duplicate is rarely issued and that too upon satisfactory evidence and indemnity

Surrender. Section 115(2) of the Companies Act entitles the bearers of a share-warrant to surrender it for cancellation and, on payment of a fee

prescribed by the Board of Directors and subject to the articles of the company, he can have his name entered as a member in the register in respect of

shares which were included in the wammt and to have a share certificate isslled in his name.

ReSI)Onsibility of Compan)’. The company shall be responsible for any loss incurred by an)’ person by reason of the company entering in its register of

members the name of a bearer of a share warrant in respect of the shares therein specified, without the warrant being surrendered and cancelled.

Penalty. Non-compliance of the provisions of Sec. 115 shall entail a fine for the company and its every officer who is in default upto Rs. 500 for every day

till such time the default continues. [Sec. 115(6)].

Share Warrant and Share-Certificate.

Share Certificate and Share Warrant

I. Issue

Share Certificate

Share Warrant

A share eertilieate can be issued originally at any stage, whether shares are fully paid-up or not.