Common seal
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 June 2013
A private company having its registered office in India conducted its Board Meeting Abroad at Abu Dhabi on 19th june 2013 for allotment of share and issue of new share certificates. Now the query is,
a. what will be the place shown for "Given under the Seal of the Company on ____(Date) and ______ (place)".
b. Can the common seal be taken outside India?
Section 50 provides that- A company whose objects require or comprise transactions of business outside India may have for use in any territory, district or place not situated in India an official seal, which shall be a facsimile of the common seal.
But in share certificate we need to affix common seal and not
a facsimile of the common seal or office seal.
Can below given procedure be the solution?
to pass the resolution for allotment and issue share certificate abroad and to show a later date in the share certificate FOR the date of affixing common seal AND the place of registered office being TVM as the place of such issue as "TVM"
a. what will be the place shown for "Given under the Seal of the Company on ____(Date) and ______ (place)".
b. Can the common seal be taken outside India?
Section 50 provides that- A company whose objects require or comprise transactions of business outside India may have for use in any territory, district or place not situated in India an official seal, which shall be a facsimile of the common seal.
But in share certificate we need to affix common seal and not
a facsimile of the common seal or office seal.
Can below given procedure be the solution?
to pass the resolution for allotment and issue share certificate abroad and to show a later date in the share certificate FOR the date of affixing common seal AND the place of registered office being TVM as the place of such issue as "TVM"
23 June 2013
Seems the suggested procedure will not suffice, because to do so there should be a enabling provision in the A.O.A. However, you may go through Secretarial Standard-8 (SS-8) of ICSI and think about the procedure given in clause 6 therein.
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