Share Certificates consequent to company name change

This query is : Resolved

Guest

Guest (Querist)

03 January 2010 ABC Private Limited issued share certificates with date 30.09.09.

Now, ABC is changed to XYZ on 31.10.09.

Vide Board Meeting dated 15.11.09, Company takes a decision to issue certificates with changed name of the company after collecting back the old certificates.

Query :

When the company issues Share Certificates in the new name 'XYZ', what date should be mentioned in the Certificates. That is, whether the date should be '15.11.09' (valid) or the old date '30.09.09' (invalid).

Experts' may express their views.

Thank you for the response in advance.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 January 2010 Date of the share certificate should be 15/11/2009. The share certificate shall also state on the face of it and against the stub or counterfoil to the effect that it is "issued in lieu of share certificate no... replaced consequent to the change in name of the company".

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Guest

Guest (Expert)

04 January 2010 Date on the face of share cert shall be 15.11.2009.

Moreover pl note that:
1. You are required to mention after the new name of the company on the share cert within bracket (Formely known as ABC Pvt Ltd)

2. Issued in liew of share cert no. ___ consequent to change of name of the company.

My Query in this regard is :

Whether we have to pay stamp duty again on the issue of new certificate or stamp duty paid at the time of issue of old cert is enough ?

Esteemed experts are requested to reply.

With Regards,
Neha Jain
nehajaincs@gmail.com

Message likes : 1 times

Ankur Garg

Ankur Garg (Expert)
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04 January 2010 The action taken by the company was not required i.e. holding of BM on 15.11.09 to re-issue share certificate. Prepare stickers of new name of the company and send then to the shareholders.

Shareholders may paste the same over the old name of the company on the share certificate. This is 100% a valid course of action.

Best Regards

Message likes : 5 times

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