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Worried about your lost share certificate? Get a duplicate share certificate effortlessly with Enterslice within minutes!
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Benefits of getting a duplicate share certificate include the following:
Challenges faced in getting a duplicate share certificate include the following:
The following are eligible for issuing duplicate share certificates include:
Various documents are required for a duplicate share certificate, some of which include the following:
As India’s leading ROS consultant, Enterslice can help you with the following:
Secure ownership of your lost share certificates in 6 to 7 weeks from the place of your convenient.
When a shareholder's original share certificate is lost, destroyed or damaged, they can apply for the issue of duplicate share certificate.
Notably, a duplicate share certificate serves as legal proof of ownership, facilitating shareholders to leverage their rights, including voting and receiving dividends. The issue of duplicate share certificate in India is governed by the Companies Act, 2013, and the Companies (Share Capital and Debentures) Rules, 2014.
These regulations mandate listed companies to issue duplicate share certificate within a period of 45 days. However, unlisted companies must facilitate duplicate issuance of share certificates within three months from the date of document submission.
This process ensures that the interests of shareholders are safeguarded while the integrity of corporate records is maintained. Let our ROS experts assist you with the issuance of duplicate share certificate.
Application and Paperwork assistance for submission
Verification support to ensure legal compliance
Guidance to secure board approval efficiently
Quick processing to ensure duplicate share issuance within 45 days
Preventing fraud against unauthorized share transfers
Updating Form SH-2 for maintaining records accurately
The loss of share certificates is a matter of concern for the shareholder, and it involves various legal, procedural, and verification challenges that mandate adherence to stringent compliance to prevent fraud and avoid ownership disputes. Some challenges include the following:
The verification process to issue duplicate share certificates is exhaustive and time-consuming. Validating each document, ownership claim, and identity proof takes time, leading to delays in the issue of duplicate share certificates.
One significant challenge is to ensure the rightful owner obtains the duplicate certificate, which is critical in preventing misuse, fraud, or unauthorized share transfers.
AIt is challenging to meet the compliance requirements under the Companies Act, 2013 and as per SEBI guidelines as the process requires detailed paperwork, legal approvals and consent of the board.
The issue of duplicate share certificates adds an operational burden on the companies through verification costs, legal formalities, and processing fees.
Maintaining an updated Form SH-2 and accurate records is a systematic process and mandatory to meet compliance and transparency.
In case shareholders experience loss/misplace of share certificate, they must apply for duplicate share certificate, which is a stepwise process. The procedure starts with submitting a formal application, followed by the company board approval and document verification. Let us explore the process of issuance of duplicate share certificates in detail below:
Shareholders suffering from loss of share certificates are mandated to apply for duplicate issuance of shares certificates. However, they must apply for a duplicate share certificate in India by submitting proof of identity and an indemnity bond signed by the shareholder.
Once the application has been submitted, the company validates the documents and records of ownership to examine the genuineness of the claim. However, the company's board then reviews the verification request, validates the documents, and approves the issuance of duplicate share certificate in India.
Once the board approves the application, it may charge a processing fee of ₹50 per certificate and account for investigation expenses. Some companies require a notice to be published in newspapers for objections before duplicate share certificates are issued to the investors.
Once the other steps are completed, it becomes mandatory for listed companies to issue duplicate share certificate within 45 days, while unlisted companies must issue duplicate certificates within three months. However, the duplicate certificates must be stamped "Duplicate issued in lieu of Share Certificate No…" for record authenticity.
Once a duplicate share certificate is issued, it must be recorded in Form SH-2. These certificates must be stamped "Duplicate". It must be updated at the company's registered office.
Duplicate issuance of share certificate is a stepwise process, wherein each step takes a defined time period to complete. Listed companies take between 1.5 to 3 months, while unlisted companies take 2 to 4 months to complete. Detailed timeline for duplicate issuance of shares includes the following:
Application and document submission by the shareholder to initiate the preliminary verification of ownership details takes 1 to 7 working days to complete.
The submitted application is reviewed by the board, which proceeds to validate the information. Once verification is complete, the board grants approval for the duplicate issuance of shares certificate. This step takes between 5 to 7 working days to complete.
The next in the process is to make the applicable fee payment, which is important for the company to complete its investigation, taking between 3 to 5 working days to complete.
After the board grants approval to issue a duplicate share certificate, the listed companies are mandated to issue the certificates within 45 days. However, unlisted companies have up to three months to complete this step.
Once the certificates are issued, they are recorded in the Register of Renewed and Duplicate Share Certificates (Form SH-2). Such certificates must be stamped as "Duplicate". Once done, the stamped certificates are dispatched to their respective shareholders.
Shareholders who lose or misplace their original share certificates must apply for loss of share certificate by submitting the following documents:
Formal application as Form ISR-4
Indemnity bond on non-judicial stamp paper
Notarized Affidavit to confirm share certificate ownership
FIR or police complaint copy in case of loss
Proof of identity - PAN or Aadhar card copies
Proof of Address - Utility bills or passport copies
Bank Details - Cancelled cheque or bank statement
Signature verification by bank manager
Newspaper advertisement to inform about loss of share certificate
Shareholders who have experienced loss of share certificate can apply for duplicate share certificate in India. Authorized entities can issue duplicate share certificates in adherence to regulatory guidelines. Authorized entities can issue a duplicate share certificate to prevent shareholder rights and misuse of shares. Following are eligible to issue duplicate share certificate:
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Shareholders who have suffered from loss of share certificate must request for duplicate issuance of shares owing to various benefits. Some of these include ownership rights and fraud prevention to facilitate streamlined transactions when the original is lost or damaged. Benefits of duplicate issuance of shares include:
Shareholders who have misplaced share certificates can apply for duplicate share certificates to ensure legal proof of shareholding and are entrusted with their rights, including voting, dividend claims, and asset transfers.
The issue of duplicate share certificates helps deal with the issue of unauthorized share transfers, preventing potential fraud, financial loss and misuse by deceitful entities or individuals.
A duplicate share certificate facilitates shareholders to transfer, pledge or sell shares without any hassles. The issuance of duplicate share certificates enables shareholders to manage their investments without any disturbances.
Once shareholders receive their duplicate share certificate, they can easily receive dividends and other entitlements, which, in turn, prevents financial losses suffered owing to the loss or misplacement of original share certificates.
Duplicate issuance of shares certificate is aligned with the Companies Act, 2013 compliance requirements and SEBI regulations. Duplicate share certificate in India helps shareholders avoid penalties and legal complications in share management.
A duplicate share certificate establishes the ownership of the shareholders and safeguards their rights by preventing misuse of shares, recovering lost investments, and resolving ownership disputes
Loss of share certificate helps companies maintain proper shareholder records and ensures transparency. It also helps deal with management crises and facilitates compliance with corporate governance norms.
One of the most significant benefits of a duplicate share certificate is that it gives peace of mind to the shareholders by eliminating stress, legal risks and financial uncertainties. It also serves as a valid replacement for lost or damaged share certificates.
Have a look at the prerequisites for duplicate share certificate-
A duplicate share certificate in India is essential as it serves as a proof of ownership. Duplicate share certificate in India is important for those shareholders whose original share certificates are either lost, stolen or damaged. Without a share certificate, shareholders are not eligible to transfer, sell, or claim dividends, significantly impacting their financial interests. It also averts fraud by preventing the misuse of lost shares by unauthorized persons.
Companies must issue duplicate share certificates in compliance with SEBI regulations and the Companies Act, 2013. Duplicate issuance of shares for listed companies must be completed within 45 days, while unlisted companies can take up to three months to complete the process.
Given below are the services for the issuance of duplicate share certificate offered by our ROS experts at Enterslice-
Enterslice has more than 10 years of experience dealing with duplicate issuance of share certificates. Our professional team is committed to helping you obtain your duplicate share certificate on time. We have the required expertise and experience to deal with complex cases and offer guidance, compliance support, and quick processing to minimize the burden on shareholders.
Let us explore the reasons why we are the most trustworthy consulting firm for duplicate share certificate services:
No, selling shares without a share certificate is impossible. A share certificate helps establish legal proof of ownership, and shareholders cannot transfer or sell shares without a valid share certificate. However, a duplicate share certificate must be obtained if the original share certificate is lost or damaged. Issue of duplicate share certificate helps ensure that shareholders are able to complete their transactions legally in line with the company's procedures.
Yes, lost, damaged, or stolen share certificates can be replaced with duplicate ones. However, the shareholders must apply for duplicate share certificate by submitting the application along with important documents, an indemnity bond and an affidavit in accordance with the regulations of the Companies Act, 2013. However, a duplicate share certificate cannot be issued without the approval of the company's board.
A duplicate share certificate is a legal and valid replacement for the original share certificate that is either lost, damaged or stolen.
Duplicate issuance of shares certificate validates the ownership of the original shareholder and facilitates shares-related transactions. However, companies are mandated to adhere to the timelines in issuing duplicate share certificates, wherein a listed company must complete the process in 45 days while unlisted companies must complete the process in three months.
The issuance of duplicate share certificates in India is governed by Section 56(4) of the Companies Act, 2013, which mandates that a company issue a share certificate within two months of allotment or one month of transfer. However, if companies fail to adhere to the regulation, they are liable for penalties and may be fined up to ₹5 lakh. However, officers concerned may have to shell out a penalty amount of ₹10,000 per day, up to a maximum of ₹5 lakh. Non-issuance of a duplicate share certificate within the specified time period can also lead to penalties.
As per the rules, a company may charge a maximum fee of ₹50 per certificate. However, shareholders may have to bear other expenses incurred during the overall process, such as document verification charges and company investigations, before issuing a duplicate share certificate. In case the shareholders seek professional help, consultation charges may also be levied, adding to the overall cost of replace lost share certificates.
An affidavit used in the process to apply for misplace of share certificate is a sworn legal statement that confirms the loss, destruction, or misplacement of the original share certificate. The affidavit must include details of the shareholder, certificate number, and a declaration that it has not been sold or transferred. This document is required to confirm the authenticity of the replacement request by the shareholder.
Issue of duplicate share certificate is mandated to be resolved within the specific time period. New share certificates are mandated to be issued within two months from the allotment date. However, duplicate share certificates of listed companies must be issued within 45 days and that of unlisted companies must be issued within three months of the application date.
Yes, stamp duty must be paid for issuance of duplicate shares certificate, however, it is subject to the company's registered state regulations. rates on stamp duty vary depending and shareholders must pay the applicable amount at the time of submitting an application for a duplicate share certificate. It is important to note that some states charge a nominal amount per certificate.
No, a xerox copy of an affidavit is not a valid document. A notarized original affidavit is required at the time of application for a duplicate share certificate. Companies neither accept xerox copies not do they accept photocopies of affidavits as such documents lack legal validity. Therefore, shareholders are required to submit a duly signed and attested copy of an affidavit to ensure its validity in initiating the issuance of duplicate share certificates.
FIR or police complaint is mandatory for issuing a duplicate share certificate only when the original share certificate is stolen. In other cases of loss or misplacement, it is not mandatory. However, for loss or misplacement, some companies accept an indemnity bond and affidavit instead. These requirements depend on and vary on the basis of individual company's policy and regulatory guidelines. Shareholders must understand the company policies and guidelines to be able to facilitate a streamlined process.
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