SEBI eases procedure for issuing duplicate securities, hikes limit to Rs 10 lakh

Securities and Exchange Board of India (SEBI) has simplified the process for issuing duplicate securities certificates. In a circular, the market regulator doubled the monetary threshold for the simplified documentation process to Rs 10 lakh from the earlier Rs 5 lakh. Following this, investors whose lost or damaged securities are valued up to Rs 10 lakh will now have to submit fewer documents to get duplicate certificates. SEBI said this is aimed at reducing compliance hassles and removing inconsistencies that existed due to different practices followed by companies and registrar and transfer agents (RTAs).

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