Issue of duplicate share certificate
This query is : Resolved
18 October 2011
Dear Experts,
We are a public ltd co. with about 800 shareholders. had issued shares way back in 1968.
now the promoters of the Company are purchasing the shares of other shareholders.
However many of the shareholders who are also ex employees of the company have lost there share certificates.
the value of these shares are hardly about Rs. 500 to Rs. 1000.
hence all are not ready to follow the procedure for issue of duplicate share certificate as the cost is much higher than its value.
Can the Company waive the requirement of Public Notice and Indemnity in this case.
As if these shares are transferred, then a lot of cost to the Company can be saved due to reduction in number of shareholders.
kindly guide how company can go ahead with issueing duplicate share certificates...
We are a public ltd co. with about 800 shareholders. had issued shares way back in 1968.
now the promoters of the Company are purchasing the shares of other shareholders.
However many of the shareholders who are also ex employees of the company have lost there share certificates.
the value of these shares are hardly about Rs. 500 to Rs. 1000.
hence all are not ready to follow the procedure for issue of duplicate share certificate as the cost is much higher than its value.
Can the Company waive the requirement of Public Notice and Indemnity in this case.
As if these shares are transferred, then a lot of cost to the Company can be saved due to reduction in number of shareholders.
kindly guide how company can go ahead with issueing duplicate share certificates...
CS Pawan Kumar Baid
(Expert)
25 October 2011
Waiver of requirement of public notice and indemnity bond is upto BoD.
As Share certificate creates estoppel as to money paid and ownership, if later on any problem arise, directors will be deemed to be guilty of gross negligence.
As Share certificate creates estoppel as to money paid and ownership, if later on any problem arise, directors will be deemed to be guilty of gross negligence.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
