Forged share certificate
This query is : Resolved
20 June 2012
Hi,
I wanted to know ......in case a transferee submits to the company a duly stamped and signed transfer deed along with share certificates for transfer of shares . Upon receipt it was discovered by the CS that the share certificates are forged and certificate numbers are not true as per the records of the company.....(1) What advise should a CS give to the transferee for an action that a transferee may take? (2)Also what in case the transferror upon knowledge of this case takes legal action against company who issued him the said certificates earlier and loss suffered due to receipt of forged certificate.
I wanted to know ......in case a transferee submits to the company a duly stamped and signed transfer deed along with share certificates for transfer of shares . Upon receipt it was discovered by the CS that the share certificates are forged and certificate numbers are not true as per the records of the company.....(1) What advise should a CS give to the transferee for an action that a transferee may take? (2)Also what in case the transferror upon knowledge of this case takes legal action against company who issued him the said certificates earlier and loss suffered due to receipt of forged certificate.
Amol S Joglekar
(Expert)
17 August 2012
Transferree (Purchaser) to take the call. CS has already done his/her duties of communicating the fakeness of the certificates. The holder in due course is the purchaser, the transferor (seller) can not pass a better title . Catch hold the seller.
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