Shares: Section 2(84) of Companies Act, 2013
Share means share capital of a Company and it includes stocks also. Share and Debentures are movable property, and they are freely transferable in manner provided in the AOA of Company.
A Share Certificate is a document issued by company indicating that the person named in the certificate is owner of number of shares specified by the company.
A share certificates are issued under the common seal, if any of the company and to be signed by two authorized director or Director and company secretary (if any)
Time period for issue of share certificates:
|In case of Incorporation:||Within a period of 2 Months from the date of Incorporation to the subscriber of Memorandum.
|In case of Allotment:||Within a period of 2 Months from the date of allotment of shares.|
|In case of Transfer:||Within a period of 1 Month from the date of receipt of instrument of Transfer by the Company|
Procedure for Splitting of Share Certificate
Step 1: Shareholder will file an Application along with original share certificate to the Company regarding the splitting of share certificate into two or more share certificate. The application will include all details regarding the splitting of share certificate.
Step 2: After receiving application from the shareholder, a Board resolution to be passed by the company for splitting of share certificate.
Step 3: After receiving majority of vote, Board shall split the share certificates and issue New split Share Certificates with their distinct folio number.