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Issue of Share certificates

Resolutions 1585 views 2 replies

Ruchie Khanna

Company Secretary

123 Points Posted on 04 March 2010

Dear Professionals,

A public unlisted company has changed its name and regiatered office address. Now it propses to make these changes on the existing share certificates and has called for share certificates from its members.

My query is will stamp duty be payable on the new share certficates issued in lieu of old ones and is a board resolution sufficeint to to the new certificates.

Thanks & Reagrds,

Ruchie Khanna

Replies (2)

CS Snehal

Compliance Manager

346 Points Posted on 04 March 2010

Dear Ruchie,

There is no need to pay stamp duty. Or else it will be doubly stamped. On the share certificate you can mention, the new share certificate no_______ is issued in lieu of old certificate no______ consequent to change of name of the company and the certificate thereof and stamp duty of Rs.____ paid on _______.

Also, alternatively, print stickers and affix them on the old share certificates with the new name(effected from), registered address.

Eg: ABC Limited

(incorporated under the companies act, 1956)

Formerly: xyz ltd

Registered office:...........

Hope this clarifies.