05 March 2012
A Pvt. Company holds 100 % shares in its subsidiary. Except one share all the shares are held by the Company and one is held by its nominee. Subsequently the nominee changes.
Please advice whether there is need to execute transfer deed and print share certificate for the new nominee?
I think Co. A limited hold 100% shares and out of 100% it elected one person as a nominee to hold some shares on behalf of A.
In case of nominee change, you follow the provision of Section 187C and File Form-22B with Registrar. There is no need to transfer of shares to other nominee.
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