Neha Jain (Management Trainee) (24 Points)
21 August 2012Can anybody help me with the procedure of Issue of Fresh Share Certificate in case one have purchased an exixting co. in 2004 and does not have any of the old share certificates till 2009? Now the company wants to issue new share certificates as per the shareholders list of 2009 and cancel all the old share certificates.
Swagatam Khandelwal
(Company Secretary)
(107 Points)
Replied 23 August 2012
You can do the following:
1. pass a Board Resolution explaining that the company has received requests from shareholders that the old share certificates has been torn & hence there is a necessity to issue fresh certificates. The Company can pass a resolution mentioning that all the old share certificates are cancelled & the Company will issue new series of certificates. As such you can issue certificates only to the existing shareholders;
2. send letter to each shareholder requesting to surrender their old share certificates(s);
3. Issue Fresh Share Certificates to existing shareholders
However in case your company is a listed company, prior approval of stock exchange is required & the notice is to be published in the newspaper.
CAclubindia
