Share certificates- new and old
This query is : Resolved
01 January 2015
The Companies Act 2013 prescribed Share Certificate form No.SH-1. The shares allotted after 1.4.2014 will be issued in SH-1. But for the existing shares which were already alloted and share certificates issued-is it required to cancel the old ones and issue certificates in the New SH-1. Please clarify.
CS Mitesh Mehta
(Expert)
02 January 2015
No need to issue share certificate in format SH-1.
Companies (Share Capital and Debentures ) Rules, 2014 has given the flexibility to the management to have their own format but as near as possible to Form No.SH.1 but shall state particulars such as
i. Name of the person in whose favour the certificate is issued
ii. the shares to which it relates (such as Folio No, SC No and the Distinctive Nos) iii the amount paid up per share.
Companies (Share Capital and Debentures ) Rules, 2014 has given the flexibility to the management to have their own format but as near as possible to Form No.SH.1 but shall state particulars such as
i. Name of the person in whose favour the certificate is issued
ii. the shares to which it relates (such as Folio No, SC No and the Distinctive Nos) iii the amount paid up per share.
02 January 2015
So you mean there is no requirement to issue new share certificates in place of old certificates and to cancel the old certificates. Pl clarify.
CS Mitesh Mehta
(Expert)
03 January 2015
yes no need to issue new certificate in place of old certificate and to cancel old certificate
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