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Explain Certificate of shares

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 sonu soni asked over 2 years ago

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3 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 megha answered over 2 years ago

hello, A share certificate is a written document signed on behalf of a corporation, and serves as legal proof of ownership of the number of shares indicated. Shares certificates are issued by companies who offers shares. The holder name of such certificate appear in the register of members.

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Open uri20170510 32134 1c996lj?1494421732 Anil answered over 2 years ago

As per Section 46 of Companies Act 2013 (1) A certificate, issued under the common seal of the company, specifying the shares held by any person, shall be prima facie evidence of the title of the person to such shares. (2) A duplicate certificate of shares may be issued, if such certificate — (a) is proved to have been lost or destroyed; or (b) has been defaced, mutilated or torn and is surrendered to the company. (3) Notwithstanding anything contained in the articles of a company, the manner of issue of a certificate of shares or the duplicate thereof, the form of such certificate, the particulars to be entered in the register of members and other matters shall be such as may be prescribed. (4) Where a share is held in depository form, the record of the depository is the prima facie evidence of the interest of the beneficial owner. (5) If a company with intent to defraud issues a duplicate certificate of shares, the company shall be punishable with fine which shall not be less than five times the face value of the shares involved in the issue of the duplicate certificate but which may extend to ten times the face value of such shares or rupees ten crores whichever is higher and every officer of the company who is in default shall be liable for action under section 447.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Abhishek Sahoo answered over 2 years ago

A SHARE CERTIFICATE is a document of title issued by the company declaring that the person named therein is the owner of a specified number of shares in the capital of a company. # Simply it means,Shares certificate means a TITLE DEED which contains name of shareholders which is a proof that they are the owner of specified number of shares of the issuing company. #Shares certificates are issued by all companies who offers shares. #The holder name of such certificate appear in the register of members. # Such certificates are not freely transferable , it take time to transfer share certificate. #No dividend coupon are attached to such certificates.

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