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What is duplicate procedure in share recovery

Lost and Found: A Guide to Duplicate Share Certificates in India

Physical share certificates serve as proof of ownership for your investments in a company. But what happens if you lose or damage your certificate? Don’t panic! You can obtain a duplicate share certificate to regain control of your holdings. At Share Claimers, we understand the importance of proper documentation, and we’re here to guide you through the duplicate procedure in India. Our PAN-India service ensures you receive expert assistance regardless of your location.

What is a Duplicate Share Certificate?

A duplicate share certificate is an exact replica of the original certificate, issued by the company in case the original is lost, misplaced, or damaged. It holds the same legal validity as the original and serves as proof of your ownership rights

When is a Duplicate Share Certificate Used?

There are several situations where you might need a duplicate share certificate:

  • Lost Share Certificate: If you can’t locate your original certificate after a thorough search, a duplicate is necessary to exercise your shareholder rights (voting, receiving dividends, etc.).
  • Damaged Share Certificate: If your original certificate is physically damaged (torn, burnt, etc.) to the point where its authenticity is compromised, a duplicate becomes essential.
  • Mutilated Share Certificate: Sometimes, a portion of the certificate might be missing due to wear and tear. If this significantly affects readability or raises concerns about validity, a duplicate is recommended

The Duplicate Share Certificate Procedure:

The process for obtaining a duplicate share certificate typically involves these steps:

  1. Intimation to the Company: You’ll need to submit a written application to the company that issued the shares. This application should include details like your name, address, folio number, and certificate details (number of shares, distinctive number). You’ll also need to declare that the original certificate is lost, damaged, or mutilated.
  2. Newspaper Advertisement: In some cases, the company might require you to place an advertisement in a newspaper (usually a financial daily) stating the loss/damage of the certificate.
  3. Indemnity Bond: An indemnity bond is a legal document that serves as a guarantee to the company. You’ll need to pay a fee (usually a percentage of the share value) to obtain this bond, which protects the company from any liabilities arising from the issuance of the duplicate certificate (e.g., if the original resurfaces).
  4. Processing and Fee: Once the company verifies your information and receives the required documents, they will process your request and issue a duplicate certificate. A processing fee will likely apply.

Additional Considerations:

  • Dematerialization: Consider dematerializing your physical shares into a demat account. Demat accounts offer a safer and more convenient way to hold shares electronically, eliminating the risk of losing or damaging physical certificates. Share Claimers can assist you with the dematerialization process.
  • IEPF FilingShare Recovery, and Inheritance: While this blog focuses on duplicate certificates, Share Claimers offers a wider range of services. If you’re dealing with unclaimed dividends (linked to IEPF), lost share certificates requiring recovery efforts, or inheritance procedures involving share transfer, we can help.

Why Choose Share Claimers?

At Share Claimers, we understand the complexities associated with managing physical share certificates. Here’s how we can be your partner:

  • PAN-India Service: We offer our services across India, ensuring you receive the support you need regardless of your location.
  • Experienced Professionals: Our team consists of experienced professionals who can guide you through the duplicate certificate process efficiently.
  • Hassle-Free Assistance: We can help you with drafting the application, acquiring the indemnity bond, and following up with the company on your behalf.
  • Free Consultation: Don’t hesitate to contact us for a free consultation (Call us at +91 6379474199) to discuss your situation and explore options.

Don’t Let Lost Certificates Hinder Your Investments!

A missing or damaged certificate doesn’t have to be a roadblock to managing your investments. The duplicate procedure can restore your access to your holdings. Contact Share Claimers today! We’re here to help you get a duplicate share certificate and ensure smooth sailing for your investments.

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