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Second shareholder name

Pvt ltd 737 views 3 replies

BHAVINI SHAH

Company Secretary

193 Points Posted on 30 May 2012

Dear friends,

I have a query.......

During allotment of shares the second holder name (joint names) was not mentioned and share certificates were printed with just the first holder name.
Later the shareholder decided to have a second holder added for the said shares.
CAN IT DO SO BY MERELY GETTING THE SECOND HOLDER NAME TYPED ON THE CERTIFICATES? OR some other procedure also needs to be followed?

Kindly advice from the provisions of corporate law.

Replies (3)

Nidhi Salampuria

Company Secretary & Complaince Officer

48 Points Posted on 30 May 2012

it is similar to tranfer of shares. the (1st share holder) will be transferor and the (1st & 2nd share holder together) will be transferee.

BHAVINI SHAH

Company Secretary

193 Points Posted on 30 May 2012

But since its just a matter of accidental omission of second holders name. Then why do we have to go for transfer?

cant we simply have the secondholder name printed on the same share certificate? as the folio number in the statutory register remains the same.

Nidhi Salampuria

Company Secretary & Complaince Officer

48 Points Posted on 30 May 2012

is it a pvt co?? if i am not mistaken, in pvt co's allotment is done by board's approval. So if the resolution mentioned joint holder's name , then you can mention it on the share certificate. also if i am not mistaken, share certificates are printed and names are written on the manually on share certificate when allotment happens. so you can include it.