In December 2025, the Securities Exchange Board of India (SEBI) simplified the procedure of issuance of duplicate securities by increasing the threshold and easing the documentation requirements.
Exam Hints:
- What? SEBI simplifies procedure for duplicate securities issuance
- New threshold: Increased from Rs 5 lakhs to Rs 10 lakhs
- Standardised format: Only for Securities above Rs 10 lakhs standardised Affidavit-cum-Indemnity Bond format required
- Holding Based norms: For Securities
- Up to Rs 10,000: Simple undertaking on plain paper
- Rs 10,000 to Rs 10 lakhs: Affidavit-cum-Indemnity Bond on non-judicial stamp paper.
- Above Rs 10 lakhs: Additional documents – FIR, court order,police complaint
- Listed Company: Issue Ad for Securities above Rs 10 lakhs, may charge fee
Key Highlights
New Threshold: The regulator has doubled the monetary threshold for simplified documentation from Rs 5 lakh to Rs 10 lakh, making the process faster, more efficient and investor-friendly.
- This implies that investors holding securities valued up to Rs 10 lakh will now be required to submit fewer documents.
Effective Date: The new rules come into effect immediately and will also apply to applications currently under process.
Standardised Format: The measures are aimed at helping investors recover lost or damaged securities with greater ease, while also promoting dematerialisation, as all duplicate securities will be issued only in demat form.
- Only for Securities above Rs 10 lakhs: A standardised Affidavit-cum-Indemnity Bond format and rationalised documentation is prescribed.
Holding Based Norms: Under the revised norms:
- Securities up to Rs 10,000: Investors can submit a simple undertaking on plain paper.
- Securities above Rs 10,000 up to Rs 10 lakhs: Investors will only need to submit the standard Affidavit-cum-Indemnity Bond on appropriate non-judicial stamp paper.
- Securities above Rs 10 lakhs: For securities worth above Rs 10 lakhs, investors will additionally have to provide a copy of the First Information Report (FIR), police complaint, court order or complaint containing full details of the securities.
Listed Company: For securities valued at more than Rs 10 lakh, the listed company shall issue an advertisement regarding the loss of securities in a widely-circulated regional newspaper (where its registered office is located) on a weekly basis.
About Securities Exchange Board of India (SEBI):
The SEBI, a market regulator was constituted as a non-statutory body on April 12,1988 through a resolution of the Government of India (GoI) and was established as a statutory body in 1992.
Chairman – Tuhin Kanta Pandey
Headquarters – Mumbai, Maharashtra
