- Law

How To Publish Loss Of Equity Shares ad in Newspapers ?

 

What will you do if you lose a vital document like your Equity share / stock certificate? There are probabilities of the document being misused—leading to a loss.

This article elaborates on the steps you must go for to  get duplicate share certificates from the corporate / registrars to avoid any loss. we’ll be discussing steps on the way to publish a Public Notice for loss of equity shares ad in Newspapers

Regardless of whether or not a investor loses his or her certificate, that person still owns the shares. However, so as to exchange the physical certificate, the investor should contact the company’s stock agency.

You also ought to quote the folio range and details of share certificates to the corporate for his or her reference. once an organization receives an intimation that you simply have lost the shares, the folio range or the main points provided to the corporate are frozen—in place of the lost one. this can be done by the corporate to forestall any fraud or transfer of shares.

1) Please inform the corporate regarding loss of share certificates quoting your folio range and details of share certificates if obtainable. They shall instantly mark a caution on your folio to forestall to any extent further transfer of shares lined by the lost share certificates.

Simultaneously, you’ll ought to lodge a grievance with the police concerning loss of share certificates and conjointly befits the subsequent formalities:

  1. Furnish an acknowledged copy of the police grievance.
  2. Furnish an indemnity for issue of duplicate share certificate.
  3. Publish a notice in a well known  newspaper for loss of share certificates and submit the paper cutting of the notice to the corporate. The notice ought to contain the main points of registered shareholder(s), share certificate numbers and distinctive numbers of shares lost.

The company sends you the procedure on the way to issue duplicate share certificate which incorporates prepare an instrument, surety and indemnity bond agreement. The company— in an exceedingly letter—mentions you the way perform the procedure for issue of duplicate certificates

Upon receipt of those completed documents, you’ll ought to file AN FIR (first info report) with the police listing details of lost share certificates like the folio no., name, share certificate range and distinctive range of shares, etc.

You currently ought to publish a general notice in one or 2 newspapers declaring the loss of share certificates. The notice ought to contain the main points of investor, share certificate numbers and distinctive numbers of shares lost. intimating the general public of the loss of the share certificate and of the company’s proposal to think about issue of a replica share certificate, in place of the one that’s lost.

The cost of the publication of the overall notice ad is generally borne by the investor. you must send the documents to the corporate / registrars for issue of duplicate share certificates in the middle of, affidavit, indemnity and original copy of FIR of police grievance coverage loss of share certificates and replica of advert free within the newspapers or government gazette publication concerning loss of share certificates.

After verification of the documents submitted, the corporate / registrars can method the requests for duplicate issue of share certificate. This method usually takes four to 6 weeks for the shareholders to receive duplicates from the date of receipt of all the valid documents by the corporate / registrars. detain mind that for each issue of duplicate share certificate, previous resolution of the corporate board or a committee is important.

Intimation shall even be given to any or all stock exchanges wherever the shares of the corporate are listed concerning issue of duplicate share certificate and cancellation of previous share certificate.

 

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