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Mode of payment against share transfer

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(Querist)
18 December 2012 Please look at the following case..
In a Pvt. Ltd company and X and Y are the 2 share holders holding 50% share each. Now X wants to transfer 50% of his share to Z at the agreed per share value. My question is that, to whom the Z will pay money for those shares, I mean do Z has to transfer that money into company's account or he has to transfer money into X's account.
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GJCo

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GJCo (Expert)
18 December 2012 It will be deposited into X's account since the funds hve been deposited in the company's account at the time of formation of the company. Moreover, it is just the transfer of ownership and hence the funds will be transferred into X's account.
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