NEWS PAPER ADT FOR ISSUE OF DUPLICATE SHARE CERTIFICATE

[ravi hegde]

Dear Friends,

  One of our Shareholder lost his Share Certificate. Now he applying for Duplicate Share Cerrtificate.whethere news paper advertisement requires for Issuing Duplicate Share certificate????

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Best Regards,
Ravi Hedge
Cell 7760073100

[Lily Bali]

Dear Ravi

Yes ,

Step are like 

1.FIR

2.News paper advertisement

3. Indemnity bond from shareholder.

Warm Regards

CS Lily Bali

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[Vishwas Hegde]

Mr. Hegde,

 

Adding to the previous steps,

 

First get an intimation letter from that holder about the lost Certificate Details (Including His name,  Distinctive No, His Folio No. etc ) and then proceed further for FIR, Newspaper Advertisement, Indemnity bond from Shareholder.

 

Intimation is to inform the company about the lost certificate and thereby company can take an action to not enter any further transfers in those shares by any other person with a malafide intention.

 

Regards,

 

Vishwas Hegde 

[Sowmya Khushi]

Dear Ravi Hegde

Detail procedure for Issue of Duplicate Share Certificate and find the attachments of Draft resolution and format of Indemnity Bond and Affidavit 

1.      The Company Secretary shall get from the shareholder an indemnity bond, surety bond, copy of the FIR filed with the police and such other evidence as may be prescribed by the Board of directors for consideration of such request. Bank or insurance guarantee may also be required.

2.      It is usual to publish a general notice in a newspaper in the place of the registered office intimating the public of the loss of the share certificate and of the company's proposal to consider issue of a duplicate share certificate, in lieu of the one that is lost, in case no objection is received by the company within a prescribed time. Absence of response to unauthorized issuance of advertisements in newspapers cannot make the issue of duplicate share certificates valid or proper, particularly when the registered shareholder is alive at the time and the company is considering the application for registration of transfer of shares by him. [Pradip Kumar Sarkar v Luxmi Tea Co. Ltd. (1990)

3.      The cost of the publication of the general notice is normally borne by the shareholder.

4.      In the case of the smallness of value of the shares for which a duplicate share certificate is desired, the Board may, at its discretion, dispense with the costly procedure of publication of general notice and may be satisfied with the execution of an indemnity and surety bond and production of other evidence by the shareholder to establish the fact the share certificate has actually been lost.

5.      On receipt of compliance of the formalities, as required by the Board or Committee thereof, from the shareholder, and after expiry of the period specified in the general notice, and if the company does not receive any objection to its proposal, wherever applicable, the proposal for issue of duplicate share certificate will be placed at a meeting of Board or Committee.

6.      If the proposal is approved, such approval will be by way of a resolution, which will, inter alia, include approval for issue of new share certificate and will authorize two directors and Secretary or other person specified to sign the share certificate and affix common seal in their presence.

7.      The following words shall be written on the face of the duplicate share certificate "Duplicate issued in lieu of share certificate No..." and the word "Duplicate" will be stamped in bold letters across the face of the share certificate.

8.      Particulars of duplicate share certificates issued will be entered in the Register of Renewed and Duplicate Share Certificates indicating the name of the person to whom it is issued, the number and date of the new share certificate.

9.      The issue of duplicate share certificate will also be entered in the Register of members and the ledger folio of the concerned member indicated in "Remarks" column of the said Register of Duplicate Share Certificates.

10.   Intimation shall also be 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.

Sowmya.S

[CS Shainshad Aduvanni]

Dear Ravi,

The Procedure differs for Private, Public and Listed Companies.

For Private Company, Board is authorised to issue Duplicate Share Certificate without any Advertisement.

The Advertisement is normally published by Listed Companies when the loss is more than Rs.10,000 i.e.issue an advertisement in a widely circulated newspaper if the value of the shares is greater than Rs 10,000.

In case the Company/ STA issues duplicate share certificate based on any other documents, then the Company/ STA shall be solely responsible for the issue of such duplicate share certificates.

Regards

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CS Shainshad Aduvanni
Company Secretary
Coimbatore

09841414439

[santhosh kumar]

hi

you can skip the FIR, News paper advt

only a request letter and indemnity bond form will be enough.

if the party is known and you can consider the request with indemnity bond.

most of my company public limited unlisted shares were issued just on

indemnity bond & request letter.

regards

santhosh

On Wed, Jan 22, 2014 at 11:51 AM, Lily Bali <lilyb...@gmail.com> wrote:

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CS.M.Santhoshkumar
"From the man who always has a Good heart ! "

 

 

[ravi hegde]

Dear shainshad,

    Our Company is unlisted Public Company. Share value is Rs.2220(excluding premium Rs.8880).  

News Paper advertisement is mandatory?????

 

[ravi hegde]

Dear Friend,

   Thanks to all for quick responce.

I collected the FIR copy and indemnity bond. But News paper advertisement is mandatory or optional???

My Seniour told me its not required.

[Sowmya Khushi]

Dear Ravi Hegde

Advertisement is optional to unlisted public company and Mandatory for Listed public company.

In your case it is optional. 

Sowmya.S

[Ajay Kumar]

Agree with Mr. Santosh Kumar.

It is at Board's discretion how they take evidence for the loss of share certificate. 

And moreover Section 84(4) of CA 1956 & Companies (Issue of share certificates) Rules, 1960 does not specify anything about FIR & public Notice.

It is general practice of the Companies to call for FIR Copy, Public Notice, Affidavit & Indemnity Bond.

Regards

Ajay Kumar

[mgra...@gmail.com]

HI,

If it is a closely held-private limited company, and there is no bad intention, you can issue duplicate certificate without advertisement in news paper by taking proper indemnity.

If it is a Public company advertisement is MUST.

regards - gopalrathnam

[CS Shainshad Aduvanni]

Dear Ravi,

In this case it is not mandatory for advertisement. But ensure the other formalities like approval of Board,Indemnity Bond etc.,

Regards