Share transfer

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indrani (Querist)
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18 July 2012 Hi,

As a normal practice form 7 B is filed for transfer of shares. my query is if the form 7 B is lost then the section 108 (1) gives the privilege to get a declaration with the respective stamp duty affixed from the parties that the form has been lost and to consider the transfer.

could any one provide me the format of that declaration that can be used in the place of form 7 B.

Adv. Rajesh Chhangani

Adv. Rajesh Chhangani (Expert)
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18 July 2012 Sec 108 (1) provides the privilege only incase of lost of SHARE CERTIFICATE, one should file Indemnity Bond by affixing stamp duty on it;
following is the general format of Indemnity bond required in such case;

INDEMNITY BOND FOR DUPLICATE CERTIFICATE

To,

Name and address of the company

Folio No.----------------

I/We held Inter alia------------- Equity Shares of the face value of RS___/- each in
______________________________ as per details below:

------------------------------------------------------------------------------------------------------------
Share Certificate No. of Equity Distinctive Nos.
No.(s) Shares
------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------
The Share Certificate(s) in respect of the said shares has/have been lost and it is/they are not in my/our possession / forthcoming. The said Share Certificate(s) was/were not accompanied by any blank transfer deed(s) signed by me/us and that I/we have not, nor has any person by my/our order in any manner disposed of, parted with or, pledged the said certificate(s) or assigned my/our interest therein or any part thereof to any person. I/we am/are the sole and absolute owner(s) of the shares covered by the said share certificate(s) and shall cause the same to be surrendered to the company, if and when the same is/are found.

I/We, therefore request to issue a duplicate of the said Share Certificate(s).

2…….

In consideration of the Company so doing, I/We do hereby indemnify the Company and bind myself/ourselves, my/our heirs, executors and administrators to pay all claims, charges, costs, damages, demands, expenses and losses, which the said Company, may sustain, incur or be liable for in consequence of having issued duplicate certificate(s) at my/our above said request/

The company may realise the said claims, charges, costs, damages, demands, expenses and losses from me/us personally or my/our heirs, executors or administrators or my/our properties as the case may be.

IN WITNESS WHEREOF I/We have signed this--------------day of ------------------- one thousand nine hundred And ninety-------------------

Place:
SIGNATURE (S)
Witness No. 1
-----------------
Name in Block Letters:
Full Address:

Signature:

Witness No.2
-----------------
Name in Block Letters:
Full Address:

Signature:

Notes:
--------
1. In case of joint holdings all the shareholders should sign.
2. Strike out whichever is not applicable.

indrani

indrani (Querist)
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18 July 2012 Thank you sir. I find that the indemnity bond is for duplicate share certificate however it would be great full if any one could share with me the declaration for lost of share transfer form 7 B.

Adv. Rajesh Chhangani

Adv. Rajesh Chhangani (Expert)
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18 July 2012 As per my opinion, if signed transfer deed has been lost, then one should affix the same stamp on simple written application (act as a declaration) to BOD. In such case the board may register the transfer on such terms of indemnity as it thinks fit.
Answer of other experts are welcome.

Regards
Adv Rajesh

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