share certificate

This query is : Resolved

pawan garg (Querist)
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17 July 2009 can we issue new share certificates with new distinctive no by destroying existing complete share certificates?

nothing is written in law for this.

Is there any practice that is followed?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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17 July 2009 Yes you can issue.
The board has to pass a resolution for the same.

Ankur Garg

Ankur Garg (Expert)
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18 July 2009 You can issue new certificate in new format only after approval of sample certificate in BM through Board resolution.

But you can not change the distinctive numbers.

For example Mr. A is holding 150 share with distinctive no from 8351 to 8500.

You can not change the distinctive no. mentioned in the certificate of Mr. A. However there is no express prohibition in this regards in law but it may create problems in future.

Regards

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pawan garg

pawan garg (Querist)
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18 July 2009 is it possible to pass resolution in shareholders meeting for changing in distinctive no.?

Please advice.

Ankur Garg

Ankur Garg (Expert)
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24 July 2009 As i mentioned in my earlier reply there is no express prohibition in this regards in law so you may go ahead.

Regards