A share is the interest of a shareholder in the company measured by a sum of money, for the purposes of liability in the first place, and of interest in the second, but also consisting of a series of mutual covenants entered into by all the shareholders in accordance with (sec33(1) of the Companies Act 2006). The capital of a Co is divided into a number of indivisible units of a fixed amount. These units are known as shares. 

S 2(84) ‘share is a share in the share capital of a company and includes stock.’ In CIT v. Standard Vacuum Oil Co- ‘A share in a Co is meant not any sum of money but an interest measured by a sum of money & made up of diverse rights conferred on its holders by the AOA which constitutes a contract between him & the Co’. In Bucha F.Guzdar v. Commissioner of Income Tax, Bombay- S.C defined a share as ‘ a right to participate in the profits made by the Co, while it is a going concern & declares a dividend and in the assets of the company when it is wound up.’ 

Share does not merely represent an interest of a shareholder in a Co, it carries with it certain rights & liabilities while the Co is a going concern or while the Co is being wound up. It represents a bundle of rights and obligations. Each share bears a distinguishing number. In Borland’s Trustees v. Steel Bros & Co. Ltd-share is not a sum of money but is the interest of a shareholder in a Co measured by a sum of money for the purpose of liability in the first place and of interest in the second, but also consisting of a series of mutual covenants entered by all the shareholders. Share is not a negotiable instrument 

S 46 –a certificate of shares is given under the common seal of the Co, specifying any share or stock held by any member and shall be the prima facie evidence of the title of the member to such shares of stock that is specified.

The Share-Has a nominal value, it has a Distinctive number, which distinguishes it from other shares. shares can be issued originally. shares are Either fully paid up or partly paid up. They Cannot be transferred infractions. All classes of shares are of equal denomination. whereas Stock-Does do not have a nominal value.  ? Stock cannot be issued originally, can be issued by converting fully paid up shares. It is always fully paid up. it Can be transferred infractions.

This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being.