Dear All,
Ours is a closely held public limited company having its registered office in Mumbai. We had allotted some shares to 7 subscribers to the Memorandum at the time of incorporation i.e. in May, 2008. Subsequently additional shares were allotted in July 2008, August 2008 & Sept 2008 respectively. We had also issued share certificates to the respective holders. However, till date the Company has not paid stamp duty on such share certificates. Kindly guide me as to how can I rectify this defect.
1. Can we issue duplicate share certificates and pay stamp duty of Rs. 100/-(maximum duty on duplicate document as prescribed under the Bombay Stamp Act) on each certificate. OR
2. Can we approach the Stamp office and pay some penalty to regularise the issue. If yes, then what will be penalty payable??
Please guide me in case there is some other way out for this issue.
Thanks & Regards,
Shreya Shah
