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Share certificate

248 views 1 replies

Venkatesh Dangeti

CA Final

885 Points Posted on 19 March 2017

Provided that in case a company does not have a common seal, the share certificate shall be signed by two directors or by a director and the Company Secretary, wherever the company has appointed a Company Secretary - AS PER THE COMPANIES (AMENDMENT) ACT, 2015

DEFAULT TABLE F CLAUSE- Every certificate shall be under the seal and shall specify the shares to which it relates and the amount paid-up thereon.

SHALL WE NEED TO ALTER SUCH CLAUSE IN TABLE F IN ORDER TO ISSUE SHARE CERTIFICATE WITHOUT COMMON SEAL ??

Replies (1)

Jaikishan V. Wadhwani

Company Secretary

154 Points Posted on 20 March 2017

Usually there is no such Claue in the Article of Association(Table F) But if Any Conpany Cantain such claues, then Yes the company Has to first Alter the Article of Association(Table F) To issue the share certificate. As Article of Association(Table F) is Considered as the internal constution of the company so Company cannot overrule any thing mention in the Article of Association(Table F).

Thus to issue share certificate without Common seal it need to Alter such claue in the Article of Association(Table F) , IF Any.