Difference between share certificate and share warrants?

1. Share Certificate[SC] is a registered evidence of title.

Share warrant[SW] is a bearer document of title.

2. SC is not a negotiable instrument.

SW is a negotiable instrument.

3. Both Private & Public Company can issue Share Certificate.

Only Public company can issue Share Warrant.

4. Issue of SC doesn't require approval of central Government.

Issue of SW requires approval of central Government.

5. Holder of SC has full rights(voting, participation in management, etc.) in a company.

Holder of SW doesn't have has full rights in a company.

6. SC is issued in respect of partly paid or fully paid shares.

SW is issued in respect of only fully paid shares.