc....