Extinguishment of share certificates requires destruction in presence of whole-time company secretary and certification to Registrar promptly. Companies must extinguish and physically destroy share certificates bought back in the presence of a whole-time Company Secretary in practice within seven days of acceptance. Within seven days of extinguishment the company must furnish a certificate to the Registrar verified by two whole-time directors including the Managing Director and the whole-time Company Secretary in practice, and must maintain a record of cancelled and destroyed certificates created within seven days of the buy-back.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Extinguishment of share certificates requires destruction in presence of whole-time company secretary and certification to Registrar promptly.
Companies must extinguish and physically destroy share certificates bought back in the presence of a whole-time Company Secretary in practice within seven days of acceptance. Within seven days of extinguishment the company must furnish a certificate to the Registrar verified by two whole-time directors including the Managing Director and the whole-time Company Secretary in practice, and must maintain a record of cancelled and destroyed certificates created within seven days of the buy-back.
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