From 2 April 2026, duplicate-certificate, transmission and similar RTA requests lead to direct credit in your demat account instead of a Letter of Confirmation. Here is what changed and what to prepare.
For years, investors who lost a share certificate, or who claimed securities after a holder's death, ended up with a Letter of Confirmation (LOC) from the RTA — and then had a limited time to take it to a depository participant to get the shares into demat form. A SEBI circular dated 30 January 2026 has done away with that step for specified service requests.
What the circular says
The circular (HO/38/13/(3)2026-MIRSD-POD/I/3763/2026) removes the requirement to issue an LOC and instead requires the RTA or issuer company to initiate the demat conversion so that securities are credited directly into the investor's demat account.
- Effective date: 2 April 2026.
- Requests covered: issue of duplicate certificates, transmission, transposition, claims from the unclaimed suspense account and corporate actions.
- Time limit: the RTA or issuer is to credit securities within 30 days of receiving a complete request, after clearing objections, and to inform the holder after credit.
- Transition: LOCs issued before 2 April 2026 can still be submitted to a depository participant for dematerialisation within 120 days of the date of issue.
What investors need to prepare
As summarised in secondary reports of the circular, documents include an existing demat account, a duly filled Form ISR-4, a recent Client Master List (CML) attested by the DP and not more than two months old, and the demat conversion request form; for duplicate certificates, an affidavit-cum-indemnity where the value is above ₹10,000 or an undertaking up to ₹10,000. The original certificate is needed in specified cases, but not for a lost certificate.
Practical tip: Because the CML must be recent, get it only when your other documents are ready. An outdated CML is a common reason for a request to be treated as incomplete.
What did not change
The ordinary route for dematerialising valid physical certificates through your DP is separate from this circular. IEPF claims follow the IEPF Authority's own process.
Watch out for old information
Many articles and videos still describe the LOC process. Check the date of any guide you rely on, and read the circular itself on the SEBI website.
How we can help
If you are dealing with a lost certificate or a transmission request, see our duplicate and lost certificate assistance and share transmission pages. We explain the process and help you prepare documents; outcomes and timelines rest with the RTA and company.
Frequently asked questions
Do I still get a Letter of Confirmation?
Is the 30-day period guaranteed?
Dealing with this situation?
We can explain which route applies to your case and what to prepare. Outcomes depend on the company and authorities.
Request ConsultationThis article is general information, not legal, tax or investment advice. IEPF Assist is an independent consultancy and is not affiliated with SEBI, MCA or the IEPF Authority.