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The Section 46 of the Companies Act, 2013 read with Rule 6 of Companies (Share Capital & Debentures) Rules, 2014 deals with the provisions related to issue of the Duplicate Share Certificate. The company can propose to establish a procedure for issuing duplicate share certificate and to formulate a policy for the same.
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A duplicate certificate of shares can be issued, if such certificate —
The Shareholder to needs follow the procedure and submit the required documents for obtaining duplicate share certificates in case the share certificate is defaced or mutilated or torn or lost or destroyed. The shareholder has to inform about the loss of share certificates quoting his folio number and complete details of the lost share certificates, if available to the Company/Registrar and Share Transfer Agents. This application must state the full disclosure of the shares for which the duplicate share certificate is desired to be issued. In case to issue of duplicate share certificate the following procedure needs to be complies with for issue of Duplicate share certificate in lieu of original certificate reported misplaced.
While sending the documents there must be mention of the telephone or mobile number/Email ID in your covering letter to enable us contact you for any further requirement. Further, RTA shall mark the stop instruction in our records against the subject shares on receipt of FIR copy duly attested from you. This may please be sent on priority as the shares if received during the intervening period will be processed without any notice to the Shareholder.
All the above documents should bear the signature of the executor i.e. registered Shareholders. Incomplete documents will be not considered and are subject to rejection. It is not applicable in case share certificate is present. In such cases, Share Certificate in lieu of which duplicate share certificate is requested should be returned to the Company/Registrar & Share Transfer Agent.
Also, Read: Registrar and Share Transfer Agent (RTA) Registration: Role & Procedures.
The duplicate share certificate must not be issued in lieu of those that are lost or destroyed, without any prior consent of the Board/Stakeholders Relationship Committee or without payment of such fees as the Board/Stakeholders Relationship Committee thinks fit. It should not exceeds to Rs. 50 per certificate and on such reasonable terms, such as furnishing supporting evidence and indemnity and the payment of out-of-pocket expenses incurred by the company in investigating the evidence produced, as referred in this Policy.
The Duplicate Share Certificate must be issued within 15 days, from the date of submission of complete documents with the company.
Intimation must be also 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.
The Share Certificate is a true evidence of Shareholder ownership of the Share. In case of loss or misplacement of Share Certificate and for avoidance of any financial loss to the Company and Shareholders, a duplicate share certificate is required. The Issue of Duplicate Share Certificate must be done in case of lost or misplaced. The process of Issue of Share Certificate is not lengthy but its long lasting.
Read, Also: Procedure for Shares issue through Right Issue.
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