SEBI Proposes Raising Simplified Documentation Limit to Rs. 10 Lakh for Duplicate Securities

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  • Last Updated on 27 November, 2025

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SEBI duplicate securities documentation

SEBI Report Dated 25.11.2025

1. Overview

The Securities and Exchange Board of India (SEBI) has released a proposal to streamline and strengthen the process for issuing duplicate securities certificates.

The proposed changes aim to ease compliance for investors while ensuring uniformity and clarity for listed companies and Registrars & Transfer Agents (RTAs).

2. Enhanced Monetary Limit for Simplified Documentation

SEBI has proposed increasing the monetary threshold for availing simplified documentation in cases of loss of physical securities:

  • Existing limit – ₹5 lakh
  • Proposed limit – ₹10 lakh

This enhancement will allow a larger number of investors to benefit from a less burdensome documentation process, reducing delays and procedural hurdles.

3. Standard Format for Affidavit-cum-Indemnity

To promote consistency across jurisdictions, SEBI has proposed:

  • A standardised format of the Affidavit-cum-Indemnity,
  • To be executed on non-judicial stamp paper of value applicable in the claimant’s state.

This will remove the current variation in formats and ensure that all claimants follow a uniform, regulator-approved template.

4. Clarification on Newspaper Advertisement

SEBI has also clarified the responsibility for publishing the mandatory advertisement regarding loss of securities.

The newspaper advertisement will be placed by the listed company, not the investor.

This provides procedural clarity and reduces the operational burden on security holders.

5. Public Consultation

SEBI has invited comments and suggestions from stakeholders on the proposed framework.

Last date for submission – 16 December 2025

Stakeholders may provide feedback to help finalise a simplified, standardised, and investor-friendly process for the issuance of duplicate securities.

6. Significance

The proposals are expected to:

  • Reduce investor inconvenience and procedural delays,
  • Bring clarity and uniformity to documentation standards,
  • Ensure smoother processing by listed companies and RTAs, and
  • Enhance investor protection through streamlined regulations.
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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied