Section 24 in The Industrial Development Bank Of India General Regulations, 1994
24. Renewal of share certificates
.-(1) If a worn out or defaced share certificate is produced, the Board may order the same to be cancelled, and have a new certificate issued in lieu thereof.(2)If any share certificate is alleged to be lost or destroyed, then upon production of such evidence of the loss or destruction thereof as the Board may consider satisfactory and upon such indemnity with or without security as the Board may require, and on payment to the Development Bank of its costs, charges and expenses of and incidental to the matter, a new certificate in lieu thereof shall be given to the person entitled to such lost or destroyed certificate.
