Please tel me whenever stamp of any value say one rupee is affixed onthe share certificate then is there any need to sign on the stamp by relevant authority,or to affix commmon seal coz leaving it blank can be liable to fraud or any person can remove it.So is there any solution..
4 Replies
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 25 March 2010
Hello,
After pasting the stamp on the share certificate fixation of common seal over the stamp is necessary. Formal cancellation of revenue stamp by signature etc is not required at all.
Best Regards
Jagruti (CS)
(Service)
(1953 Points)
Replied 25 March 2010
After affixing the stamp on any document it needs to be executed which is normally done by signing on stamp of cancelling on face of stamp or any other method.
As per the issue of share certificate rule, Common seal of COmpany has to be affixed on the share certificate otherwise it is not valid .
Thus stamping is valid only after it is cancelled for porper execution
Archit
(Practice)
(27 Points)
Replied 25 March 2010
Dear Namrata,
It is mandatory to cancel the stamps pasted on the instruments like share certificates otherwise it shall be deemed that the instruments have not been stamped.
For more clarity, first pay the duty, cancel the stamp used and execute the document.
sreejith
(na)
(57 Points)
Replied 25 March 2010
yes you will have to cancel the stamp by crossing it
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