Comment on the following: Share certificate of a company is an official publication.

The statement is **incorrect**. Clarification by Department of Company Affairs (DCA): The question whether a share certificate of a company is an official publication within the meaning of Section 12(3)(c) (which deals with publication of name and address of registered office) was considered by the Department of Company Affairs (Now, Ministry of Corporate Affairs). The Department clarified vide Circular No. 3/73[8/10(47)]/72-CL-V dated 03.02.1973 as follows: Relevant Sections of Companies Act: Section 82 [Corresponds to Section 44 of the Companies Act, 2013 ] states that the shares in a company are movable property transferable in the manner provided in the articles of the company. Section 84 [Corresponds to Section 46 of the Companies Act, 2013 ] provides that a certificate issued under the common seal of the company, if any, or signed by two directors or by a director and the Company Secretary, wherever the company has appointed a Company Secretary, specifying the shares held by any member shall be prima facie evidence of the title of the member to any share. Conclusion: Thus, shares are movable property transferable in the manner provided in the articles of the company and that the share certificates are certificates of title and are movable property but are not publications in the nature of prospectus, balance sheet, profit and loss account, notice or advertisement. The conclusion reached, therefore, is that the share certificate is not an official publication within the meaning of Section 12(3)(c) of Companies Act, 2013.