If you ever find yourself in a position where you need assistance in obtaining duplicate share certificate, you’re not alone. Sometimes, share certificates, which are evidence of ownership in a company, get lost, damaged, or destroyed. But don’t worry. Regaining your ownership rights is an easy and fast process.
This blog post will cover the steps for Obtaining Duplicate Share Certificate and provide some essential advice to help you get started.
What is a Duplicate Share Certificate?
Let’s first clarify what a duplicate share certificate is before getting started. Simply put, it is a replacement certificate that the company issues to shareholders in the event that the original is misplaced, stolen, or destroyed. It symbolizes your ownership interest in the company and is as equally legal as the original.
Obtaining duplicate share certificate is the process of requesting this replacement certificate, which ensures you retain your legal ownership rights in the company.
Step-by-Step Procedure for Obtaining Duplicate Share Certificate
Here is an easy-to-follow, straightforward procedure that will assist you in obtaining duplicate share certificate:
1. Report the Loss to the Company
To obtain a duplicate share certificate, you must first formally notify the firm of the loss. Writing a letter to the company’s shareholder services department or registrar is typically how this is accomplished.
Include information such as your name, address, share count, and the reasons for the loss in the letter. Remember to include your shareholding’s unique identification number, also known as the folio number.
2. File a Police Report (if Required)
In certain situations, the company might ask you to report the theft of the share certificate. The police report provides evidence that the share certificate was not simply lost; instead, it was missing under questionable circumstances. This step is an important part of the process, even though it is conducted more often in theft situations.
3. Submit an Indemnity Bond
When obtaining duplicate share certificate, shareholders are typically requested to sign an indemnity bond to shield the company from any future issues. This bond is a formal contract that guarantees you will be held accountable in the event that the original certificate is located or someone else asserts ownership.
4. Affidavit and Newspaper Advertisement
Companies may occasionally ask you to provide an affidavit attesting to the loss of the share certificate. Your local newspaper may also need to run an ad alerting the public to the loss. This is a preventative step to make sure the shares don’t have any bogus claims.
Read Also- What You Need to Know About Shares Moved to IEPF?
5. Submit the Required Documents
You must submit the following paperwork with the indemnification bond and affidavit:
- Your PAN card (for identity verification) is in copy form.
- A duplicate of the first share certificate, in case it is partially damaged.
- Evidence of ownership, such as transaction information (if applicable).
6. Pay the Fees
Most companies charge a small fee for issuing duplicate share certificates. The cost is generally inexpensive, though the exact pricing varies. Verify the business’s duplicate certificate policy and add the payment in accordance with their guidelines.
7. Wait for the New Certificate
The company will handle your request after you have paid the required fees and provided the required documentation.
The time it takes to issue a duplicate certificate can vary, but it usually ranges from a few weeks to a couple of months. You can follow up if needed within this time after receiving confirmation of your application.
Things to Keep in Mind While Obtaining Duplicate Share Certificate
Here below are pointers to keep in mind while obtaining duplicate share certificate.
1. Accuracy of Information
Verify that the forms contain all of your personal information, including your name, address, and folio number. Any differences could cause the procedure to drag on.
2. Legal Protection
Always get an indemnity bond notarized to protect both you and the company from future legal issues.
3. Company-Specific Procedures
You should always check the official website or company registrar to confirm the precise criteria, as different firms may have somewhat different processes.
4. Monitor the Status
Contact the registrar again if you haven’t received your duplicate share certificate within the expected time frame. It can be helpful to have a reference number for your application.
Final Words
Obtaining duplicate share certificate is not as difficult as you may imagine, even though losing one can be a pain. To guarantee a smooth and speedy settlement, we at Share Claimers assist you through each step.
Just notify the company of the loss, provide the necessary paperwork, such as an affidavit, indemnity bond, and identification evidence, and pay the nominal processing charge.
After that, the company will provide your replacement certificate, typically in a matter of weeks. Regaining your ownership rights and protecting your investments is easy when Share Claimers are on your side.
FAQs
Q1. What is the procedure to get a duplicate share certificate?
Ans. Send a signed indemnification bond, an affidavit, a newspaper article (if necessary), and evidence of ownership to the corporation along with your request for verification.
Q2. What is the time limit for issuing duplicate share certificates?
Ans. After receiving the documentation, a listed company has forty-five days to issue the duplicate share certificate.
Q3. Is FIR Mandatory for Duplicate Share Certificates?
Ans. Although it helps prevent misuse, filing an FIR is not required unless the certificate is lost or stolen. However, some companies may need it for security reasons.
Q4. How to Claim an Old Share Certificate?
Ans. If you have an old, unclaimed share certificate, contact the company’s registrar to find out its current status and, if necessary, obtain a new certificate or revalidation.
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