Change of shareholding entity form

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2015 Company had three promoters/members, which were three different companies. One of them has transformed itself to a LLP vide court's order.

Now, we have to make changes in the shareholding registers accordingly. Since the entity has changed, would this amount as 'transfer' of shares ? Will we be required to issue new share certificates for this ??

Pratik Shah

Pratik Shah (Expert)
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28 December 2015 You need to check Court's order whether the assets of Company shall be considered as Transfer or not.
However, with general sense, it can not be considered as Transfer of Shares.

Your company is required to change the share certificates only when a company receives intimation from such LLP that its status has been changed. Practically speaking, a company can not issue shares in new name sue moto.

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2015 Dear Pratik Sir,

Thanks for the reply

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