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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 sharesโ€”(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 โ€” (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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