Share Certificate - Split up

Neeta (Finance) (345 Points)

25 March 2010  

Hello members

Plz confirm me on this issue - A company had issued share certificates , say , each certificate of 100 shares and afterwards the holder transfer the 20 shares to B , he executes properly Transfer deed , but since there is one certificate of 100 shares , physically shares were not handelled to B . now each one wants the share certificates respective of their holdings .

the procedure : to go for split up of shares , showing simply in the minutes that the shares being split up and transfer shown  ( tell me how it shud be numbered , i mean the certificate of 100 shares is if numbered as 1 then after split up what shud be the number of certificate carrying 80 shares and that carrying 20 shares , is it 2 and 3 respt ? )

is der any other requirement , plz give me the relevant section in companies act

also plz provide the draft resolution for split up or cancellation and transfer .

thanks and regards