I need to know, a shareholder holds more than 50% of equity (50,50,000 Nos. of Equity) in a private limited company for X value. Now they are transferring their shares for which the transfer deed is in form SH4 shall be executed. All this while there was nothing like physical share certificates ever issued by the company. Now at the time of transfer, what would be the alternative to physical shares, will letter of share allottment work in this case? or do we have to work up by documenting physical shares now ?
If letter of allottment, what is the format? Please guide. Thank you.
CAclubindia
