Companies Act, 1956

Section - 115 - Share warrants and entries in register of members

Share warrants and entries in register of members.

115. (1) On the issue of a share warrant, the company shall strike out of its register of members the name of the member then entered therein as holding the shares specified in the warrant as if he had ceased to be a member, and shall enter in that register the following particulars, namely :—

         (a)  the fact of the issue of the warrant;

         (b)  a statement of the shares specified in the warrant, distinguishing each share by its number; and

          (c)  the date of the issue of the warrant.

(2) The bearer of a share warrant shall, subject to the articles of the company, be entitled, on surrendering the warrant for cancellation and paying such fee to the company as the Board of directors may from time to time determine, to have his name entered as a member in the register of members.

(3) The company shall be responsible for any loss incurred by any person by reason of the company entering .... To read the full section download the app from Google Play store