Loss of share certificates

pushpakrishna (Querist) 13 March 2014 This query is : Resolved
Dear experts,
my share certificates drowned due to floods along with other valuable documents during the year 2009 October and the same is appeared in print and electronic media also. the same also reported to the nearest police station and the Tahasildar of the area and the Tahasildar issued a certificate to that effect.but i did not get any certificate from the police at that time.the same also informed to the respective companies but companies sent a format to send an indemnity bond ,an affidavit and surety form.i can submit an indemnity bond and an affidavit who can give the purity as iam living at other place due to loss of every thing due to floods. hence i request you all is there any other remedy to get my share certificates.value of the shares about rs.5 lakhs (for All companies)Thanq in advance.

Follow Query

Report Abuse

R.V.RAO (Expert) 13 March 2014
you need to comply the company's internal regulations contained in its articles of association of the company, relating to issue of new share cert.in lieu of lost ones.
moreover the listed companies have to honor their stock exchange listing agreement clauses,lest they face problems of delisting from stock exchanges and sebi also.
your bank introduction at your new place might have been given for opening your bank account .those introducers can help you if they are satisfied about your credentials.otherwise they cannot have given introduction to you.
so also your new neighbors /provision stores people/milk booth owners ...i mean any body whom you know at your new place can give surety.but you have to convince them you are the real owner of the shares,failing which you ask the company secretaries of those companies ,if any notarised affidavit can be given in lieu of surety.
remember every thing is available on earth.but it has its own price.you know what we mean.

Guest (Expert) 13 March 2014
Indemnity bond as well as the affidavit is a must to ensure that share certificates were not actually sold or gifted to any person, so that any claim of such person on the company is avoided later on if the duplicate shares are issued wrongly to you. If your claim is not false, you should not shy of submitting such indemnity bond and affidavit.

ajay sethi (Expert) 13 March 2014
you must be having friends or relatives who can give surety on your behalf

Rajendra K Goyal (Expert) 14 March 2014
The required formalities has to be completed for issuing the duplicate share certificates. These are necessary for the safeguard of the interest of the company.

The surety can be given by any near and dear.

T. Kalaiselvan, Advocate (Expert) 14 March 2014
Well advised by experts, nothing more to add.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries