Change in name on share certificate of chsl
Dhruv
(Querist) 27 June 2013
This query is : Resolved
Dear All,
A public limited company owns a flat in our Society. The said company has been taken over and the new management has changed the name of the company. The said company has written to the Society for change in name in the records of the Society. However, the said management says that it has lost / misplaced the Original Share Certificate. However it says that irrespective of that, the Society is bound to change the name of the company in Society records viz. Share Register, Forms "I", "J" etc.
Is the Society bound to do so without production of Share Certificate before it?
ajay sethi
(Expert) 27 June 2013
the company has to first make an application for issue of duplicate share certificate .if intimation received in writing then society can issue duplicate certificate on furnishing indemnity bond etc . then only name can be changed
Rajendra K Goyal
(Expert) 27 June 2013
Agree with the expert. nothing more to add.
Raj Kumar Makkad
(Expert) 27 June 2013
There seems no legal requirement to change the ownership of the flat which still has to remain in the name of the company. Change in management ipso facto do not lead to change in the ownership in share certificate.
Rajendra K Goyal
(Expert) 28 June 2013
Expert Raj kumar Makkad Ji,
My opinion was on the basis that when one company has taken over by another (amalgamation), the name of old company would be in the name of new and the name of old company cease to exist.
However I agree with your opinion that If the management changes only, company remains owner of the flat.
