Issue of duplicate share certificate
This query is : Resolved
08 October 2013
Dear all,
out company receive application for issue of duplicate share certificate from two shareholders in respect of misplaced/lost certificate.
we have filed FIR with police station. now we have to public notice in english newspaper. so can any one provide sample or cutting of notice in newspaper so that i cant get idea for the same.
Thanks in advance
out company receive application for issue of duplicate share certificate from two shareholders in respect of misplaced/lost certificate.
we have filed FIR with police station. now we have to public notice in english newspaper. so can any one provide sample or cutting of notice in newspaper so that i cant get idea for the same.
Thanks in advance
14 October 2013
Hi
Procedure for issuance of duplicate share certificates
1. The Company Secretary shall get from the shareholder an indemnity bond, surety bond, copy of the FIR filed with the police and such other evidence as may be prescribed by the Board of directors for consideration of such request. Bank or insurance guarantee may also be required.
2. It is usual to publish a general notice in a newspaper in the place of the registered office intimating the public of the loss of the share certificate and of the company's proposal to consider issue of a duplicate share certificate, in lieu of the one that is lost, in case no objection is received by the company within a prescribed time.
Absence of response to unauthorised issuance of advertisements in newspapers cannot make the issue of duplicate share certificates valid or proper, particularly when the registered shareholder is alive at the time and the company is considering the application for registration of transfer of shares by him. [Pradip Kumar Sarkar v Luxmi Tea Co. Ltd. (1990) 67 Comp Cas 491 (Cal)].
3. The cost of the publication of the general notice is normally borne by the shareholder.
4. In the case of the smallness of value of the shares for which a duplicate share certificate is desired, the Board may, at its discretion, dispense with the costly procedure of publication of general notice and may be satisfied with the execution of an indemnity and surety bond and production of other evidence by the shareholder to establish the fact the share certificate has actually been lost.
5. On receipt of compliance of the formalities, as required by the Board or Committee thereof, from the shareholder, and after expiry of the period specified in the general notice, and if the company does not receive any objection to its proposal, wherever applicable, the proposal for issue of duplicate share certificate will be placed at a meeting of Board or Committee.
6. If the proposal is approved, such approval will be by way of a resolution, which will, inter alia, include approval for issue of new share certificate and will authorise two directors and Secretary or other person specified to sign the share certificate and affix common seal in their presence.
7. The following words shall be written on the face of the duplicate share certificate "Duplicate issued in lieu of share certificate No..." and the word "Duplicate" will be stamped in bold letters across the face of the share certificate.
8. Particulars of duplicate share certificates issued will be entered in the Register of Renewed and Duplicate Share Certificates indicating the name of the person to whom it is issued, the number and date of the new share certificate.
9. The issue of duplicate share certificate will also be entered in the Register of members and the ledger folio of the concerned member indicated in "Remarks" column of the said Register of Duplicate Share Certificates.
10. Intimation shall also be given to all stock exchanges where the shares of the company are listed regarding issue of duplicate share certificate and cancellation of old share certificate.
Procedure for issuance of duplicate share certificates
1. The Company Secretary shall get from the shareholder an indemnity bond, surety bond, copy of the FIR filed with the police and such other evidence as may be prescribed by the Board of directors for consideration of such request. Bank or insurance guarantee may also be required.
2. It is usual to publish a general notice in a newspaper in the place of the registered office intimating the public of the loss of the share certificate and of the company's proposal to consider issue of a duplicate share certificate, in lieu of the one that is lost, in case no objection is received by the company within a prescribed time.
Absence of response to unauthorised issuance of advertisements in newspapers cannot make the issue of duplicate share certificates valid or proper, particularly when the registered shareholder is alive at the time and the company is considering the application for registration of transfer of shares by him. [Pradip Kumar Sarkar v Luxmi Tea Co. Ltd. (1990) 67 Comp Cas 491 (Cal)].
3. The cost of the publication of the general notice is normally borne by the shareholder.
4. In the case of the smallness of value of the shares for which a duplicate share certificate is desired, the Board may, at its discretion, dispense with the costly procedure of publication of general notice and may be satisfied with the execution of an indemnity and surety bond and production of other evidence by the shareholder to establish the fact the share certificate has actually been lost.
5. On receipt of compliance of the formalities, as required by the Board or Committee thereof, from the shareholder, and after expiry of the period specified in the general notice, and if the company does not receive any objection to its proposal, wherever applicable, the proposal for issue of duplicate share certificate will be placed at a meeting of Board or Committee.
6. If the proposal is approved, such approval will be by way of a resolution, which will, inter alia, include approval for issue of new share certificate and will authorise two directors and Secretary or other person specified to sign the share certificate and affix common seal in their presence.
7. The following words shall be written on the face of the duplicate share certificate "Duplicate issued in lieu of share certificate No..." and the word "Duplicate" will be stamped in bold letters across the face of the share certificate.
8. Particulars of duplicate share certificates issued will be entered in the Register of Renewed and Duplicate Share Certificates indicating the name of the person to whom it is issued, the number and date of the new share certificate.
9. The issue of duplicate share certificate will also be entered in the Register of members and the ledger folio of the concerned member indicated in "Remarks" column of the said Register of Duplicate Share Certificates.
10. Intimation shall also be given to all stock exchanges where the shares of the company are listed regarding issue of duplicate share certificate and cancellation of old share certificate.
14 October 2013
Renewal or issuance of duplicate share certificate
A company may renew or issue duplicate share certificates in the following conditions:—
(a) if it is proved to have been lost or destroyed; or
(b) having been defaced or mutilated or torn is surrendered to the company.
Section 84(3) states that if a company with intent to defraud renews a certificate or issues a duplicate thereof, the company shall be punishable with fine which may extend to Rs. 10,000 and every officer of the company who is in default shall be punishable with imprisonment for a term, which may extend to six months or with fine, which may extend to Rs. One Lakh or with both.
Where the directors of the company resolve to issue duplicate shares to the third respondent in lieu of original share certificates retained in the custody of the petitioner, the duplicate hare certificates so issued amount to dead security. [Shailesh Rajnikant Parekh v Starline Travels (P) (Ltd.) (2004) 60 CLA 41 (CLB)].
Renewal or issuance of duplicate share certificate
A company may renew or issue duplicate share certificates in the following conditions:—
(a) if it is proved to have been lost or destroyed; or
(b) having been defaced or mutilated or torn is surrendered to the company.
Section 84(3) states that if a company with intent to defraud renews a certificate or issues a duplicate thereof, the company shall be punishable with fine which may extend to Rs. 10,000 and every officer of the company who is in default shall be punishable with imprisonment for a term, which may extend to six months or with fine, which may extend to Rs. One Lakh or with both.
Where the directors of the company resolve to issue duplicate shares to the third respondent in lieu of original share certificates retained in the custody of the petitioner, the duplicate hare certificates so issued amount to dead security. [Shailesh Rajnikant Parekh v Starline Travels (P) (Ltd.) (2004) 60 CLA 41 (CLB)].
14 October 2013
When shares are sub-divided or consolidated, new share certificates can be issued only against surrender to the company of the original certificate in respect of the shares sub-divided or consolidated.
Similarly, shareholder may ask the company to issue fresh certificates in place of those which are defaced or torn or where the space for recording endorsements has been completely utilized. In these cases, fresh certificates can be issued when the original certificates are surrendered to the company for cancellation.
The purposes of the issue of the duplicate certificate like "Issued in lieu of share certificate No. ..... on sub-divided consolidated/defaced or lost" will be indicated in the duplicate certificate issued and in counterfoil, kept with the company. Further, the words "Duplicate certificate No. …… issued on dated ……….." will be written on the face of the duplicate certificate issued to the shareholder and in the stub or counterfoil as well as in the Register of members.
Further the word "Duplicate" shall be stamped in bold letters across the face of the certificate in respect of issue against certificate lost.
Similarly, shareholder may ask the company to issue fresh certificates in place of those which are defaced or torn or where the space for recording endorsements has been completely utilized. In these cases, fresh certificates can be issued when the original certificates are surrendered to the company for cancellation.
The purposes of the issue of the duplicate certificate like "Issued in lieu of share certificate No. ..... on sub-divided consolidated/defaced or lost" will be indicated in the duplicate certificate issued and in counterfoil, kept with the company. Further, the words "Duplicate certificate No. …… issued on dated ……….." will be written on the face of the duplicate certificate issued to the shareholder and in the stub or counterfoil as well as in the Register of members.
Further the word "Duplicate" shall be stamped in bold letters across the face of the certificate in respect of issue against certificate lost.
14 October 2013
Letter to shareholder regarding issuance of duplicate share certificate
ABC Limited
Regd. Office: Silver Ark Plaza, 20A, New Palasiya, Indore (M.P.)
Ref.No.ABC/2006 Date 27th Dec., 2006
Dear Sir/Madam,
Re.: Issuance of duplicate Share Certificate
This has reference to your letter No. XXXX, dated XXXX reporting loss of Share Certificate(s) No(s) 002 to 005 for 400 Equity Shares of Rs. 10 each of the Company and requesting for duplicate thereof.
In order to enable us to place the matter before the Board of directors for their approval, you are requested to send us the following documents:—
1. Indemnity Bond on a non judicial Stamp paper of Rs. 100. (Supported by two sureties acceptable to us) as per the enclosed draft.
2. An affidavit on a non judicial Stamp paper of Rs. 20 duly verified by a First Class Magistrate or a Notary Public as per the draft enclosed.
3. A letter giving full particulars of shares in question such as No. of Shares, Distinctive No., Share Certificate No., Name of shareholder, Register folio No. etc.
4. A sum of Rs. 300 towards expenses in connection with the publication of notice in newspapers before issuance of duplicate share certificate, by way of Cheque/Bank Draft/Indian Postal Order drawn in favour of the Company.
On receipt of the above documents we shall take further action for issuance of duplicate Share Certificates, if approved by the Board of directors.
For ABC Ltd.
Ajay Mishra
Company Secretary
Letter to shareholder regarding issuance of duplicate share certificate
ABC Limited
Regd. Office: Silver Ark Plaza, 20A, New Palasiya, Indore (M.P.)
Ref.No.ABC/2006 Date 27th Dec., 2006
Dear Sir/Madam,
Re.: Issuance of duplicate Share Certificate
This has reference to your letter No. XXXX, dated XXXX reporting loss of Share Certificate(s) No(s) 002 to 005 for 400 Equity Shares of Rs. 10 each of the Company and requesting for duplicate thereof.
In order to enable us to place the matter before the Board of directors for their approval, you are requested to send us the following documents:—
1. Indemnity Bond on a non judicial Stamp paper of Rs. 100. (Supported by two sureties acceptable to us) as per the enclosed draft.
2. An affidavit on a non judicial Stamp paper of Rs. 20 duly verified by a First Class Magistrate or a Notary Public as per the draft enclosed.
3. A letter giving full particulars of shares in question such as No. of Shares, Distinctive No., Share Certificate No., Name of shareholder, Register folio No. etc.
4. A sum of Rs. 300 towards expenses in connection with the publication of notice in newspapers before issuance of duplicate share certificate, by way of Cheque/Bank Draft/Indian Postal Order drawn in favour of the Company.
On receipt of the above documents we shall take further action for issuance of duplicate Share Certificates, if approved by the Board of directors.
For ABC Ltd.
Ajay Mishra
Company Secretary
14 October 2013
In Newspaper:
Specimen of Notice of loss of Share Certificates
ABC Limited
Regd. Office: 132, Mahavir Nagar, Indore (M.P.)
NOTICE is hereby given that the following Share Certificates issued by the Company are stated to have been lost or misplaced or stolen and the registered holder thereof has applied to the Company for the issued of Duplicate Share Certificates.
Share Certificate No.
No. of Shares
Distinctive Nos.
Name of the registered Share holder
The public is hereby warned against purchasing or dealing in anyway with the above Share Certificates. Any person(s) who has any claims in respect of the said Share Certificates should lodge such claims with the Company at its registered office at the address given above within 15 days of publication of this notice, after which no claim will be entertained and the Company will proceed to issue duplicate Share Certificates.
For ABC Ltd.
Company Secretary
Place: Bhopal
Date:
Specimen of Notice of loss of Share Certificates
ABC Limited
Regd. Office: 132, Mahavir Nagar, Indore (M.P.)
NOTICE is hereby given that the following Share Certificates issued by the Company are stated to have been lost or misplaced or stolen and the registered holder thereof has applied to the Company for the issued of Duplicate Share Certificates.
Share Certificate No.
No. of Shares
Distinctive Nos.
Name of the registered Share holder
The public is hereby warned against purchasing or dealing in anyway with the above Share Certificates. Any person(s) who has any claims in respect of the said Share Certificates should lodge such claims with the Company at its registered office at the address given above within 15 days of publication of this notice, after which no claim will be entertained and the Company will proceed to issue duplicate Share Certificates.
For ABC Ltd.
Company Secretary
Place: Bhopal
Date:
14 October 2013
For more details, you can mark a mail to ajaygkp@gmail.com
15 October 2013
Thanks a lot sir, very relevant and solved my query.
15 October 2013
My Pleasure......
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