New Share Certificate & Recovery of lost shares

Recovery of lost shares Certificate with MUDS

A share certificate is a document provided by a corporation that certifies that the individual identified on the certificate is the owner of the Company's shares as indicated on the certificate. Following their establishment, corporations are required by the Indian Companies Act to issue share certificates. If you are looking for the recovery of lost shares certificate, we can help you by providing you lost share certificate recovery money back to you. 

Details to be provided in a Share Certificate

Every share certificate issued in India must have the following information:

• Name of the issuing company's CIN number (Corporate Identification Number) Address of the company's registered office Name of the shareholders
• Member's folio number
• The number of shares that such a share certificate represents
• The amount that is paid on these shares.
• A specific amount of shares are available.

Timeframe for issuing Share Certificate

Following the company's establishment, the business must issue share certificates within two months of the incorporation date. When new or existing shareholders are allocated extra shares, the share certificates should be issued within two months after the allotment date. In the case of share transfers, the share certificates shall be issued to the transferees within one month of the Company receiving the instrument of transfer. Recover your lost shares by consulting with our expert team also we ensure lost share certificate recovery. 

Procedures for issuing Share Certificates

Board Meeting & Allotment of shares

A board meeting has been scheduled to decide on the distribution of shares. A committee of directors known as the allocation committee is appointed by the board of directors. The allotment committee would next make a decision on the distribution of shares.

The Board then accepts the allotment committee's report and passes the resolution for allotting shares to the respective applicants after the allotment committee submits its report. The company secretary sends the letters of allotment to the members once the allotment committee has assigned the shares. The allotment letter is a letter that informs the applicant that he has been assigned a specific number of shares by the corporation. Until the share certificate is issued, this letter of allocation is considered the share certificate. 

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Register of members

From the lists of applications and allocation sheets, the company secretary creates a Register of Members. The member's register contains information on the shareholders as well as the specifics of the shares that have been assigned to them. 

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Preparing and Printing Share Certificates

The company secretary must create the form of the share certificate in accordance with the Articles of Association's recommendations. According to the provisions of the governing law, the secretary must have the form printed with all of the required details. With the aid of the application register and allocation sheets, the secretary must fill in all of the data on the share certificate.

The secretary must also verify that two of the company's directors sign the share certificate. The share certificate must be signed by the secretary. The secretary must also make sure that each share certificate bears the company's seal and revenue stamp. Once the certificates are in order, the board of directors convenes to adopt a resolution authorising the issuance of share certificates.

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Intimation and dispatch of Share Certificate

The company secretary must notify all shareholders that share certificates are available and will be handed in return for allocation letters and a bankers receipt confirming payment of the allotment money. A public notification should be produced for the members' general information. Members who submit their allotment letters will get their share certificates through registered mail. Local shareholders can pick up their share certificates at the company's registered office or through an agency designated to send them out.

Penalty for breach in issuance of Share Certificate

If a corporation fails to comply with requirements pertaining to the issuing of share certificates, the company will be fined not less than INR 25,000 but not more than INR 5,00,000 and each defaulting officer will be fined not less than INR 10,000 but not more than INR 1,00,000.

MUDS Management is one of the best lost Share certificate agencies in India, reach out to us immediately to recover your lost shares.