Where shares (other than Bonus Shares) whether fully paid-up or partly paid-up

constituting the title of the allottee to the sl.ares together with the relevant contracts of sale or service nmst be produced for examination by the Registrar. It

shall also file a return stating the number and nominal amount ofthe shares so allotted, the extent to which they are paid-up and the consider.ttion for

which they have been allotted.

(iii) Particulars about the bonus shares and the names, addresses and occupations of the allottees and a copy ofthe resolution authorising the. issue of

such shares.

(iv) A copy of the resolution passed by the company authorising issue of shares at a discount. and a copy of the Company Law Board’s order sanctioning

the issue.

. The return of allotment must be duly dated and signed by a director or the secretary. If default is made in complying with this Section, there is a fine on

every officer in default, which may extend to Rs. 5000. However, the validity of the allotment is not affected. .

It should be noted that no ‘retuf!1 as to allotment’ shall be filed when forfeited shares are reissued because reissue of forfeited shares is not an allotment

of shares in the strict legal sense but only a sale (Shri Gopa .laan & Co. r:. Calcutta Stock Exchange Association Ltd.). Further, there

is no lieed of filing any ‘return of allotment’ in the case of allotment of dehentures.

Every company-public or private-issues to its members after the allotment is complete specifYing the number of shares held by the members and the

amount paid up on these shares. The company issues only one share certificate to each member for share held by him unless the members ask for more

than one such certificate.

Share warrant is another document which is issued by a public company stating that the bearer of its holder is entitled to the shares specified therein. It is

transferable merely by delivery. Share warrants are issued only by a public company by converting fully paid !;hares. Th,ese are negotiable instmment.

A ‘share certificate’ is a document which specifies the shares held by any member. It is issued by the company i.mder its cmmon seal. Every person

whose name is entered as a member in the register of members is entitled to, receh’e share certificate from the company. The share certificate may be in

any form. But a valid share certificate must. satisfy the following requirements:

I. It must be issued by the company under its common seal.

. 2. It must specifY the number of shares. The nominal value of shares

and the amount actually paid should also be stated in it.

3. It must also state the name, address and occupation of the shareholder. , Share crtificate must be duly stamped.