Panel for faster share transfer

For duplicate certificates, the panel said a revised procedure may be introduced for the issue of duplicate shares, interest warrants and dividend warrants without inviting an affidavit or indemnity from individual investors.

8220;At the same time strict guidelines may be stipulated in the manual of operations of control and monitoring of the issue of duplicate share certificates in strict compliance with the Companies issue of share certificates Rules, 1960,8221; it said.

The committee has made separate recommendations for the issuers, share transfer agents, stock exchanges, brokers as well as legal amendments to be considered by the Department of Company Affairs.

It also recommended the appointment of a standing committee to work out a strategy of phased implementation of integrated solution for the entire market. The investor should be educated of the advantages of dealing with the stock exchange and sub-brokers regulated by the stock exchange.