When any member of the co-operative societies, misplaces his/her share certificate and when he/she applies for duplicate share certificate, the society asks its members to give public notice ad in the newspaper informing the public the loss of the share certificate.
If you have lost or misplaced your share certificates of any listed company, you need to immediately inform the respective company of which you had the shares. You also need to quote the folio number and details of share certificates to the company for their reference. When a company receives an intimation that you have lost the shares, the folio number or the details provided to the company are frozen—in lieu of the lost one. This is done by the company to prevent any fraud or transfer of shares.
The company then sends you the procedure on how to issue duplicate share certificate. The company in a letter mentions how to carry out the procedure for issue of duplicate certificates. You will then have to prepare an affidavit, indemnity bond agreement with franking of around Rs. 300. You also need to get the affidavit & surety bond notarised. Remember to get the duplicate share certificate, it is essential to provide an indemnity and surety bond.
Upon receipt of these completed documents, you will have to file an FIR with the police listing details of lost share certificates such as the folio no., company name, share certificate number and distinctive number of shares, etc.
You now need to publish a general notice in a government gazette declaring the loss of share certificates. It is usual to publish a general notice in a government gazette. The cost of the publication of the general notice is normally borne by the shareholder. You should send the documents to the company/registrars for the issue of duplicate share certificates accompanied by, affidavit, indemnity & surety bond and original copy of FIR of police complaint reporting a loss of share certificates and voucher copy of advertisement released in the government gazette publication regarding the loss of share certificates.
After verification of the documents submitted, the company/registrars will process the requests for duplicate issue of share certificate. The process take six weeks for the shareholder to receive duplicate. Keep in mind that for every issue of duplicate share certificate, prior resolution of the company board or a committee is essential.
Disclaimer: Please note that the contents of this blog have been provided for informational purposes only and are not intended to replace legal advice.
