Splitting of share certificates

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Priya (Querist)
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25 January 2013 Dear Sir

How can an unlisted public company restrict splitting of share certificates requested by shareholders?

Ajay Mishra

Ajay Mishra (Expert)
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25 January 2013 Hi
Generally Company can not restrict shareholder for splitting of its shares on requeset please check what ur articles sayys on it. p

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Priya

Priya (Querist)
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25 January 2013 sir, the relevant rule of my article says:

every member shall bee entitled to, free of cost, one of more certificates for all the shares of each class registered in his name in marketable lots, or if the Board so approves to several certificates each for one or more of such shares, but additional certificates may be issued on payment of such fee not exceeding Rs. 1 or as the board may deem fit.

as per my analysis, our AOA allows very easy splitting of share certificates. am i taking it correct?

pl advice sir

Ajay Mishra

Ajay Mishra (Expert)
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25 January 2013 Yes, you are right, your articles permit for spliting on nominal payment. So u can not refuse to do spliting.

Priya

Priya (Querist)
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25 January 2013 thank you sir.

Ajay Mishra

Ajay Mishra (Expert)
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25 January 2013 Yes, you are right, your articles permit for spliting on nominal payment. So u can not refuse to do spliting.

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