HO/38/13/(3)2026-MIRSD-POD/I/3763/2026

CIRCULAR HO/38/13/(3)2026-MIRSD-POD/I/3763/2026 To, All Listed Companies All Registrars to an Issue and Share Transfer Agents (RTAs) All Depositories Madam / Sir, Sub: Ease of Doing Investment and Ease of Doing Business – Doing away with requirement of issuance of Letter of Confirmation ("LOC") and to effect direct credit of securities in dematerialisation account of the investor SEBI has prescribed the procedure for credit of securities issued pursuant to various investor service requests such as issuance of duplicate securities certificates, transmission, transposition, claim from unclaimed suspense account and corporate actions, in dematerialised ("demat") mode vide para 13, 20, 22, 23 and Annexure -7, Annexure-15 and Annexure-20 of Master Circular for Registrars to an Issue and Share Transfer Agents ("RTAs") dated June 23, 2025 ("Master Circular") . In order to simplify the process for credit of securities pursuant to investor service requests by reducing the timelines, risk of loss and pilferage, it has been decided to do away with the requirement of issuance of LOC. To implement this, the Depositories shall develop a process/system to enable RTAs/listed companies to credit the securities directly to the demat account of the investor after necessary due-diligence by RTAs/listed companies. The investor service request shall be accompanied with a copy of the latest Client Master List ("CML") of the demat account. Such CML shall not be older than two months and shall be duly attested by the Depository Participant ("DP") . January 30, 2026 To give effect to this , certain amendments have been made to Para 13, 20, 22, 23 and Annexure -7, Annexure-15 and Annexure-20 of the Master Circular. The same are provided at Annexure-A of this Circular. The provisions of this circu

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