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Share transfer

Shilpa.N (A) (70 Points)

06 January 2014

Dear All,

The Company (PVT LTD) has received a request from Shareholder A to transfer his 2300 shares to B by way of gift. But A does not have share certificates. And the fact is that the Company does not have any details of share certificates issued nor it has maintained statutory registers or captures the data in the annual return.

Basically both the share holder & the Company do not have the share certificate details except for the quantity, face value & ledger folio of current shareholders.

What is the recourse to the Company in such a situation? How can the share transfer be done as on date?

Experts pls advise

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4 Replies

CS Adnan Shaikh (Company Secretary) (1301 Points)
Replied 06 January 2014

In my opinion you could issue Duplicate Shares Certificates to the shareholders first and then proceed with the transfer of shares.

Other views are invited.

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Shilpa.N (A) (70 Points)
Replied 06 January 2014

But to issue duplicate share certificate we do not know the Share certificate number of original certificate nor we know the distinctive numbers of shares held by A

CS Adnan Shaikh (Company Secretary) (1301 Points)
Replied 06 January 2014

Have you issued share certificates earlier? Is it lost? or you haven't issued any share certificates yet?

Shilpa.N (A) (70 Points)
Replied 06 January 2014

Actually the Company was purchased some years back, and we do not have the data pertaining to the initial shareholders & transfers made. We only know the current position that Mr A, B & C are shareholders & their ledger folio ( as picked from the annual return of the Company) .