07 December 2008
Hello sir please explain me the procesure for transfer of share in private limited co. by one of subscriber to another. The article allowed to transfer the share between members.
Whether any form is to filled with ROC for transfer or merely sign on the back of the certificate is enough for transfer or paying consideration.
08 December 2008
Transferor and Trasferee to execute a share tranfer deed in Form 7B as prescribed under section 108. Before executing the Transfer Deed on Form 7B, the provisions contained in the AOA must be followed. Please note that the shares of a Private Company are not freely transferrable. Existing shareholder is supposed to intimate the company for seeking approval of the Board before selling or transferring the shares otherwise in favour of anybody giving brief particulars of the transferee. And it is after seeking the said approval/NOC that the shareholder is entitled to execute the transfer deed.
08 December 2008
If there is no form prescribed by a private company in its AOA, Form 7B may be used. This must be duly stamped by the presecribed authority. The transferor and the transferee should enter the coloumns and stamp, execute and deliver to the company for transfer and the company shall follow the procedure laid down in the AOA for affecting the transfer.
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