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Issue Of Duplicate Share Certificate
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Procedure of Issue of Duplicate Share Certificate
- Claim Duplicate Shares
- Recover Lost Physical Shares
- Claim Paper Shares
- Claim Physical Shares in Demat
- Legal Compliance for Shares Claim
- Swift Resolution
- Exchange Old Share Certificate with New Shares
- Personalized Service
- Transparent Communication
- Dedicated Support
- Verified Documentation
Call us at +91 9099191140 for a better assistance
Procedure of Issue of Duplicate Share Certificate
- Claim Duplicate Shares
- Recover Lost Physical Shares
- Claim Paper Shares
- Claim Physical Shares in Demat
- Legal Compliance for Shares Claim
- Swift Resolution
- Exchange Old Share Certificate with New Shares
- Personalized Service
- Transparent Communication
- Dedicated Support
- Verified Documentation
Call us at +91 9099191140 for a better assistance
Issuance of Duplicate Share Certificates – A Step-by-Step Procedure:
If you need to acquire duplicate stock certificates, follow these step-by-step instructions:
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What is a Share Certificate?
A share certificate is a physical document that is issued by a company to its shareholders to serve as evidence of ownership of a specific number of the company's shares. Some important information it has is the name of the shareholder, the number of shares held, and information about the company. It is normally issued after the acquisition or transfer of shares.
A duplicate share certificate may be requested if the original shares are lost or damaged. In case you lose your share certificate, the process to obtain a duplicate one is not that simple; you have to apply to the company along with specified proof—in the form of an affidavit or FIR (in some cases). Once the application is verified and then approved, company will issue a new share certificate to the shareholder, replacing its original share certificate. The issue of a duplicate certificate grants shareholders the right to continue to exercise their ownership rights
- Best Award
What is a Share Certificate?
A share certificate is a physical document that is issued by a company to its shareholders to serve as evidence of ownership of a specific number of the company's shares. Some important information it has is the name of the shareholder, the number of shares held, and information about the company. It is normally issued after the acquisition or transfer of shares.
A duplicate share certificate may be requested if the original shares are lost or damaged. In case you lose your share certificate, the process to obtain a duplicate one is not that simple; you have to apply to the company along with specified proof—in the form of an affidavit or FIR (in some cases). Once the application is verified and then approved, company will issue a new share certificate to the shareholder, replacing its original share certificate. The issue of a duplicate certificate grants shareholders the right to continue to exercise their ownership rights
Importance of a Share Certificate
The share certificate stands as essential legal proof that confirms an individual's company stake. Shareholders need a share certificate as proof of ownership since it functions as the essential documentation to execute share transactions or transfers. An absent share certificate leads to difficulties when exercising shareholder rights, so immediate steps must be taken when shareholders either lose or damage their shares.
Consequences of Losing a Share Certificate
A lost share certificate will produce several detrimental effects that impact the ability to move ownership and prevent shareholders from receiving dividends and selling their shares. The loss of share certificate creates a vulnerability to fraud because unauthorized people could gain control of it. The law requires shareholders to report their lost shares immediately, after which they need to receive their duplicate share certificate to safeguard themselves legally and financially.
Preventive Measures to Avoid Loss of Share Certificates
Shareholders must take proactive precautions to protect against share certificate loss, which will eliminate both dealer inconvenience and financial and legal risks.
A secure bank locker stands as the recommended location to keep share certificates.
The original certificate should be copied either in digital form or as a physical document.
Stockholders need to move physical shares into the demat format to avoid losses in their share certificates.
Shareholders should document their entire share activity alongside holding all company correspondence.
What must be done after misplacing Share Certificates?
If a shareholder faces a loss of share certificate, they must notify the police and the relevant company as soon as possible. The shareholder has to provide the number of folios along with share certificate(s) and other details to the company for their reference purpose. The company shall ensure that the share transfer is frozen for at least 30 days from receipt of the notification of loss. Issue of duplicate share certificates will be initiated by companies once the identity of the shareholder is verified.
Documents Required for Duplicate Share Certificate
Under section 46 of the Companies Act 2013, duplicate share certificates can be obtained, and it is necessary to comply with Rule 6 of the Companies (Share Capital and Debentures) Rules, 2014 in the process. To apply for a duplicate share certificate, you would need to gather certain documents. These documents confirm the authenticity of the request and help the company process your application. The following are the documents needed:
Indemnity Bond
The indemnity bond on the non-judicial stamp paper absolves the company of any future liabilities arising from the original share certificate.
FIR Copy
Police FIR copy in case of loss or theft of share certificate. The FIR should contain the following information: Particulars of the lost certificate Name in the share certificate Folio number of the share certificate Number of shares in the share certificate Share certificate number
Affidavit
An affidavit attesting to the loss or destruction of the original share certificate.
Proof of Address and Identity Proof
Identity can be confirmed with the help of documents such as an Aadhar card, PAN card, or passport.
Original Share Certificate Copy
If possible, a photocopy of the original share certificate will be useful.
An old dividend Cheque Leaf
An old dividend cheque is useful to identify the investor’s identity for issuance of duplicate shares.
What must be done after misplacing Share Certificates?
In the event of losing the share certificate, it is important to notify both the police and the relevant company promptly. The shareholder should provide the company with the folio number and other details of the share certificate(s) for their records. Upon receiving notice of the loss or misplacement, the company will temporarily suspend share transfers for a minimum of 30 days to prevent any illicit or fraudulent activity. The company will start the process of issuing a duplicate certificate as soon as the shareholder’s identity is confirmed.
Connect With Our Expert for Recovery of Lost Shares
If a stakeholder’s unclaimed shares have been transferred to the IEPF, he/she holds the right to plead with the IEPF Authority for the return of those shares. However, a claimant can only file one consolidated claim per financial year for a particular company. The claim should include data from multiple folios belonging to the same company, which will be combined and processed together. Before submitting a claim to the IEPF authorities, the claimant must confirm that the company has completed the scrutiny of documents. Additionally, it should also have issued an entitlement letter to the original shares holder, registered shareholder’s legal heir, nominee, or successor as applicable.