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Issue Of Duplicate Share Certificate
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Procedure of Issue of Duplicate Share Certificate
- Streamlined Process
- Legal Compliance
- Swift Resolution
- Expert Guidance
- Verified Documentation
- Secure Transactions
- Personalized Service
- Transparent Communication
- Dedicated Support
- Hassle-Free Experience
Call us at +91 9099191140 for a better assistance
Procedure of Issue of Duplicate Share Certificate
- Streamlined Process
- Legal Compliance
- Swift Resolution
- Expert Guidance
- Verified Documentation
- Secure Transactions
- Personalized Service
- Transparent Communication
- Dedicated Support
- Hassle-Free Experience
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 legal document that confirms a shareholder’s ownership of shares in the profits of a company. It serves as conclusive proof of the shareholder’s title to the shares. In the event of misplacing the original share certificate by its holder, the company will provide a replacement share certificate or in other words duplicate copy of the original one.
If an individual loses their share certificate, the shareholder may suffer significant financial losses since in the event of loss of certificate it cannot be encashed by the investor. To prevent any undue harm to the investors of Indian stock market, the Companies Act of 2013 has provisions for issuing duplicate share certificates. These provisions can be found in Section 46 and Rule 6(2)(a) to (c) of the Companies (Share Capital and Debentures) Rules of 2014.
- Best Award
What is a Share Certificate?
A share certificate is a legal document that confirms a shareholder’s ownership of shares in the profits of a company. It serves as conclusive proof of the shareholder’s title to the shares. In the event of misplacing the original share certificate by its holder, the company will provide a replacement share certificate or in other words duplicate copy of the original one.
If an individual loses their share certificate, the shareholder may suffer significant financial losses since in the event of loss of certificate it cannot be encashed by the investor. To prevent any undue harm to the investors of Indian stock market, the Companies Act of 2013 has provisions for issuing duplicate share certificates. These provisions can be found in Section 46 and Rule 6(2)(a) to (c) of the Companies (Share Capital and Debentures) Rules of 2014.
Solution: Apply for Duplicate Share Certificate in case your shares are lost, stolen, torn or mutilated
A share certificate serves as evidence of one’s legal ownership of shares. It holds significance for those who have acquired tangible shares. Losing the share certificate would result in the loss of evidence of ownership. As a result, obtaining a duplicate copy of the share certificate is crucial. Nonetheless, before delving into the process of obtaining a duplicate copy, it is essential to comprehend the legal compliances associated with it.
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.