The issuance of duplicate shares typically occurs when a shareholder loses their original share certificates, or the certificates are damaged, destroyed, or otherwise rendered unusable. The process is governed by company law and the procedures set forth by the issuing company. Here’s a general overview of how the process works:

Steps for Issuance of Duplicate Shares

1. Notification of Loss or Damage - The shareholder must inform the company or its registrar about the loss, theft, or damage of the original share certificate(s). This is usually done by submitting a formal letter or notification.

2. Affidavit or Declaration - The shareholder may be required to provide an affidavit or a sworn statement affirming the loss or destruction of the original shares. This affidavit may include details such as the shareholder's name, address, folio number, and the number of shares in question.

3. Public Notice -  The company may require the shareholder to publish a notice in a widely circulated newspaper. This serves to inform the public that the original share certificate has been lost or destroyed, which helps prevent fraudulent claims.

4. Indemnity Bond - In some cases, the shareholder may be required to execute an indemnity bond in favor of the company, agreeing to indemnify the company against any claims or liabilities that may arise due to the issuance of a duplicate share certificate.

5. Application for Duplicate Shares - The shareholder will need to complete an application form, typically available from the company's registrar or transfer agent, requesting the issuance of a duplicate share certificate.

6. Payment of Fees -  The company may charge a fee for issuing a duplicate share certificate, which should be paid by the shareholder. The amount can vary depending on the company and its policies.

7. Issuance of Duplicate Certificate - Once the company is satisfied with the documentation and formalities, it will issue a duplicate share certificate. This certificate will be marked "Duplicate" to differentiate it from the original.

8. Updating Records - The company’s share register will be updated to reflect the issuance of the duplicate certificate. The original certificate number will be voided, and the new duplicate certificate will be recorded.

9. Final Confirmation - The shareholder will receive the duplicate share certificate, and the process is complete.


Important Considerations 

• Timeliness - The process of issuing duplicate shares can take time, so it's important for shareholders to act promptly when they realize their certificate has been lost or damaged.
• Company Policies - Different companies may have slightly different requirements or procedures, so it’s important to check the company’s Articles of Association, bylaws, or shareholder agreements.
• Legal Implications - Some jurisdictions may require the issuance of duplicate shares to be overseen by a legal authority, and specific legal requirements may apply, such as notarization or the involvement of legal counsel.

In addition to the procedural steps above, a company may also have specific rules about how they handle lost or damaged certificates, particularly when dealing with large numbers of shares or complex share ownership structures.  

How Investment Samadhaan Helps in the Context of Lost or Duplicate Shares...

Here’s a step-by-step process for how Investment Samadhaan can be involved if an investor needs a duplicate share certificate:

Assessment - Investment Samadhaan will assess the situation, including confirming the loss or damage of the share certificates and understanding the investor’s concerns.

Document Preparation - The company may require specific documents such as an affidavit regarding the loss of shares, an indemnity bond to protect against future claims, and an application for issuing a duplicate certificate. Investment Samadhaan can assist in preparing these documents correctly.

Filing the Request - Investment Samadhaan will help submit the request to the company’s Registrar and Share Transfer Agent (RTA) or the company’s Investor Relations department for the issuance of the duplicate share certificate.

Tracking and Follow-Up - Once the application is submitted, Investment Samadhaan can track the process to ensure that the application is being processed in a timely manner. If there are delays or issues, they will follow up with the company or registrar.

Resolving Disputes or Issues - If the process hits a snag, for instance, if the company is unresponsive or if there is a dispute regarding the authenticity of the claim, Investment Samadhaan can assist the investor by resolving the dispute or escalating it to the relevant regulatory bodies or authorities.

Limitations

While Investment Samadhaan provides valuable assistance, it is important to note that it does not have the authority to directly issue duplicate share certificates or make any binding decisions regarding shares. The actual issuance of duplicate shares is handled by the company's registrar, transfer agent, or the company itself.
Investment Samadhaan can only assist with the process and act as a facilitator.