Shareholder folio number

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2012 Dear Sir/Madam,

Can a Company change the folio numbers of all its shareholders on any event (E.g. Bonus, Split, Issue etc)??

Ajay Mishra

Ajay Mishra (Expert)
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12 December 2012 Hi

No, you can not change the folio number once alloted till the transfer of shares of that shareholder. Folio number is Identification number of that shareholder and on the basis of folio number the details are maintained by the company.

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Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2012 Thanks much Ajaysir..!!! One more thing regarding it, if mistakenly the company has allotted the new one then what can it do to rectify it? and are there any penal consequences specified in the act?

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2012 Follow up: New folio numbers are allotted to all the shareholders.

Ajay Mishra

Ajay Mishra (Expert)
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12 December 2012 Hi

Yes, you will rectify this if the time period of issue of share certificate under section 113 has not expired.

The Act is silent on penal provisions for doing such type of mistake.

Ajay Mishra

Ajay Mishra (Expert)
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12 December 2012 You can not have two folio number of a single shareholder. you will send the details of shareholders on annual basis to ROC in Annual Return in Form-20B.

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2012 Ok sir. Thanks. Best Wishes.

Ajay Mishra

Ajay Mishra (Expert)
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12 December 2012 My pleasure...........................

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