Share certificate
This query is : Resolved
PALLAVI SOMANI
(Querist)
22 February 2012
hello friends......
i wanna knw dat if a director can sign a share certificate or its been done only by chaiman & managing director..?
i wanna knw dat if a director can sign a share certificate or its been done only by chaiman & managing director..?
Charu Srivastava
(Expert)
22 February 2012
According to Companies (issue of Share Certificate) Rules 1960
Every share certificate shall be issued under the seal of the company, which shall be affixed in the presence of
(i)two directors or persons acting on behalf of the directors under a duly registered power-of-attorney ; and
(ii)the secretary or some other person appointed by the Board for the purpose. The two directors or their attorneys and the secretary or other person shall sign the share certificate.
Provided that, if the composition of the Board permits of it, at least one of the aforesaid two directors shall be a person other than a managing or whole-time director.
Explanation.-For the purpose of this rule, a director may sign a share certificate by affixing his signature thereon by means of any machine, equipment or other mechanical means such as engraving in metal or lithography but not by means of a rubber stamp, provided that the director shall be responsible for the safe custody of such machine, equipment or other material used for the purpose.
Every share certificate shall be issued under the seal of the company, which shall be affixed in the presence of
(i)two directors or persons acting on behalf of the directors under a duly registered power-of-attorney ; and
(ii)the secretary or some other person appointed by the Board for the purpose. The two directors or their attorneys and the secretary or other person shall sign the share certificate.
Provided that, if the composition of the Board permits of it, at least one of the aforesaid two directors shall be a person other than a managing or whole-time director.
Explanation.-For the purpose of this rule, a director may sign a share certificate by affixing his signature thereon by means of any machine, equipment or other mechanical means such as engraving in metal or lithography but not by means of a rubber stamp, provided that the director shall be responsible for the safe custody of such machine, equipment or other material used for the purpose.
Charu Srivastava
(Expert)
22 February 2012
keeping in view the above rules..
two directors or their attorneys and the secretary or other person shall sign the share certificate.
Provided that, if the composition of the Board permits of it, at least one of the aforesaid two directors shall be a person other than a managing or whole-time director.
two directors or their attorneys and the secretary or other person shall sign the share certificate.
Provided that, if the composition of the Board permits of it, at least one of the aforesaid two directors shall be a person other than a managing or whole-time director.
PALLAVI SOMANI
(Querist)
22 February 2012
it means if M.D. & chairman r nt dere den 2 directors of d company can sign d share certificate.......
Ajay Mishra
(Expert)
22 February 2012
Hi Pallavi
The Share Certificate can sign by two director and one authorised Signatory/Company secretary.
MD also includes in director but chairman is not so share certificate will be sign by following in your company:
1. Managing Director
2.Director
3. CS (if CS is not then authorised signatory)
Under the seal of the company.
Regards
The Share Certificate can sign by two director and one authorised Signatory/Company secretary.
MD also includes in director but chairman is not so share certificate will be sign by following in your company:
1. Managing Director
2.Director
3. CS (if CS is not then authorised signatory)
Under the seal of the company.
Regards
Message likes :
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Charu Srivastava
(Expert)
22 February 2012
Yes,both the directors can be can sign the certificate along with Secretary or any other person authorised.
PALLAVI SOMANI
(Querist)
22 February 2012
thanx freinds.....got my ans....
Guest
Guest
(Expert)
22 February 2012
MS. CHARU IS RIGHT. AGREE WITH HER.
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