Shares are what make up the share capital of a company. As the name implies, a ‘share’ refers to a proportion or share of the company. People who purchase shares, therefore, are owners of that fraction of the company’s total share capital.
Companies raise money for their activities by issuing shares to the public. People buy shares and become shareholders, and become entitled to dividends based on the profits that the company earns. In other words, they become legal owners of their portion of the company’s share capital which they have purchased.
When someone purchases shares, they are issued share certificates. A share certificate is a document that certifies that a person is the legal and rightful owner of that specific share or set of shares. This document contains the name of the company and relevant information about the shares, such as the name of the shareholder, the monetary value of the shares and the number of shares that have been purchased by the shareholder.
These certificates are legally enforceable documents that are proof of a person’s ownership of the said shares. This is what makes share certificates highly valuable, and therefore, need to be kept safely and carefully.
However, we are all human beings. At some point or the other, we will invariably tend to lose or misplace important objects or documents. Misplacing or losing such items will no doubt cause a tremendous amount of stress and tension, and retrieving them becomes the immediate next course of action.
It may so happen that on some occasions, retrieval is not possible, such as if an item is lost during travel or while moving from one house to another, or due to theft. In such instances, duplicates of the same documents need to be arranged. The very same applies to share certificates, and this is where a loss of share certificate advertisement comes in.
A loss of share certificate advertisement is an advertisement that is placed in a newspaper, which is a declaration that share certificates owned by a person have been lost or misplaced. By publishing this ad in a newspaper, it facilitates the issuance of duplicate share certificates.
Booking a share certificate advertisement is a legal requirement, along with the filing of an FIR at a local police station. This is in place to prevent fraud and to make sure that requests for duplicate share certificates are bonafide and genuine.
A newspaper advertisement for lost share certificates contains all relevant information regarding the misplaced share certificates, so that anyone who finds them may contact the rightful owner and arrange a handover of the same, as well as an official declaration that the misplacement or loss of the share certificates is genuine.
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