Filing annual accounts of company (form 20b)

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PRASHANT SHARMA (Querist)
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27 November 2013 Sir,

In my case, a Company registered dated 23/05/2012 having 6 directors each holding 2000 of Equity Shares (Details as filed in FORM-1). During the Financial year, due to some disputes among the shareholders, 2 of them resigned on 01/07/2012. We have duly filed FORM 32 on 01/08/2012 for the same.And we assumed that all Shares of the resigned Shareholders transferred to one of the existing Shareholder of the company (have not filed any form for Transfer of Shares).

Now, while filing its First Annual Returns (FORM 20B), we have properly given the details of all the existing & resigned directors (Date of ceasing wherein applicable)
Now, the point is that we want to normally show the shares of resigned directors' (2000+2000=4000) added to share holdings of 1 of the existing shareholder.
Is our point of view is correct according to the provisions of Company Law and process or not?
if not what is the actual process for the same(for 1st FORM 20B)?
Please highlight the same as your earliest.

CS Taher

CS Taher (Expert)
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27 November 2013 In ur case the Directors are the promoters and the shareholders.
Shareholders cannot resign thy can transfer their shares.
Since you have filed form 32 thn u must hav recorded in the minutes of the company, in the same board meeting u need to approve one more resolution regarding the share transfers and u need to fill the transferee and transferor details in share transfer form 7B as per provisions of Sec108 of the companies Act 2013 properly signed and stamped place before the board for approval only after which you can intimate the same to ROC through filing form 20B showing the transfers.

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