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A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11A Regulation 74(5) certificate is an issuer’s confirmation that it has completed specified checks and record updates when processing securities for dematerialisation. Under the SEBI (Depositories and Participants) Regulations, 2018, the issuer has 15 days from receiving the security certificate from a participant to confirm the required listing status, verify and cancel the paper certificate, record the depository as registered owner, and send confirmation to the depository and relevant stock exchange or exchanges. SEBI’s RTA Master Circular dated June 23, 2025 sets out the provision.
What the certificate confirms
When an investor’s physical securities are submitted for dematerialisation, the issuer must complete specified actions after receiving the relevant security certificate from a participant. The Regulation 74(5) certificate documents those issuer-side actions for the depository and the stock exchange or exchanges where the security is listed.
In practical terms, it provides a compliance trail showing that the paper certificate was checked and cancelled and that the issuer’s records reflect the depository as the registered owner. It is not the investor’s dematerialisation application or a certificate the investor needs to submit.
What Regulation 74(5) requires
Within 15 days of receiving a certificate of security from a participant for dematerialisation, the issuer must carry out the following steps, as set out in SEBI’s RTA Master Circular:
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- Confirm to the depository that the securities represented by the certificate are listed on the exchange or exchanges where the earlier-issued securities are listed.
- After due verification, immediately mutilate and cancel the paper security certificate.
- Substitute the depository’s name in the issuer’s records as the registered owner.
- Send a certificate confirming these actions to the depository and every stock exchange where the security is listed.
The regulation states that the listing condition does not apply to unlisted companies. The rule and current exchange instructions should be checked for company-specific compliance guidance, since filing procedures may vary or change.
Why a listed company announces the filing
The announcement gives exchanges and depositories evidence that the issuer’s dematerialisation controls have been completed. Cancelling the physical certificate after verification and updating the registered-owner record helps keep the issuer’s records aligned with securities held electronically.
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In a company-level example, the RTA’s certificate is sent to the company, which then transmits it to the exchanges. Indian Energy Exchange’s filing dated April 13, 2026 describes accepted or rejected dematerialisation requests, listing status, cancellation of paper certificates, and substitution of the depository as registered owner.
Is the certificate filed quarterly?
Some exchange announcements group confirmations by quarter. The IEX example covers the quarter ended March 31, 2026. That reporting format should not be confused with the regulation’s 15-day period, which is triggered by the issuer’s receipt of the security certificate from a participant. Do not infer a universal quarter-end deadline from a quarterly announcement; any additional exchange filing requirement depends on current applicable instructions.
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How it relates to investor service requests
The certificate is part of the issuer’s processing and compliance, not an investor form. SEBI’s January 25, 2022 circular directed listed companies to issue securities in dematerialised form when processing covered investor service requests. These include duplicate certificates, claims from an unclaimed suspense account, renewal or exchange, endorsement, subdivision or splitting, consolidation, transmission, and transposition.
If you have one of these service requests, SEBI’s January 2026 investor FAQ directs you to the listed company’s registrar and transfer agent (RTA), or to the company’s in-house share department if it maintains one.
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What to check in a company announcement
When reading a Regulation 74(5) filing, check the details that connect it to the rule and the period it covers:
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- The issuer and its RTA, if identified.
- The period or dematerialisation requests covered by the certificate.
- Whether the confirmation addresses listing status, cancellation of the physical certificates, and substitution of the depository as registered owner.
- The filing date and the depository and exchanges to which it was sent.
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