Is it necessary to mention of share transfer to other member during the financial year in Compliance Certificate?
Company has 1,00,00,000/- Rs share capital and among of its 76% shares have been transfered to other member. Will it be valid if Company Secratory is mentioning that the company has not issued any equity shares during the financial year and the company has not bought back any shares during the financial year in its compliance certificate? Or he must have to mention regarding transfer of shares to other members.
Can we claim this in CLB? That he has not mention regarding transfer of share.
12 March 2011
No, the fact of the transfer of shares is not mandatorily to be covered by the Practicing Company Secretary in the Compliance Certificate.
The points as aforesaid if covered by the PCS shall be suufficient compliance.
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