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Share certificate

Gargi Ranade (CS) (619 Points)

04 June 2013

Dear All,

When should franking of the share certificate has to be done ? is it after Board Meeting date for allotment & issue or before board meeting for issue and allotment?

Regards,

Gargi

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4 Replies

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 04 June 2013

Stamp duty has to be paid on or before execution of the instrument. Hence you should get franking done before the date of signing share certificate by the directors as mentioned on the face of the certificate.

CA Kedar Sakhardande (Proprietor) (942 Points)
Replied 04 June 2013

It should be after the board meeting approval for transfer of shares

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 04 June 2013

Sir,

1) Query is for allotment of shares and not for transfer of shares.

2) Even in case of transfer of shares, after approval by the Board, transfer is over. Now who has to pay duty and for what? Kindly clarify.

Thanks