Share certificate holds great importance for a shareholder, as it reflects their ownership rights in the company whose shares they have purchased. It is issued by company only and it shows that the person has purchased shares of that company. But in case if the shareholder loses or misplaces the share certificate, duplicate share certificate is required. One can also get the duplicate share certificate issued, if the original share certificate gets damaged. But being unaware of the procedure for issue of duplicate share certificate in India, many people are not being able to claim the dividends on time.
If you have also lost the share certificate or it got damaged due to any unforeseen circumstances, it is time you get the duplicate share certificate and claim your dividends with ease. In this blog, we are sharing procedure for issue of duplicate share certificate in India so that you can continue to avail the rights as an owner of the shares in the company without any problem. The procedure includes these following steps:
Get Letter of Indemnity – When a shareholder loses the original share certificate, they need to obtain the letter of indemnity stating that you have ownership on shares of the company. One can receive this letter of indemnity from a lawyer or from Notary Public.
Submit a Written Request – To obtain the duplicate share certificate, you also need to submit a written request. In that written request, you also need to mention the total number of shares you hold in that company, your name, your address, and a few other details.
Submit Shares Ownership Proof and Indemnity Letter – Along with submitting written request, you also need to share proofs of ownership of shares in that company. Be it the Demat Account Statement Copy, Original Share Certificate Copy, or any previous claim regarding shares; provide with any of these if available. Other than these submit Letter of Indemnity to company along with all the essential documents that are a must for issuance of duplicate certificate.
Pay Duplicate Share Certificate Issuance Fees – Once you have submitted all the documents, it is time you submit the fees required for the issuance of duplicate certificate. The fees may vary from company to company, so you are required to pay the applicable fees as required by the company.
Verification Process – After submitting written request and sharing all the essential documents, the company will verify them all. It will help them authenticate if the claim is genuine or not. The company verifies shareholder’s details and then decides regarding the issuance of duplicate share certificate.
Issuance of Duplicate Share Certificate – Once the verification process gets over and it ensures that you meet all the procedure and legal requirements, the company will issue a duplicate share certificate to shareholder. It will help them claim all their rights being the shareholder in the company and obtain dividends as well.
Conclusion
By following this procedure for issue of duplicate share certificate in India, you can get the rights on the shares of that company again. We understand that most people delay following this process as they find it quite complex and time consuming. But delay in it can create more problems in future in claiming the right on shares. That is when the professionals at Share Connection Pvt. Ltd. come to help by handling the complete process and making it simpler for you to get duplicate share certificate.