a company XYZ Ltd had shares of FV 100, which later on splited in Fv of 10 each. will the distinctive no of new certificate will start from 01 or after last number used earlier.
also incase the distinctive no of new certificate start from incontinuance after the last number used earlier, the total distinctive noumber of shares will cross the total authorised share capital of the company, is it allowed
Distinctive Nos. will be from 1 only
Share certificate Nos. will be in continuation of Nos. of old certificates.
There is no any such Rule that from where the distictive numbers of share should be started i.e. to use incontinuation of old number or to use new number that is to say from 1,you may use as per yourr convenience. For subdivision of the face value of your share capital First you need to amend your Authorised capital clause in the Memorandum of Association and after that you can effect to the distinctive number. In doing so the distictive number will not go beyond the Authorised capital l clause as mentioned in the Memorandum of Association.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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