- This topic has 0 replies, 1 voice, and was last updated 2 months ago by
.
-
Posts
-
-
UWhen we say that you will get duplicate shares if your physical share certificates lost– you think the company will just print and mail you a new paper certificate ? To be honest with you even I thought the same….but SEBI rules have completely changed to prevent fraud.
Here is the exact reality of what happens when your duplicate share claim is approved today:
1️⃣ No More Paper Duplicates: Registrars (RTAs) no longer issue physical certificates. Instead, they issue a secure document called a “Letter of Confirmation” (LoC). 2️⃣ The “Waiting” Phase: Once this LoC is issued, your shares haven’t magically moved to your Demat yet. They are still sitting safely in your old “Physical Folio” in the company’s backend records. 3️⃣ The 120-Day Ticking Clock ⏱️: You now have exactly 120 days to submit this LoC to your broker (Depository Participant) so they can electronically pull the shares into your Demat account. 4️⃣ The Suspense Trap ⚠️: What happens on Day 121 if you miss the deadline? The RTA legally cannot keep them in your physical folio. They will pull your shares out and lock them into the company’s “Suspense Escrow Demat Account.” Your assets are frozen all over again, and you have to start a fresh, complicated recovery process.
The system is safer now, but the deadlines are unforgiving. Getting the legal formats right the first time and moving quickly is critical.
-
