Share certificate

SHARE CERTIFICATE:

Every person whose name is entered as a member in the register of members of a company has a right to recieve a certificate of his shares [articals7(1)of table A, schedule 1]. a shares certificate shall be under the seal of the company, and shall specify-

1.the shares to which it relates.

2.the amount paid up theron, and

3.the name of the holder of the shares. the share certificate shall be sighned by atleast 2 directers and the secretary.

LIMITATION OF A SHARE CERTIFICATE:

The company shall deliver share certificate.

1.with in 3 months of the allotment of shares,

(or)

2.with in 2 months after the application for registration of the transfer of any such shares.issue of shares certificates is however subject to any provision of law or of any order of any tribunal or other authority.

OBJECT OF SHARE CERTIFICATE:
A share certificate under the seal of a company is prima facie evidence of the titlle of the member to the shares specifioed in the certificate.Estopel, a share certificate of a company creats two kinds of estopel against the company, namely:

1.Estopel as to title.

2.Estopel as to payment.

DEFACED CERTIFICATE:

A share certificate may be renived of a duplicate or a certificate may be issued if such certificate.

a) is proved to have been lost or destroyed,or

b) having been defaced or multilated or torn. is surrounded to the company.