Introduction
Sometime is it become mandatory for the shareholders to apply for the duplicate share certificate. The same may be required in following cases:
- a. Old Certificate is destroyed;
- b. Old share certificate is lost or misplaced;
Governing Provisions
Issue of Duplicate Share Certificates are governed by following provisions:
- a. Articles of Association of Company
- b. Sec 46 of Companies Act 2013
- c. Rule 6 Of Share Capital and Debenture Rules 2014
Time Period
In case of Unlisted Company Duplicate Certificate shall be issued within a period of 3 months and in case of listed Company such certificate shall be issued within 45 days from the date of submission of complete documents by the member to the Company.
Fees for Issue of Duplicate Shares Certificate
Company may charge such fees as the Board may think fit as per the Articles of Association of Company provided that such fees shall not exceed Rs 50 per certificate,further the Board may charge out of pocket expenses incurred by company in investigating the evidence produced for issue of Duplicate Share Certificate.
Procedure
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- a. The member whose Certificate is lost shall intimate the Company about the lost along with the Copy of FIR lodged for the lost certificate.
- b. On receiving the intimation Company shall ask for the following executed documents from the member.
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- i. Affidavit-Declaring the details of lost Share Certificate and swearing that the facts disclose are correct
- ii. Indemnity Bond-Wherein the memberindemnifies the Company against any claims arising out of the lost shares
- iii. Proof of Identity of memberi.e PAN, Aadhar, Election Card or Passport
- iv. Attested Signatures of member
- v. Advertisement in the newspaper if any issued for the lost Certificate;
- vi. Undertaking pertaining to ownership of the shares;
- vii. Details of shareholding.
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- c. On being satisfied with received documents the Board shall pass the necessary Board Resolution either by circulation or by conducting Board Meeting approving the issue of Duplicate Share Certificate. The certificate such issued shall contain prominently on its face “Duplicate issued in lieu of Share Certificate No. ___”
- d. The details of the Duplicate Certificate issued have to entered in RegisterSH-2
***Please note the Documents as specified under clause ‘b’above are not specified under any act these document generally company ask, further the indemnity bond is essential for safeguarding the interest of Company.
Conclusion: Hope we have helped you to get to know the process involved in issue of duplicate share certificate, in case still you have any doubt, please feel free to contact us at complianceship@gmail.com or contact us at +91-8010233173.
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