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    Question

    A duplicate certificate of shares may be issued, if such

    certificate
    A Is proved to have been lost or destroyed Correct Answer Incorrect Answer
    B Has been defaced, mutilated or torn and is surrendered to the company Correct Answer Incorrect Answer
    C Either A or B Correct Answer Incorrect Answer
    D Neither A nor B Correct Answer Incorrect Answer

    Solution

    Section 46 of Companies Act - Certificate of sharesā€”(1) A certificate, issued under the common seal, if any, of the company or signed by two directors or by a director and the Company Secretary, wherever the company has appointed a Company Secretary, specifying the shares held by any person, shall be prima facie evidence of the title of the person to such shares. (2) A duplicate certificate of shares may be issued, if such certificate ā€” (a) is proved to have been lost or destroyed; or (b) has been defaced, mutilated or torn and is surrendered to the company.

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