Loss or destruction of a share certificate does not extinguish a shareholder's title to the shares. The Companies Act, 2013 and the regulations of the Registrar and Transfer Agent provide a defined procedure for obtaining a duplicate certificate. FISC manages the entire process, from publication of the requisite notice to receipt of the duplicate certificate.
Under Section 46(2) of the Companies Act, 2013, a company may issue a duplicate certificate in the place of one that has been proved to have been lost or destroyed. The process is governed by the company's Articles of Association and the requirements of its RTA. It is time-sensitive insofar as delay increases the risk of the original certificate being misused or of the shares being dematerialised fraudulently.
The first step is to lodge an FIR with the local police station reporting the loss. Simultaneously, a public notice is published in at least two newspapers, one in English and one in the regional language of the registered office of the company, giving public notice of the loss and calling for objections within a specified period. Following the notice period, an indemnity bond and affidavit are prepared and submitted to the RTA along with the prescribed application and fee. Subject to the RTA's satisfaction, a duplicate certificate is issued. The original, if found subsequently, becomes void.
FISC guides the shareholder through each step of this process. We draft the public notice and arrange for its publication in the requisite newspapers, prepare the indemnity bond and affidavit in the required form, submit the complete application to the RTA, pay any fees on the client's behalf, and collect the duplicate certificate. Where the RTA raises any query or requests additional documentation, we attend to it promptly and without delay to the client.