A duplicate share certificate is a vital document for the shareholder. The certificate serves as evidence and a statement of the shareholder’s investments in the stocks. It is because of these certificates a shareholder can manage to gain the dividend. They serve as official paperwork for the shareholder to assert share ownership and exercise rights.
Although they serve as vital documents, your physical share certificates might get lost, stolen, manipulated, or destroyed. To steer clear of this issue, and to keep the right backup, investors create duplicate share certificates from early on.
Let’s discuss how you can do that without making mistakes.
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What Are Duplicate Share Certificates?
You might have known already that a duplicate share certificate is what you call a share certificate that’s issued when you have lost the original share certificates through accident, theft, manipulation, or destruction.
The duplicate certificate restores your share ownership, saves you from legal trouble, and protects your assets in the market in which you have invested. When you make the application along with the complaint that your share certificate is missing, the company immediately freezes your account so that it remains inaccessible to anyone until you get your ownership back.
Within 6 weeks of registering a complaint, you can expect to get your duplicate certificate. Please note that the word ‘duplicated’ will appear stamped on the certificates.
Why Issuing Them Is a Must?
When you lose your original share certificates, you risk all your investments and assets in the stock market. You no longer have rights or ownership of your assets unless you take quick steps to recover your share certificates using duplicating them. Taking this step helps you in:
- Restoration of ownership over your stocks
- Possession of vital paperwork
- Prevention of data manipulation or financial scams
- Obtaining unclaimed dividends or shares
6 Pitfalls/ Mistakes to Avoid at the Time of Issuing Duplicate Share Certificate
When you are about to issue a duplicate of your lost share certificate, you have to be extra careful in conducting this due to a long verification process. The guidelines below might come in use for it:
1. Ignoring the Verification of the Company’s Authenticity
You may not know which one is the right authority for your company. It is, therefore, important to check the company authority before you send any complaint. You see getting a duplicate certificate is done by an online application process. You are to apply for it by way of registration.
The one rule of thumb here is to make your endeavours to find the one-stop shop to understand if the company where you are complaining is the original one you have invested your money in.
2. Not Checking the Indemnity Bond
Issuing the indemnity bond serves as a legal document to help you generate your duplicate share certificate generation. You must educate yourself to understand the terms of the bond. If needed, take the help of a lawyer.
Carefully read all the information in the indemnity bond before proceeding with the submission process.
3. Not Going through the Lost Share Certificate Reports
This is important because your authority is concerned with the complaint here. What if the complaint was made but you did not do it? This might cause a serious problem, don’t you think?
When you identify the right authority of the company, the best thing to do is to contact the register of the authority. Your job is to reach out to the register and check whether or not the report was made. If it was made, you want to find out if a shareholder does it with verified authority.
When you are reporting the problem of the loss of your physical share certificates, make sure you have covered all the details of the issue and framed a detailed report for the mishap requesting your duplicate share certificate. This process cannot be overlooked because this is where you incorporate the indemnity bond based on your appeal.
4. Skipping to Cross-Check Your Duplicate Share Certificate
As mentioned earlier, your duplicate share certificate is something that gives you back the ownership of your shares or dividends. When you finally get these certificates in hand, it’s your duty as an owner of the certificates to find out if all the details are provided and maintained per your actual certificates.
- Cross-check all the information found in the duplicate share certificate to find out if the information regarding your shares is intact.
- Find out all the discrepancies in the document.
- Make sure the name ID information, and other data of the shareholder (such as PAN number, Bank details) are maintained without an error in the duplicate share certificate.
5. Not Securing Your Document
What you want to do here is to save your duplicate share certificates from possible threats of theft, burglary, or natural destruction. Here are a few ways to help you out:
- Ensure you keep the documents in a fire-resistant box or in the locker where you keep your most important and valuable assets.
- Digital versions of your physical share certificate might also work out as a great alternative to help you keep things secure.
6. Trusting Anyone for Help
That’s because there might be many of them when you lose your physical share certificates. You might get emails and calls from companies or organisations that want to prey on your share certificate details.
Often, you might find people or organisations to lend you help regarding the recovery of your lost share certificate. The first thing you want to do is to check whether or not they are a scam.
To Conclude: What We Do to Help You
Infiny Solutions might be your one-stop destination for authenticated duplicate share certificate generation.
We have been tirelessly working in the industry to help countless shareholders with issuing duplicate share certificates. Simply learn more about us on our services page.
RECOVER YOUR LOST WEALTH
Helping you liquidate your lost shares, unclaimed investments and dividends
UNLOCK YOUR WEALTH
Fill out the form below to contact us