IF THE SHARE CERTIFICATE ARE TORN THEN CAN IT POSSIBLE TO ISSUE DUPLICATE SHARE CERTIFICATE IN LIEU OF OLD CERTIFICATE. AND DO WE HAVE TO PAY STAMP DUTY ON THT DUPLICATE SHARE CERTIFICATE??? IF NO THEN WHAT IS THE EVIDENCE ABOUT PAYMNET OF STAMP DUTY ON ORIGINAL SHARE CERTIFICATE COZ THEY ARE TORN AND AFTER SURRENDER OF ORIGINAL SHARE CERTIFICATE THEY WLL BE DESTROYED BY THE COMPANY. ???? PLZ LET ME KNW ABT THT AS SOON AS U CAN
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ISSUE OF DUPLICATE SHARE CERTIFICATE
Replies (1)
Dear Khushboo,
YES, if the share certificates are torn DUPLICATE share certificates can be issued in lieu of the old share certificates. As far as stamp duty is concerned it is payable only on transfer of shares, however the share certificate issued in lieu of old ones must bear the revenue stamp on each one of them of re. 1 per 1000 of face value. the certificate so issued must bear on the face of it "ISSUED IN LIEU OF SHARE CERTIFICATE NO. ______ and all the provisions of the companies (issue of share certificates) Rules 1960 relating to issue of duplicate share certificates shall be complied with.
Regards
VAIBHAV
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