Shareholders query

[ACS DIVYA LAL]

Situation –

A shareholder has applied for issue of duplicate shares  reported lost. He is asking for a waiver.

 

Can a shareholder had requestfor waiver of the requirement for publication of Newspaper Advertisement since the total value of shares is less than Rs 10000/- ? please suggest

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Thanks and Warm Regards,

 Divya Lal

Company Secretary 

Bangalore

 

   

[Muniraju CN]

Hi,

Instead of applying for duplicate shares for the reason lost, collect the letter from the shareholder for issuing duplicate share certificate for the reason (Mutilated, torn etc), in that case newspaper add is not required.

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Muniraju  C N

Company Secretary in Practice

No. 41 (New No: 12/41), 10th New Main Road,

25th Main, Kalappa Block,

Srinagar, Bangalore - 560050

Mob: 9986669760

[Ainesh Jethwa]

Then Does Multilated or Torn Certificate require to submit to the Company ?

[Muniraju CN]

Not mandatorily required, its the discretion of the Board

[Ainesh Jethwa]

What if Board will demand for their record.
As lost certificate has lots of formalities and torn certificate has not much requirement.

I think if it is closely held Private company then its OK otherwise, we have to follow procedure for lost certificate.

[ACS DIVYA LAL]

Thanks a lot for the suggesstions.. its a listed Company..... and we have already received the affidavit indemnity bond from teh shareholder.