What is Duplicate Issuance of Shares?

Duplicate Issuance of Shares, or duplicate share certificate issuance, is the process that allows shareholders to obtain replacement certificates when their original shares are lost, stolen, damaged, or otherwise rendered unusable.

How Long Does It Take to Issue Duplicate Shares?

According to Company Law regulations, a company must issue duplicate share certificates within 36 working days. Here’s the timeline:

1. Initial 15 Days: After publishing an advertisement about the lost shares, the company will accept objections.
2. Next 21 Days: If all submitted documentation is correct, the company will issue the duplicate shares within this period. However, discrepancies may arise during this process.

Do I Need to File a Police Complaint for Lost Shares?

Yes, if your physical shares are lost or stolen, you must report the loss to the police by filing a general diary or complaint at the nearest station. For example, if you lose your shares while traveling, you should file a report in the location where the loss occurred.

Is It Necessary to Advertise the Loss of Shares?

Yes, an advertisement must be published in the Lost & Found section of a newspaper for lost shares. Recent SEBI regulations require this only if the share value exceeds ₹5 lakh. Additionally, for IEPF claims, advertisements should be placed in both English and the local language of the company’s registered office.

For instance, if a shareholder in Kolkata loses Reliance shares (with a registered office in Mumbai), they must publish ads in both English and Marathi newspapers circulating in Mumbai.

Do We Receive Duplicate Shares in Physical Form?

Previously, duplicate shares were issued physically. However, under recent SEBI guidelines, duplicate shares are now issued as a Letter of Confirmation (LOC). After receiving the LOC, shareholders must deposit it with their Depository Participant (DP) for dematerialization within 120 days of issuance.