Forfieture of fully paid shares

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

25 December 2013 I have certain shares of listed companies,
i paid all the due call and company endorse on share certificate fully paid,
later on company forfeit all the share & asked to provide the proof that from where you paid the money like copy of bank statement of dd no etc
but i destroyed all the proof once the certificate is endorsed marked fully paid
my query is
is the action of company is viable
what is remedy available to me
what are time limit to hold such documents
is fully paid mark on the share certificate with duly company authorised is not conclusive evidence?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 December 2013 everything said and done, how did you destroyed the bank statement? And even if you did, you can get another copy of the same. Same also applies to demand draft details.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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26 December 2013 As per law there is no such restriction that you have to kept the doc,
But its a common sense that you should keep it..
However, you can ask your bank they will provide you the details...

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Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2013 Nikhil ji
the matter was too long as of 1996
i went to bank for copy but they are able to trace
else i have paid some call in cash where on the company officials make seal.
but they denied that as it was by mistake
how it is possible.

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2013 Aryan ji
if the matter is too long ten how one can do
may be but is the fully paid mark duly signed by the company is not the conclusive evidence.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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26 December 2013 In such a case you need you mail your query to the company for the solution..

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2013 Company denied & said forfieture is final

CA Pallav Singhania

CA Pallav Singhania (Expert)
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26 December 2013 I don't think the company decision is right..

1) For registering a complaint, access http://scores.gov.in and click on the 'complaint registration' tab under 'Investor Corner'.

2) Enter your details

a) Enter your personal details and select a category among the following options:

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 December 2013 Then file a complaint with MCA. Let company prove that you didn't pay. Let them bring their account statements, share holder register.

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2013 i already file complaint with scores
one time my compliant is closed on the ground not providing sufficient evidence
but this time i have letter from company for send the share for endorsement
that is only proof i have
see what happen
on the contrary thanks for your valuable suggestion

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2013 Nikhil Ji how can i file complaint on MCA
can u let me know the procedure