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Lost your share certificate? Understand how duplicates and demat credit work

We help you prepare the request, the indemnity papers and the demat details the RTA needs, under the 2026 direct-credit framework.

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What happens when a certificate is lost?

A lost, stolen, mutilated or destroyed share certificate does not mean you have lost the shares. The company's records still show you as the holder, and you can ask the company, through its RTA, to issue duplicate securities.

Until 2026, the usual outcome was a Letter of Confirmation (LOC) that the investor then had to take to a DP within a limited time. SEBI's circular of 30 January 2026 abolished the LOC for specified service requests, including duplicate certificates, and replaced it with direct credit to the investor's demat account.

What this service involves

  • Establishing your holding

    Using folio number, name and company records to identify the shares.

  • Preparing the request

    Form ISR-4 and the supporting papers required by the RTA.

  • Indemnity papers

    An affidavit-cum-indemnity or an undertaking, depending on the value of the securities.

  • Demat details

    A recent Client Master List (CML) so that credit can be made directly to your demat account.

Who may need this service

  • Holders who lost certificates

    Misplaced, stolen, burnt, water-damaged or torn.

  • Heirs who cannot find certificates

    After a family member's death.

  • Holders of mutilated certificates

    That the company will not accept as they are.

Common problems we see

  • Folio number unknown

    Which makes it harder for the RTA to locate the holding.

  • Old LOC process information

    Many older articles still describe the LOC process, which no longer applies for new requests.

  • Additional document requests

    RTAs sometimes ask for extra documents; the circular says deviations should be explained in writing.

How the process generally works

The exact steps depend on the company, the type of holding and the facts of your case. This is a general outline.

  1. 1

    Check your demat account

    A demat account must exist before the request is made.

  2. 2

    Obtain a recent CML

    Attested by your DP and not older than two months.

  3. 3

    Prepare ISR-4 and indemnity

    The affidavit-cum-indemnity applies above ₹10,000 in value; an undertaking applies up to ₹10,000, as set out in the circular.

  4. 4

    Submit to the RTA

    With any other documents the RTA is entitled to ask for.

  5. 5

    RTA processes the request

    The RTA verifies and, after clearing objections, initiates the credit.

  6. 6

    Receive confirmation

    You are informed once the securities are credited.

Document checklist

Checklist: duplicate share certificate / direct demat credit

Applies to: Certificate lost, stolen, destroyed or mutilated; RTA service request under SEBI's 30 Jan 2026 circular

Based on the documents listed in SEBI's circular of 30 January 2026. The RTA may ask for more in specific cases and must explain deviations in writing.

Mandatory documents

  • A demat account must already exist
  • Form ISR-4, duly filled
  • Latest Client Master List (CML), attested by the DP and not more than two months old
  • Demat conversion request form

Value-based papers

  • Affidavit-cum-indemnity, where the value of the securities is above ₹10,000
  • Undertaking, where the value is up to ₹10,000

Other

  • Original certificate, in the cases where the circular requires itIf applicableNot required where the certificate is lost.

How IEPF Assist can help

  • Explaining the correct current process
  • Preparing ISR-4 and indemnity documents
  • Organising the CML and demat details
  • Following up for objections and credit

We are an independent consultancy. We help you prepare, organise and follow up — the decision on your request always rests with the company, the Registrar and Transfer Agent (RTA), the depository or the relevant authority.

Expected stages and possible delays

We cannot promise a completion date, because processing depends on third parties. Common reasons for delay include:

  • Incomplete requests that stop the 30-day clock
  • RTA requests for additional documents
  • Mismatched holder details
  • Demat account details that do not match the folio

Frequently asked questions

Do I still get a Letter of Confirmation?
For requests under the new framework, no — securities are credited directly. LOCs issued earlier can still be used within the transition period stated in the circular.
Do I need an FIR for a lost certificate?
Not every case needs one, and requirements can vary. We will tell you what the RTA's current instructions say.
Is the 30-day period a guarantee?
It is the timeline the RTA is expected to follow once a complete request is received. Delays can still occur if objections or deficiencies arise.

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Discuss your case with us

Tell us what you know about the shares or documents. We will explain the likely route and what to keep ready.

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Last updated 18 Oct 2026. This page is general information, not legal or financial advice.

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