(Moneycontrol)
With an aim to simplify the procedure for transmission of securities, Sebi has revised the existing threshold limit for simplified documents to Rs 5 lakh from Rs 2 lakh currently for securities held in physical mode per listed issuer.
Also, the threshold in this regard for securities held in the dematerialised mode for each beneficiary account has been increased to Rs 15 lakh from the present level of Rs 5 lakh.
Legal Heirship Certificate or its equivalent certificate issued by competent government authority will be an acceptable document for transmission of securities, the regulator said in a notification issued on Tuesday.
The objective is to ensure that uniform processes are followed by the Registrars to an Issue and Share Transfer Agents (RTAs) / listed companies, which would further ease the transmission process for investors.
