Lost Your Share Certificates? Here's Your Step-by-Step Guide to get a duplicate one.
Lost Your Share Certificates? Here's Your Step-by-Step Guide to get a duplicate one.
Misplacing a share certificate can be daunting, but the Companies Act 2013 and the Companies [Share Capital & Debenture] Rules 2014 provide a clear framework for reclaiming it. By informing the company, filing an F.I.R, and providing the necessary documents, you can ensure the issuance of a duplicate certificate.
Losing a share certificate can be a cause for concern, but you have a structured legal pathway to address it. The Companies Act 2013, specifically Section 46(3), and the Companies [Share Capital & Debenture] Rules 2014, particularly Rule 6, lay out the process.
Firstly, you must file an F.I.R with the police.
You should mention details like your name, company's name, folio number, and share certificate number, in the FIR application.
Second, you should promptly inform the company about the loss.
You can inform the company via post, courier, or electronically.
Ensure you provide all pertinent details, including
-> your name, folio number, and share certificate number.
-> FIR details and copy
-> Share allotment letter.
If you have lost your share allotment letter then the company, under Rule 6(3)(c) of the Companies [Share Capital & Debenture] Rules 2014, can ask for additional evidence.
Third, Pay Fees:
The company may charge you upto ₹50 for issuing a duplicate share certificate.
From the company's side,
Upon receiving your intimation, they'll initiate the process to issue a duplicate share certificate.
The company's board will need to approve this issuance, as per Section 46(2) of the Companies Act 2013.
Once approved, the company will issue the duplicate certificate, marking it as "duplicate" and recording all necessary details in their Register of Members, as mandated by Rule 6(3)(d).
The time limit for the issuance of a duplicate share certificate varies.
-> For unlisted companies, it's within 3 months, and
-> for listed companies, it's within 45 days from the date of submission of all required documents, as per Rule 6(3)(e).
In conclusion, while the loss of a share certificate can be unsettling, you have a clear legal pathway to reclaim your ownership. Ensure you adhere to the steps and provide all the necessary documentation.
PS: You should follow the similar process if you need a new/duplicate certificate for any other reason. For example - your share certificate is defaced, damaged, torn, aged, or deteriorated. However, you should definitely submit the original certificate to the company in this case.
The board will consider various factors, such as the condition of the original certificate and any associated fees.
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