No duplicate certificate can be issued unless the Board of Directors

No duplicate certificate can be issued unless the Board of Directors have passed a resolution to that effect. A nominal fee is usually charged for such

certificate. When a duplicate certificate is issued the words, “Duplicate issued in

lieu of share certificate No “ may eitiler be mbber stamped or punched on its face.

The surrendered mutilated, defaced or torn certificates shall be defaced by a ‘Cancellation’ mark and destroyed after three years with the authority of the

Board. Pcnnlt)’. If a company with intent to defraud renews a certificate or issues a duplicate certificate, the company shall be punishable with fine which

may extend to Rs. 1,00.000 and every defaulting officer shall bf’ punishable with imprisonment up to 6 months or fine up to Rs. 1.00,000 or with both.

[Section 84(3)]. .

If any person impersonates or obtains a duplicate share certificate fraudulently. he may be liable for imprisonment upto three years and also pay fine